Published on: 15 Jul 2019

London – July 15, 2019 – Leading global professional services firm Alvarez & Marsal (A&M), has appointed Ray Berglund to help spearhead its effort in expanding its Healthcare practice in Europe. Mr. Berglund’s appointment reflects A&M’s significant work in this sector for European clients over the past few years and brings together the firm’s existing healthcare expertise across multiple European jurisdictions. The practice will advise a wide spectrum of healthcare companies, including medical device, biotechnology, and pharmaceuticals, on improving financial and operational performance and developing strategic objectives to navigate the complex, dynamic global healthcare market. 

Mr. Berglund will be based in London and will report directly into A&M’s Head of Europe, Antonio "Tony" Alvarez III. He will help lead A&M’s recruitment of medical technology, pharmaceutical and biotech specialists to strengthen and expand the firm’s offering. The market dynamics for healthcare companies are changing throughout the world with increasing cost pressures, demographic shifts, regulatory hurdles and rapidly developing technology. A&M’s European Healthcare practice combines the legacy of senior consulting expertise from A&M with in-depth industry specialists that will help European and Global healthcare companies transform their businesses, innovate, and grow in the market environment of tomorrow. 

A&M has a well-established Healthcare practice in the U.S., led by Martin McGahan, and recently launched a similar offering in India and South America. A specialist in the MedTech sector, Mr. Berglund joins A&M from Acelity, a global leader in the wound care industry and former A&M client. Through his work with A&M whilst at Acelity, Mr. Berglund experienced A&M’s unique approach to value creation, which aided his leadership of the transformation of the portfolio management process, and commercial growth efforts in Europe and the US as CFO, Global Commercial & Innovation. He has over 15 years of experience in transformation, turnaround and financial leadership across a range of medical device and technology organizations. Additionally, Mr. Berglund has advised on cost reduction initiatives and the integration in mergers and acquisitions across corporate and private equity-owned businesses. 

Antonio "Tony" Alvarez III, Managing Director and A&M’s European Practice lead, said: “The healthcare and life sciences sectors in the U.K. and Europe are facing numerous challenges, not least the need to effectively embrace innovation to remain ahead of the competition. As a result, clients in this space are increasingly turning to A&M as a firm that is capable of rapidly delivering performance improvements. Ray’s operational background and depth of transformational expertise align A&M’s European Healthcare practice with the hands-on approach that sets A&M apart.”

Commenting on his decision to join A&M, Mr. Berglund said: “Innovation is at once the biggest opportunity and the biggest threat to businesses in the healthcare and life sciences sectors. We can make a real difference in helping clients to better allocate resources and deliver the growth and returns on investment that have become far more challenging in recent years. As a former A&M client myself, I saw at first-hand how A&M took a leadership role from day one and understand the value that the firm’s practical and ‘no-nonsense’ approach can bring. I look forward to expanding and enhancing the offerings that A&M currently has in a space where the demand for our capabilities is ever-increasing.”