The sale of Optima Global Health to Dialogue heralds CEO and founder François Laflamme’s retirement. He told the Insurance Portal that this transaction was necessary to cement the future of his company, particularly because of the investments it would have had to make. In fact, the COVID-19 pandemic is boosting demand for the services offered by both companies.
Optima’s digital platform and systems needed to be updated, and Dialogue's technological expertise can fill that gap, Laflamme adds. “The unique platform they developed will now be used for all types of teleconsultations,” he says.
This acquisition lets Dialogue benefit from Optima Global Health's 27 years of experience in employee assistance programs (EAP) and other related services, Laflamme says, adding that “Dialogue has grown from a few hundred professionals to several thousand across the country.”
In turn, this transaction will allow Optima Global Health to continue to help organizations ensure employees’ health, Laflamme continues. “We offer services that can be complementary to those of Dialogue. This is why we were very open to exchanging ideas with them. This evolved into a purchase offer that we felt perfectly at ease with,” he explains.
What’s more, in the COVID-19 context, teleconsultations are taking off. Canadians are picking up the habit of consulting health professionals online, Laflamme says. “Even once the pandemic subsides, many people will continue to use these services because they are so convenient. That's also partly why I decided to pass the torch now,” he continues.
The lead-up to the transaction
About five years ago, François Laflamme announced to his employees and customers that he wanted to retire gradually in 2020. This transaction has made it official. Before selling his company to Dialogue on October 7, Mr. Laflamme had planned to remain co-owner with Nathalie Tremblay and Jean-Claude Vaillancourt and to sit on the Board of Directors.
“We did not rule out selling the firm, but there was no active search for buyers. It was important to ensure the sustainability of what we had cultivated. We didn't want to sell to just any organization. It had to share our values,” Laflamme explains.
Today, Laflamme is very pleased with his decision. He and his associates have spoken often with Cherif Habib, co-founder and CEO of Dialogue, in the past two years. “We could see that our two organizations, although very different, shared common values,” he explains.
What's next
François Laflamme is no longer on the Optima Global Health payroll, but remains involved to ease the “harmonious transition” of products and clients toward Dialogue and its platform, which he thinks could take several months. He confirms that Tremblay and Vaillancourt are both staying on, and that they are dedicated to ensuring the success of this transition. Martin Binette, recently appointed Chief Operating Officer of Optima Global Health, will gradually take over the management of the firm, Laflamme says.
