The name on everyone’s lips, in the pharmacy worlds and beyond, is UK business visionary and OMMG Founder Feisal Nahaboo.
Already renowned for his game-changing business model, the ‘Overnight Multiple Merger Model’ (OMMM) which gave rise to the leading accountancy firm consolidation Xeinadin in 2019, Nahaboo has, for the past three years, been focusing his sights on the healthcare landscape. Already, through his pioneering 100+ store pharmacy group Alitam, he is leading a much-needed radical reform of healthcare across the UK and Ireland: beginning to deliver a preventative healthcare service which truly meets the health and wellbeing needs of all citizens, underpinned by the expertise of pharmacists. Thus reducing the burden on NHS services such as GPs and hospitals.
Nahaboo’s 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. It’s a world-first model which offers low risk and high profit after tax (PAT). Nahaboo has demonstrated excellent form in delivering much-needed change in the accountancy sector through the creation of Xeinadin, which 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 £340m.
Says Nahaboo, “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 3x 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 every task so it was executed in the most cost-effective and timely way. The whole process took just 256 working days, with the support of 2 admin staff and 1 graphic designer only.”
Indeed, it is this ‘unerring belief in what can be achieved’ – this time for pharmacy – which has created such enormous momentum behind the Alitam ‘movement’. 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 meant a relentless search for the very best figures to lead Alitam. Nahaboo clearly commands great respect from business leaders in many fields, and has attracted a stellar line-up to the Alitam board. Featuring luminaries such as Sir Ken Olisa, Lord Lieutenant of London, Antony Isaacs, former MD of HSBC Global and Zach Brech, former MD of Credit Suisse.