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.]

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[CIBC Commercial Banking]

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