Hycor Biomedical
Hycor Biomedical is a life-science company based in Orange County, CA with additional facilities in the UK and the Netherlands. The company’s R&D and production operation focuses on allergy, autoimmune and urinanalysis tests used by clinical laboratories. West Monroe Partner’s mandate was two-fold: perform an IT Due Diligence on the Hycor business as it existed as a division of Agilent Technologies and subsequently, to carve-out Hycor from Agilent after successful acquisition by a private equity firm.
The Project
Phase One: Hycor IT Due Diligence
West Monroe Partners was engaged by a Chicago based private equity firm to perform an IT Due Diligence for Hycor Biomedical. Our team evaluated the IT operations of Hycor through four lenses – Strategy & Financial, People, Process and Technology. Our team identified significant technology spend implications that gave the private equity firm an advantageous platform from which to negotiate a discounted purchase price for the business.
Phase Two: Hycor Carve Out
After the private equity firm bought Hycor from Agilent, the task remained to carve out Hycor and essentially stand it up as an independent business. Separating a division from a larger parent is always a challenge and this phase of the project was no exception. This phase required a strong breadth of technical expertise shared by our entire Private Equity and Alternative Investments team. We had to separate both the infrastructure and the applications that the infrastructure supported. Within just a few short months this team was able to identify opportunities for technology improvements, prepare Hycor to operate as a stand-alone organization, and begin executing on requirements to transition Hycor to a standalone business entity.
The phase included creating a completely new IT infrastructure based on Microsoft’s technology stack (WAN, servers, desktop, security, remote connectivity, and data center), deploying and managing the conversion of applications (payroll, expense management, ERPs, EDI, and Quality), and transitioning workplace services ( security and utilities). West Monroe’s expertise in Private Equity, business processes, systems management and IT allowed us to partner with our PE client and Hycor Biomedical to streamline the company’s transformation and ensure a successful transition.
West Monroe Partners developed a close relationship with the client, who trusted our recommendations and leadership to complete the project with success. The fact that the project was located in sunny southern California during winter was a bonus!