Preparing a digital mental healthcare provider for sale

Zenith had built a strong position in its market, but it had reached an inflection point. Growth had slowed, the founder was considering strategic options, and the business needed a clearer way to present its performance, outlook, and expansion potential to outside parties.

At the same time, management was also thinking beyond a transaction. Expansion into the United States, new pricing models, and new growth channels all raised questions around capital, structure, and commercial execution. The company needed support not only on the transaction itself, but also on the operating decisions that would shape the next phase.

1. Preparing the business for a transaction

Our first step was to bring Zenith’s numbers into one integrated model. We tied together historical revenue, cohort trends, and cost drivers, and added a multi-year forecast so the founder could present a cleaner and more consistent story to potential buyers and investors.

We then rapidly built a comprehensive data room and an information memorandum. This gave the founder a complete diligence package for renewed outreach and helped keep conversations moving once interest was established.

2. Helping pivot from a sale to a strategic partnership

As discussions progressed, the founder identified a stronger path than a full exit. Zenith chose to explore a minority investment so the founder could retain control while using the investor’s network to support expansion into the United States.

We reviewed the structure to ensure it worked for both sides and supported the commercial negotiations through several rounds of edits until the term sheet was signed. With capital secured, we then built a market-entry plan covering user and revenue projections, marketing spend, expected acquisition costs, breakeven milestones, and the capital tranches needed to reach scale.

3. Supporting the next phase as a corporate finance partner

After the transaction work, we remained closely involved through regular management and sales reviews focused on performance, cash, and execution. That cadence led to a series of practical initiatives across the business.

We helped release working capital by streamlining vendor terms and billing cycles. We reviewed pipeline performance and supported a redesign of sales incentives so the commission plan better rewarded both new wins and upsells. We also supported hiring plans to expand sales capacity.

As the company prepared for US expansion, we scoped entity-structure alternatives and, with outside counsel, helped implement a holding company structure that made cross-border funding easier. We also supported Zenith’s direct-to-consumer pilot by assessing pricing, marketing channels, and churn risk as the new offer went live.

4. Strengthening pricing, commercial tools, and planning

We built a ROI calculator for enterprise clients, using client employee inputs and financial assumptions to estimate the cost of absenteeism, presenteeism, and attrition. This helped the sales team quantify value more clearly in enterprise conversations.

We also analysed historical usage across dozens of client companies to help Zenith evaluate a shift from per-session pricing to a fixed annual price per employee. The goal was to reduce client hesitation created by uncertain annual cost and move toward a more predictable commercial model.

Alongside this, we created structured sales-process documentation covering roles, compensation, training, lead generation, qualification, and common blockers. For a large enterprise client, we also drafted pricing proposals across different service configurations, contract lengths, and payment terms so Zenith could negotiate without losing control of profitability.

Beyond the core business, we supported early strategy work for adjacent ventures by building longer-range forecast models and business plans to test assumptions around acquisition cost, monetisation, and future funding needs. We also helped map the broader legal and tax considerations for international expansion. As part of ongoing reviews, we supported a cost-discipline plan that included changes to pay structures, monthly savings targets, and tracking of the impact of pricing and compensation changes.