Sept. 18, 2019
ROB is conducting a nationwide series of seminars in the opportunities offered by private equity-backed firms that are acquiring and consolidating optometry practices. Included is a workshop in how to determine practice valuation. Here are highlights and key takeaways from a recent PE seminar in Chicago.
MAXIMIZE MEDICAL EYECARE. Adding or increasing medical eyecare services to meet fast-growin patient needs can increase the value of your practice, making it more attractive to private-equity-backed buyers.
PLAN FOR TRANSITION. If you sell and continue in the practice, there may be a challenging transition period in which you have to acclimate yourself to being an employee of a PE-backed company–and no longer the owner and boss. The upside is that you can concentrate on providing patient care, free from the myriad of details of running a business.
RETAIN A STAKE. If possible, retain partial ownership of the practice, typically 20 percent. If, as is common, a secondary sale occurs in 3-5 years, you get a “second bite of the apple,” that can amount to multiples of your 20 percent stake.
UPCOMING PE SEMINARS. “Demystifying Private Equity and its Role in Optometry” seminars will be held in Atlanta, Houston and Orlando. For more information and to register, CLICK HERE.