Alex Goldsmith - CEO, Medigold Health
Alex joined his father’s business Medigold Health in 2006, leaving his career in the City to become business development director. And he’s certainly developed the business since. The employee wellness provider is now an industry pioneer. He invests 5-10pc of turnover in R&D each year to stay at the forefront of occupational health, moving beyond the usual absence management, physio and mental health support, to also run a fleet of mobile vans testing hearing, lung function and more.
How did you end up in this business?
My dad started this business in 1998 but he was diagnosed with a nasty form of blood cancer in 2005 so I joined the business a year later to help him out. I was an investment banker in the City and thought I might return to that career – but 12 years later, I am still here.
How have you revolutionised the business?
I started small, as a business development director. I didn’t want to throw my weight around just because I was the boss’ son. I tried to earn people’s respect by learning all about occupational health. Since I became CEO, the business has changed massively. We help companies across the UK look after their biggest asset: their people. We have the best people and the largest fleet of mobile testing vans in the industry. When I joined, the business was turning over £3.5m and we’re heading for £55m by 2021.
What drives you?
I want to be the best at everything. I hate losing. I’ve always been naturally competitive, playing rugby at Bristol University. But I’m a team player. I am not interested in solo sports. That’s why Medigold Health has been so great; I work alongside brilliant people to meet our goals.
What will drive future growth?
Within the next three to five years, face-to-face appointments won’t be as crucial as they are now. Predictive analytics will be able to go through your medical data and work out what’s likely to be wrong with you. Only 10pc of people will see a real person for a diagnosis. I’m on that now, making sure we’re way ahead of that trend. We want to be the pioneers and innovators in our industry, so I spend between 5pc and 10pc of turnover each year on R&D. We can do that because we’re a family business, and we can make long-term decisions.
- Alex is 42
- He was an investment banker in the City before joining the family business
- Medigold Health was founded in 1998
- It runs over 70 clinics, employing in excess of 150 clinicians
- Plans to get to £55m turnover by 2021
“Alex was suddenly parachuted into the family business from an entirely different career, learning fast to help his father during a difficult time. He rose to the challenge, and found he had a natural flair for entrepreneurship, taking calculated risks that have helped Medigold Health build an unrivalled reputation in employee wellness. Revenues have grown under his leadership, yet he never rests on his laurels, investing consistently in R&D. A true leader and innovator, Medigold Health will surely stay ahead of the pack over the coming years.”
Craig Hinde, LDC