StoriesHow PeopleFirst Leadership Powers Growth at Ascend
Ascend brings Alpine’s PeopleFirst leadership to life, showing how people-first private equity can drive growth while preserving integrity.
Alpine CEO-in-Residence Jose Rivero put his PeopleFirst training to work right away when he joined Medusind in 2023. With 3,600 team members globally, Rivero knew that uniting as one global team was a necessary first step to prepare the business for growth.
Medusind specializes in acquiring and growing revenue cycle management (RCM) companies, combining innovative technology with personalized, high-touch service models to maximize value and deliver superior business outcomes for physicians.
Drawing on his previous experience with the PeopleFirst program as the CEO of a former Alpine portfolio company, Healthcomp, Rivero knew that trained coaches and PeopleFirst strategies would also benefit Medusind. His goals? Hire a strong leadership team, set a clear direction, improve communication and help establish a stronger, more autonomous workforce of energized individuals. At Medusind, Rivero also aimed to reduce employee attrition, increase employee satisfaction and create one global company culture.
Building a Strong Foundation
With support from Medusind’s board and Alpine Operations Group’s (AOG) executive recruiting team, Rivero hired eight new leaders—including two CEOs-in-training (CITs).1 Each new leader was integrated into the fold through a series of two-day sessions facilitated by Alpine-retained coach Derek Fairchild-Coppoletti.
“Working to build a shared language and sense of team was critical in that first year and a half,” says Rivero. “We had to think and act like a team before we could lead the rest of the company.”
Once the senior management team was onboarded, they gathered for a multi-day PeopleFirst workshop on mission, vision and values, diving into operational processes for everything from day-to-day decision making to performance reviews.
The leaders then gathered their 35 direct reports for a PeopleFirst offsite retreat focused on new communication strategies and leadership workshops, enabling their training and initiatives to scale across the company.
Launching PeopleFirst for the Entire Company
Last fall, Medusind’s global team members gathered in the company’s offices for two weeks for the launch of the Medusind PeopleFirst Program with new branding and broad internal communications. Team members were introduced to the company’s updated values, mission and vision, took part in roundtable discussions with leaders and engaged in a company-wide values skit competition.
While the launch unites geographies, it’s the ongoing initiatives that create a positive, engaging “One Team” culture. A daily PeopleFirst email spotlights employees, celebrates award winners and shares other culture news and activities happening across the globe. Large company decisions include global leaders, and Rivero travels to India several times a year to get employee feedback and connect with each team.
Medusind also recognizes excellent work with quarterly awards aligned with company values, like the Service and Client Centricity Awards, and the annual CEO awards. Their first-ever growth summit—a chance to bring together leaders from across the globe—will take place this year in Miami this spring. Rivero hopes the summit will be a chance to build on their vision and strengthen connections between leaders, while aligning on strategy and execution plans for the next phase of Medusind’s growth.
Reaping the Rewards
Since the launch of their PeopleFirst initiatives, Rivero has noticed a tangible shift among his employees. The Employee Net Promoter Score (eNPS) has increased by 38 percent, rising from 24 to 33. Additionally, employee attrition has significantly decreased from close to 60 percent at the time of the acquisition to 31 percent as of December 31, 2024.2
“I’m hearing more creativity,” he says. “They’re bringing their ideas and they’re engaged. We truly feel like one global geography. Everything we do is with all of Medusind in mind.”
Jose Rivero, CEO, Medusind
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Case studies presented contain the opinions of past and present Alpine portfolio company executives. Alpine makes no representation or warranty as to the accuracy or completeness of the information presented here. It should not be assumed that the portfolio companies discussed in these case studies were profitable or that future portfolio companies or experiences will be comparable. Past performance is not necessarily indicative, or a guarantee, of future results. Under no circumstances should these case studies be construed as an offer to sell, or a solicitation to buy, any security or as opinions regarding the provision of investment advisory services by Alpine. Please see Alpine’s Terms of Use on Alpine’s website for disclosures.
Endnotes
Alpine Operations Group is responsible for executing certain value creation initiatives at Alpine portfolio companies. Any fees, compensation (including incentive equity), reimbursements or other amounts received by Alpine Operations Group members (including without limitation CEO-in-Training (CIT), CEO-in-Residence (CIR), PeopleFirst, Talent/Recruiting, Corporate Development, Direct Sourcing, Customer Experience, Sales & Marketing, Pricing and Financial Operations) generally will be paid by a portfolio company or prospective portfolio company and/or the applicable Alpine Fund and do not offset such Alpine Fund’s management fee. Accordingly, the fees and expenses of Alpine Operations Group members are not covered by the Alpine Fund’s management fee and will not otherwise reduce the management fee. There can be no assurance that no other service provider is more qualified to provide such services or could provide such services at a lesser cost. Similarly, there can be no assurance that Alpine Operations Group services will be deployed on behalf of a portfolio company, or if deployed, that they will lead to investor returns.
A “good” Employee Net Promoter Score (eNPS), as defined by Bain & Company, generally falls between 10 and 30, with scores above 30 considered excellent.
