Medical Engineering Firm (10 million € turnover, 40 % of which from international business)
Innovational steps after management buy-out
After the MBO in 2007 the company started production and distribution of an innovative substance needed in many different medications. This has a lot of advantages compared to its substitutes, most important of which are the avoidance of side effects. The product was good and the market ready. But administrational support in tax, compliance and financial issues was needed urgently.
An ECOVIS-partner stepped in from the beginning of the venture as a sparring partner for the start up entrepreneur coaching her on financial and business matters continuously. Monthly reporting, as well as comparing the status and development of the company to financial ratios usual within the industry were the most important issues during the start phase.
Volume of exports and the number of exporting countries are growing. Focus of ECOVIS support are the VAT issues and setting up of financial administration and compliance of international business.