Five Years Later: Reflections on Leading a Business Post-Carve-Out
For many owners, one of the biggest concerns during an acquisition is the future of their team. Employees, especially those from small, specialized groups, often feel a natural sense of uncertainty.
But when thoughtfully executed, acquisitions can unlock new resources, open the door to broader networks, and create meaningful opportunities for growth.
A New Chapter After Carve-Out
Dave Squires began his career in 2004 at Fresenius Medical Care Canada, where he supported NephroCare (now Renal Insight), a nephrology EMR designed to serve Canadian renal clinics. In 2020, as part of a strategic shift, Fresenius made the decision to divest the software and team. The business was acquired by Miram, a portfolio within the Perseus operating group of Constellation Software.
“When the divestiture was announced, there was of course some uncertainty,” Dave recalls. “But looking back five years later, joining Constellation has been an amazing adventure.”
Post-acquisition, Dave was promoted from his product management role to running the business. Initially responsible for the U.K. division, Dave now oversees a global team serving dialysis providers across the U.S., Canada, the U.K., Europe, Australia, and New Zealand.
“Being part of a larger group has challenged me to think more strategically,” he says. “Collaborating with peers around the world broadens your perspective.”
For Dave, the acquisition didn’t just protect the work he was doing, it gave him room to grow. It created space for a new leadership opportunity, encouraged cross-border collaboration, and brought a deeper sense of purpose to the mission of serving care providers around the world.
Autonomy With Access
For Dave, one of the most important parts of the transition was that his team continued to operate independently. “We stayed focused on our core business and our customers,” he says. “Our autonomy was preserved, but what changed was our ability to reach out and learn from others who had gone through similar challenges.”
That balance of remaining self-directed while gaining access to a broader peer group proved invaluable. “For example, when we were evaluating new ticketing software, I didn’t have to start from scratch. I could reach out to other teams who had just gone through the same thing. It saved us time and helped us make smarter decisions.”
The Power of Shared Knowledge
Being part of a broader network also brought practical advantages to product development. Dave explains:
“It’s a tremendous advantage for us to understand what our sister companies have tried and had success with—and to share our own learnings as well. We take those insights and apply them to shape our product, making more efficient use of our time and resources. Ultimately, that translates into a better experience for our customers.”
This kind of collaboration removes the guesswork. The ability to learn from others while staying focused on what makes your business unique is, in Dave’s words, “an unparalleled advantage.”
Final Thought
For teams that may have previously operated in isolation (whether within a global enterprise or as a standalone business) joining a group like Perseus up can offer:
- Access to shared benchmarks and tools
- A support system of peers navigating similar decisions
- Visibility into what’s working elsewhere
In Dave’s case, the result have been clear: more confident decisions, better products, and stronger alignment between team capabilities and customer needs.
“It’s helped us grow, both individually and as a business.”
Back to Insights