Feisal Nahaboo Appoints Former MD Of Credit Suisse As His CFO To Bolster Alitam Group’s Multi-Billion Pharmacy Of The Future Plan
In recent weeks, the Alitam Group and its founder, entrepreneur Feisal Nahaboo, have been in the headlines with the unveiling of a multi-billion-pound plan to launch the ‘Pharmacy of the Future’, a chain of ‘super pharmacies’ across the UK and Ireland that promise to transform healthcare from remedial to preventative and relieve the pressure on an overburdened NHS.
Now, it has been announced that former Credit Suisse MD Zac Brech has been appointed as Alitam’s CFO to help take this bold vision forward.
Alitam CFO Zachary Brech
In yet another move which demonstrates the extraordinary levels of confidence in the Alitam Group’s ‘Pharmacy of the Future’ concept, it has been announced today that senior financier Zachary Brech has joined Alitam as its new chief financial officer (CFO).
Brech joins Alitam, which is entrepreneur Feisal Nahaboo’s second merger created using his revolutionary overnight multiple merger model (OMMM), just days after the announcement of a “significant” investment by private equity firm Exponent in Xeinadin Accountancy Groups.
As Xeinadin’s founder, Nahaboo literally built the merger from his kitchen table and within a record-breaking 256 working days from inception, merging 122 independent accountant practices overnight through an OMMM.
His latest merger, Alitam, comprises a 100-plus pharmacy store consolidation and is being built with a futuristic strategy for turning traditional pharmacies into powerful ‘super pharmacies’ offering more GP-type services to help reduce the estimated 6million NHS waiting list.
The appointment of Brech, the former MD of Credit Suisse, as Alitam’s CFO comes at a pivotal time for the Alitam Group, which boasts a talented and diverse board of directors all focused on strong organic growth and a vigorous acquisition programme. These include chairman Sir Ken Olisa, a leading businessman and philanthropist who is Lord Lieutenant of London.
Bringing an extensive financial due diligence experience to the role, and a formidable background in the cut-and-thrust world of M&A, Brech will be instrumental in writing financial models and plans as Alitam looks to acquire an additional 100-plus stores over the next two years.
Brech was formerly head of the UK M&A division at Credit Suisse between 2005 and 2009, playing a key role in a number of high-profile business transactions including the sale of Corus plc to Tata Group; Barclays’ offer for ABN AMRO; and the recapitalisation of Lloyds and HBOS by the UK government.
During that time, he ran that team with great success, helping Credit Suisse claim its best-ever position of number two in the UK M&A rankings in 2009.
Unsurprisingly, Brech has been recognised for his talent and hard work. He was named a ‘Rising Star’ by Financial News in 2006 and 2009, while Credit Suisse was awarded UK M&A ‘House of the Year’ during his tenure, in both 2007 and 2008.
Crucially for Alitam, Brech personally advised on the complex and high-profile merger of Alliance Unichem and Boots. He therefore brings great insight and know-how regarding M&A deals in the world of pharmacy, which will be of inestimable value at this vital juncture as Alitam seeks significant private equity investment.
In his new role, he will be handling the financial modelling of Alitam’s ambitious 100-plus store roll-up acquisition programme over the next 24 months.
He will also be tasked with the financial modelling of organic growth for individual pharmacies, as Alitam seeks to integrate innovative service lines, in order to offer the public the “healthcare they so desperately need”.
Only last week, it was announced that NHS waiting lists have skyrocketed to a record 6million since the pandemic began—a 20-year high—with Health Secretary Sajid Javid warning that it could take several years to clear the backlog.
One of Alitam’s core aims is help alleviate the pressure on the NHS by delivering instore diagnostics and treatments on demand, and to reduce illness and deaths by building its own “world-leading” preventative medical health system.
Furthermore, Brech will assist Alitam CEO Nahaboo in devising a financial model to acquire large, empty High Street stores, and kit them out according to the ‘Super Pharmacy’ concept.
These ‘Medical and Wellbeing Centres’ will operate as ‘one-stop-shops’ for health and wellbeing, providing not just highly regulated medical care but further treatments such as physiotherapy, vaccinations, aesthetics and even midwifery.
Brech will be closely involved with their roll out, across the UK and Ireland region, over the next ten years.
Alitam founder and CEO Feisal Nahaboo personally headhunted former Credit Suisse MD Zachary Brech for the role of CFO. Brech will be instrumental in realising the Group’s ‘Pharmacy of the Future’ vision.
Alitam founder and CEO Feisal Nahaboo, who personally headhunted and recruited Brech, is elated to have him join the board.
He said: “Zac joining us is a ringing endorsement of the Pharmacy of the Future concept. Zac at once saw that the idea is not only sound, but timely, as our health services face unprecedented levels of pressure.
“He has a fierce intelligence, impressive track record and boundless enthusiasm for the Alitam concept. I know I speak on behalf of all board members when I say how delighted we are to have his confidence and talent invested in us.
“I will learn a lot from Zac, which can only help our ongoing Overnight Multiple Merger Models (OMMMs).”
Brech added: “Much about Alitam impresses me. The scale of vision, the level of talent and ingenuity, the relentless hard work by Feisal, Sir Ken Olisa and the rest of the management team since day one.
“All of my instincts and experience tell me that Alitam will achieve its aims, and go further. “I am proud to be part of this formidable team who, together with our incredible members, will help transform our nations’ health.
“Feisal is a ‘super visionary’ and thousands are gravitating towards him and sharing his vision to improve the nation’s health by using pharmacists to create a preventative health system.”
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
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