The name on everyone’s lips, in the pharmacy worlds and beyond, is UK business visionary Feisal Nahaboo.
Already renowned for his game-changing business model, the ‘Overnight Multiple Merger Model’ (OMMM) which gave rise to the leading accountancy firm consolidation Xeinadin in 2019, Nahaboo has, for the past three years, been focusing his sights on the healthcare landscape. Already, through his pioneering 100+ store pharmacy group Alitam, he is leading a much-needed radical reform of healthcare across the UK and Ireland: beginning to deliver a preventative healthcare service which truly meets the health and wellbeing needs of all citizens, underpinned by the expertise of pharmacists. Thus reducing the burden on NHS services such as GPs and hospitals.
Nahaboo’s OMMM facilitates the consolidation of large numbers of successful individual companies in record time, in order to drive up standards and profits in saturated and fragmented industries. It’s a world-first model which offers low risk and high profit after tax (PAT). Nahaboo has demonstrated excellent form in delivering much-needed change in the accountancy sector through the creation of Xeinadin, which not only raised standards for accountancy across the board but, according to the Irish Times, posted revenues in May 2020 of £110.3million, and 36% EBITDA – a figure far higher than that typically seen in the sector. Furthermore, Xeinadin recently announced they have commanded an extremely valuable chunk of private investment from Exponent, taking their valuation to £340m.
Says Nahaboo, “I personally headhunted hundreds of profitable and entrepreneurial accountancy firms, according to size, expertise, specialisms and jurisdiction. I created a Vision, Mission and Values so that a shared culture was established on day one. The 122 independent businesses worked collectively, united in the belief they would be valued 3x more than traditional values if they entered the model. They were galvanised by my unerring belief in what could be achieved for accountancy.
I was very hands on, managing every task so it was executed in the most cost-effective and timely way. The whole process took just 256 working days, with the support of 2 admin staff and 1 graphic designer only.”
Indeed, it is this ‘unerring belief in what can be achieved’ – this time for pharmacy – which has created such enormous momentum behind the Alitam ‘movement’. From the outset, Nahaboo has led from the front: attracting visionary and entrepreneurial pharmacists with his plan for Alitam; handpicking each independent business to ensure a rich tapestry of business and clinical expertise is created. His focus on leadership meant a relentless search for the very best figures to lead Alitam. Nahaboo clearly commands great respect from business leaders in many fields, and has attracted a stellar line-up to the Alitam board. Featuring luminaries such as Sir Ken Olisa, Lord Lieutenant of London, Antony Isaacs, former MD of HSBC Global and Zach Brech, former MD of Credit Suisse.
“I’ve learnt, as a leader, that you need excellent leaders,” smiles Nahaboo. “Following a year of continual engagement and negotiations, I’m delighted to announce this line-up, which constitutes a formidable array of talent. Every single appointee, including latest board addition Bharti Patel, shares the drive to work collectively, as one body with one vision: to deliver easily accessible, affordable healthcare – encompassing a wide range of clinical services typically provided by GPs such as ear irrigation, vaccinations, weight management, diabetes checks, minor ailments clinics and much more. Thereby relieving the considerable burden on the NHS and HSE in Ireland.
“We are pulling together to implement innovations at incredible speed. The cross-fertilisation of ideas is astonishing. Our acquisition strategy is ambitious, we’re planning for 10% organic growth over the next five years. Our radical plans for preventative healthcare – as opposed to the current, reactive model – are also bold: I recently announced a multi-billion-pound plan to launch a chain of ‘Super Pharmacies’ across the UK and Ireland within the next five years. These Super Pharmacies will offer everything from highly regulated ophthalmic and audiology services to physiotherapy and even midwife-led care.”
As if this weren’t enough, Nahaboo is also spearheading a radical overhaul of healthcare with his ‘Global Reset 2022’ initiative: a new collective comprising some of the best minds within the business, medical and political sectors. All of whom are combining forces to rethink the UK’s outdated, underfunded medical model and build a revolutionary new national preventative healthcare system underpinned by pharmacies.
“I’m leading change not just with Alitam, but with all pharmacies,” explains Nahaboo. “The Covid-19 pandemic has exposed and deepened a crisis in the nation’s healthcare, with NHS waiting lists for routine treatments set to rise to 10million within the next 12 months. Notable waiting lists also exist to see a GP. We need to support GPs to ensure waiting lists don’t lead to unnecessary suffering and deaths. However, the government’s answer of promising more hospitals and GP surgeries won’t help, and just means households will be paying even more in tax to fund this inefficient system.
062“Hence, I’ve assembled a group of visionaries, quite frankly people with astonishing talents and a track record in implementing radical change, with a remit to radically rethink the current medical model. I want us to be the first nations in the world to offer this revolutionary – yet easily implemented – preventative healthcare solution. As such I invite all pharmacies to join us, so we can share the knowledge and determination to make it happen, and create a healthier life, for everyone.”
Nahaboo has assembled the initiative in a remarkably short space of time, and is actively engaged in identifying and interviewing over 50 prominent business people, including several highly experienced, and visionary, leaders of the medical world, to be a part of his disruptive Global Reset 2022 healthcare initiative.
Understandably, confidence in the personal qualities of Nahaboo, and his world-first OMM model – delivered through his Overnight Multiple Merger Group (OMMG) – is at an all-time high. As Founder of the OMMG, Feisal Nahaboo has received offers of over £50m from major Private Equity firms to build another pioneering business, using the ground-breaking business model for which he is famed. OMMG and the Private equity investor have come to an agreement with heads of terms being drawn up.
But for now, all eyes are on Alitam and the much-needed change to healthcare which Nahaboo is uniquely equipped to help deliver.