Mergers and acquisitions (M&A) remain a central factor in American corporate growth strategies while M&A performance remains questionable. Substantial research suggests that there is a greater than 50% failure rate for all M&A transactions with much of the discussion surrounding the utility of human capital as a leading cause of failure. The purpose of this qualitative case study was to determine the factors of human capital management that seem causal in M&A performance using three human capital management measures (enterprise, business unit, and human capital). The scope and breadth of this investigation followed 2 phases (preacquisition and postacquisition integration) of a recent acquisition between 2 healthcare companies. Investigation included the interviews of 4 staff members (N = 4) who participated in the acquisition with a comprehensive review of organizational documents, archival records, and physical artifacts. Documents, records, and artifacts were systematically organized into salient themes and patterns which were converted into a narrative presentation. Evidence from the investigation demonstrated a relationship between the 3 core areas of human capital management with positive financial performance linking the contribution of human capital management with the financial performance of the acquisition. The empirical results of this investigation establishes a path to social change by providing business leaders and industry experts evidence that can be applied to reversing the current M&A negative performance trend thereby avoiding the personal and professional devastation caused by a failed M&A.
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