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Transcript: Business succession stories — m-Health Solutions
[Gentle music.]
[CIBC logo]
[CIBC Commercial Banking]
[Sandy Schwenger
CEO, m-Health Solutions]
[Jimmy Poulin
Chief Operating Officer, m-Health Solutions]
[Sandy Schwenger sits in her home and speaks to the camera.]
>> Sandy Schwenger: In 2019, my business partner wanted to retire and it was at that point that it really made me think, “What will my exit strategy be?”
[Business Succession Stories: m-Health Solutions]
[Sandy walks through a garden and looks at flowers.]
There are a lot of factors that made me start thinking about selling the company.
[Sandy prunes some plants in her garden. She sits in the garden with her granddaughter on her lap. Sandy stands in the sun looking at her garden.]
Part of the thing that excites me is being able to slow down and spend some time with my grandchildren doing the things that I love and not always having to be in a rush to do everything. Post-retirement, I want to stay in the medtech field and consult, or be part of startups. There’s so much innovation going on. It’s such an exciting time.
[A woman works on her computer in an office. Another woman reviews information on her monitor. A man sits in an office working on his computer. A woman works on her computer in a cubicle.]
In 2010, we founded m-Health Solutions and we started doing remote patient monitoring, using a technology that had never been seen in the Canadian market before.
[Sandy works on her laptop in her home.]
When it was time to start thinking about selling the company, I reached out to a number of different organizations that would provide advisory services.
[Sandy sits in her office and speaks with a CIBC representative.]
It became pretty evident that CIBC was the right choice as a partner and as an advisor.
[A man wearing a CIBC logo pin. Jimmy Poulin and a man have a discussion in an office. Jimmy, Sandy and the CIBC representative stand and talk.]
[Jimmy Poulin sits in his office and speaks to the camera.]
>> Jimmy Poulin: Working with CIBC was great because they had a breadth of expertise. They were able to do a lot of the heavy lifting, and it allowed us to keep focusing on the day-to-day operation of the business. And they also were able to position the company the way that potential investors would want to look at it.
[Sandy sits in her living room and speaks.]
>> Sandy: If I had to give advice to business owners who are looking to sell their company, my number one advice would be get a good advisor and start early.
[Sandy and the CIBC representative stand in her backyard and talk.]
[Jimmy sits in his office speaking to the camera.]
>> Jimmy: It is a process that takes some time and because it takes time, I would emphasize the importance of selecting a team that you’re comfortable working with.
[Jimmy, Sandy and the CIBC representative stand in an office space talking and shake hands. They leave the office space.]
>> Sandy: Post-sale, it’s been a very positive experience for me and for the team.
[Sandy and her granddaughter sit in her living room and play.]
The amount of work that went into this was incredible. There’s no way I could have done this without CIBC by my side.
[Learn more about our Mid-Market Investment Banking at cibc.com/mmib.]
[CIBC logo]
[CIBC Commercial Banking]
[The CIBC logo is a trademark of CIBC.]