Sound familiar? For most organizations contemplating partnership opportunities, mergers, or acquisitions, this sentiment serves as a foundation for considering opportunities with a trusted partner.
In recent months, ABC and ADRP have been engaged in exploratory discussions regarding the potential for coming together to deliver more and better services to our members at lower cost. Based on the opportunities identified so far, ABC and ADRP have taken the formal step of signing a confidentiality agreement and a letter of intent to protect both parties as we complete due diligence and discuss business points of embarking on a new partnership. The letter of intent is non-binding and can be terminated by either party at any time. The letter of intent does prevent either organization from having merger discussions with other organizations at this time.
Most non-profits undergo some serious contemplation before considering a merger or acquisition. ABC is pursuing this route to potentially create more value for members and make the best use of globally scarce resources. Currently, both ABC and ADRP provide educational content and learning opportunities for blood banking professionals who focus on the donor experience. Consolidating these offerings will reduce unnecessary duplication and prove to be a growth strategy as we leverage the ABC Professional Institute (API) and member website to deliver content in a more far reaching and cost effective manner, thus better serving our members.
The majority of ADRP members and conference attendees are affiliated with ABC member blood centers. Conversations between the leaders of the two organizations have highlighted potential advantages to moving forward. We intend to create an improved meeting program by integrating complementary offerings. We believe that the total administrative costs can be reduced and anticipate stronger strategic positioning with vendors and others interested in the field.
This is the most current status update on ABC and ADRP’s endeavors. ABC and ADRP leadership thus far is encouraged and excited by the gains that can be made for both of our organizations, and we are feeling that the title of this article is correct. The letter of intent is not a final commitment, and details of the arrangements will be finalized with the approval of both organizations and their boards. Additional information will be forthcoming as both organizations perform their due diligence in a transparent manner to align their educational visions where commonalities exist, always with the commitment to provide the best resources in education to each of their members.
Christine Zambricki, DNAP, CRNA, FAAN, Chief Executive Officer;email@example.com