Entrepreneur Feisal Nahaboo Tipped By Pharmacy Leaders To Lead Radical Change In The Industry

Alitam Founder and CEO, Feisal Nahaboo has personally headhunted the group’s executive board, comprised of a “stellar line-up” of business luminaries. From top left to bottom right: Sir Ken Olisa, Harry Johal, Dhruv Patel OBE, Ray McSharry, Bharti Patel, Prakash Patel, Antony Isaacs, Zac Brech, and Alitam Founder and CEO Feisal Nahaboo.

The name on everyone’s lips, both in the pharmacy world and beyond, is UK business visionary Feisal Nahaboo, CEO of Alitam and the creator of the revolutionary Overnight Multiple Merger Model’ (OMMM). In this article, Timothy Arden takes a closer look at his record-breaking merger in accountancy group Xeinadin, and how Nahaboo is now doing the same with pharmacy group Alitam, and leading a healthcare revolution in the process.

Already renowned for his game-changing business model – the ‘Overnight Multiple Merger Model’ (OMMM), which first gave rise to the leading accountancy firm consolidation Xeinadin – entrepreneur Feisal Nahaboo has, for the past two years, been focusing his sights on the healthcare landscape.

Already, through his pioneering 100-plus store pharmacy group Alitam, he is leading a much-needed radical reform of healthcare across the UK and Ireland.

This is now beginning to deliver a preventative healthcare service through the pharmacy industry infrastructure which truly meets the health and wellbeing needs of all citizens—underpinned by the expertise, skill and qualifications of pharmacists—and by so doing, reducing the substantial burden on NHS/HSE services such as GPs and hospitals.

The secret behind Alitam’s rapid rise is undoubtedly Nahaboo’s OMMM, a world-first model offering low risk and high profit after tax (PAT). 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.

As a proven business leader, Nahaboo has been responsible for the consolidation of up to 122 individual independent companies overnight, something no one has previously dared to try—never mind achieve.

This was first attested through the creation of Xeinadin in 2019, where Nahaboo demonstrated the power of OMMM through delivering much-needed change in the accountancy sector.

Xeinadin

Xeinadin 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 over £300million.

Speaking about the creation of Xeinadin, completed virtually ‘overnight’ in a record-breaking 256 working days, Nahaboo said: “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 three times 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 most tasks so it was executed in the most cost-effective and timely way. The whole process took just 256 working days, with the support of two admin staff and one graphic designer only.”

It is this “unerring belief” in what can be achieved—this time for pharmacy—which has created such enormous momentum behind the Alitam ‘movement’.

Leading from the front

Feisal Nahaboo, CEO Alitam

Feisal Nahaboo

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 has also led to a relentless search for the very best figures to lead Alitam. Nahaboo commands great respect from business leaders in many fields and has attracted a stellar line-up to the Alitam Board, including such luminaries as Sir Ken Olisa, Lord Lieutenant of London; Antony Isaacs, former MD of HSBC Global; and Zach Brech, former MD of Credit Suisse.

Nahaboo said: “I’ve learnt, as a leader, that you need excellent leaders. 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, the former Avicenna Group Executive Director, shares the drive to work collectively, as one body with one vision: to deliver easily accessible, affordable healthcare.

“This encompasses 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 percent 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.”

Global Reset 2022

Nahaboo has the aspiration to build Alitam into a FTSE100 company within five years but, if this weren’t enough, he 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 members of the Global Reset 2022 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,” explained 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 10 million 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.

“Now is the time to address the fundamental issue. We need to build a preventative healthcare system rather than the current reactive one, which is costly and inefficient.

“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 collective 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 OMMM – which is delivered through his Overnight Multiple Merger Group (OMMG) – is said to be at an all-time high.

As Founder of the OMMG, and arguably the leader of M&A activity in the UK and Ireland at this moment, Nahaboo has received offers of over £50million 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 reportedly already come to an agreement with heads of terms now being drawn up. But, at present, all eyes are on Alitam and the much-needed change to healthcare that Nahaboo is uniquely equipped to help deliver.

For more information about Alitam, visit www.alitamgroup.com. For more information on the OMMM model, visit www.ommg.co.uk. For more information on Feisal Nahaboo, visit www.feisal.co.uk or follow him on Linkedin.

enewsletter