"Our partnership with FMG Leading helped us merge the old with the new, allowing us to grow into a place where our executive team was aligned and moving in lock-step with our board and advancing the company forward in a very healthy and proactive way."
Founded in 2012, ImmunoTek Bio Centers is a biotech company committed to safely collecting high-quality blood plasma from the public and supplying to the world’s research, medical supply, and fractionator organizations. ImmunoTek also specializes in constructing, opening, FDA/EU licensing, by building & selling new centers and also managing multiple plasma collection centers and plasma supply contracts to meet ongoing demand in the plasma proteins therapeutics market in partnership with well-known pharmaceutical companies. The ImmunoTek leadership team brings nearly 100 years of combined experience in the blood, plasma, and biopharma industries.
INTRODUCTION
Jerome Parnell III, CEO and Founder, Immunotek
In 2020, ImmunoTek took on a private equity investor, and with that investment came increased expectations around rapid scale. CEO Jerome Parnell III enlisted FMG Leading to help focus the growth strategy, build his personal leadership skills, and redesign the management team structure. Subsequently, FMG Leading began coaching several executive team leaders allowing them to elevate in their roles and focus on the journey ahead.
PARTNERSHIP
ImmunoTek started their partnership with FMG Leading through executive coaching and advising for Jerome and the Board, to ensure clear lines of communication were in place, and that the Board was aligned with the strategic direction the firm would take. The partnership then expanded into a series of executive team sessions which refined the company’s value chain and go-to-market position. During these sessions, ImmunoTek senior leaders aligned around critical strategic priorities, company values, culture, growth strategy, and future vision.
In 2022 the FMG Leading team began coaching several other senior ImmunoTek leaders, completed a culture audit, facilitated a company-wide values refresh and roll-out, and designed and facilitated the company’s first annual National Leadership Meeting (NLM). With increased leadership capacity and a re-energized company culture, ImmunoTek was ready to accelerate into the future.
OUTCOMES
During the course of ImmunoTek’s partnership with FMG Leading, which was focused on building leader, team, and organizational alignment and effectiveness, the company grew its ability to scale from under 10 to over 20 new plasma collection centers per year. The increased footprint allowed ImmunoTek to secure several new contracts with larger pharmaceutical entities, helping to more than double revenue to over $500m annually. In 2022, ImmunoTek opened 23 plasma centers, the most of any independent plasma organization in a single year. Between 2021 and 2022, revenue grew approximately 51%, and as a result, ImmunoTek was able to attract another round of capital investment in 2023 with a new majority owner.
From The Client’s Point of View
During the course of ImmunoTek’s partnership with FMG Leading, the company grew its ability to scale from under 10 to over 20 new plasma collection centers per year. The increased footprint allowed ImmunoTek to secure several new contracts with larger pharmaceutical entities, helping to more than double revenue to over $500m annually. In 2022, ImmunoTek opened 23 plasma centers, the most of any independent plasma organizations in a single year. Between 2021 and 2022, revenue grew approximately 51%.
Contact the practice leader
Addam Marcotte
Addam focuses on helping healthcare services and private equity-backed healthcare companies enhance strategic alignment, achieve rapid scale, and improve business outcomes across a range of key performance indicators.