Case Study

Theradial: How Stratos Realigned Theradial’s Tools for Growth

Stratos guided Theradial in restructuring its digital division, moving from stalled post-merger integration to a clear "Best of Breed" strategy. By prioritizing platform stability and appointing unified leadership, the roadmap unlocks €3M+ in short-term revenue potential.

Industry Healthtech & Medical Devices

Key Outcome €3M+ Revenue Potential

Key Services

Strategy Digital Transformation M&A Integration

At a glance

A restructuring roadmap identifying €3M+ in short-term revenue, unlocking 100+ blocked migrations, and repositioning a 10-year health data asset as a core strategic differentiator.

Context

Theradial Group is a reference player in the distribution of medical devices and pharmaceuticals for dialysis. In 2019, the group expanded into software solutions by acquiring two historic publishers: EMA (France) and Sined (Italy/France). These entities, leaders in Dialysis Patient Records (DPI), continued to operate in silos, competing in the same markets without a unified vision.

The Challenge

The post-merger integration (PMI) between EMA and Sined had not materialized, leaving the digital division with fragmented roadmaps and no common leadership.

Operational Silos: The two companies functioned independently, lacking a unified direction to arbitrate product vision and execution synergies.
Technical Debt: The flagship web product, Medware Web (Sined), suffered from critical instability and slowness, blocking approximately 100 planned migrations in France and stalling international credibility.
Aging Portfolio: EMA’s products (Hémadialyse & Hemabox) were robust but technologically aging, with limited potential for international scaling.
Undervalued Data Asset: Theradata, a unique health data warehouse with 10 years of history on 6,500 patients, was under-exploited, treated as a short-term monetization tool rather than a strategic asset for AI and differentiation.

Approach

Stratos conducted a comprehensive strategic audit to reset the division's trajectory:

360° Assessment: Interviewed CEOs, COOs, and directors across Group, EMA, and Sined levels to map the disconnect between technical capabilities and commercial reality.
Product Portfolio Analysis: Evaluated the technical maturity and market fit of existing solutions. Stratos advised against a costly forced convergence of EMA and Sined products, recommending instead a "Maintain & Secure" strategy for legacy tools while focusing resources on the modern Medware Web platform.
Growth Lever Identification: Quantified immediate revenue pockets (e.g., Hemabox renewals, Medware migrations) independent of heavy structural transformations, aiming for ~€1.9M from migrations alone.
Strategic Roadmap: Designed a phased plan ("Shift Together" & "One Team - One Vision") to appoint a single Digital BU Director, stabilize the web platform, and position Theradata as a long-term value driver.

Results

Strategic Pivot

Halted the unrealistic "product convergence" narrative to focus on stabilizing Medware Web as the primary growth engine for France and international markets.

Unified Governance

Defined the critical role of a single Digital BU Director to break silos and enforce a value-driven roadmap across both entities.

Revenue Security

Identified specific short-term levers to secure revenue, including ~€825k from Hemabox renewals and ~€170k from new regulatory modules (HémaT2A SCOR).

Data Strategy

Redefined Theradata from a tactical tool to a strategic asset, leveraging its unique Electronic Data Capture (EDS) capabilities for AI applications and competitive differentiation.