PSS Redux--The Fall and Rise of a Physician Supply Company, Part II
After a meteoric rise through the late 1980s and early 1990s, PSS began to stumble badly, beginning with a difficult IPO in 1994 and culminating in a terminated acquisition offer in 2000. Having seen even its last hope--a face-saving merger--evaporate, PSS' senior managers had no choice but to try to turn the company around on their own. That's what they've done for the past eighteen months, with a strategy focusing on better financial controls, on the one hand, and a rededication to customer service, on the other.
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