Planning for Transition: Getting Your Practice In Order

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Nov. 6, 2019

Preparing to sell a practice to a private-equity-backed buyer requires careful planning to maximize the purchase price, and to ensure a smooth transition for doctors, staff and patients. Two doctors share how to successfully make it through this process.

Create a Platform	Clean Up the Details
Platforming You can give yourself a leg-up in your sale to a private-equity-backed buyer by grouping your practice with other practices in your area. Multiple practices, positioned as a group for sale, will garner a much higher sale price than one practice individually for sale. This strategic grouping of practices to get a higher sale price from private-equity-backed buyers is called “platforming.”	Multi-Step Clean-Up Assess the value of your real estate, and make sure you have ascribed fair-market value to it, keeping in mind that private-equity-backed buyers do not want to invest in real estate. Get Fiances in Order Sunday morning trips to Costco in which some of the bulk purchases end up in your personal residence, in addition to the office, should be curtailed. Review, and revise as necessary, your legal and accounting bills. Review contracts with associate doctors and support staff, revising and finalizing anything that is not secure before the sale takes place.

Register for “Demystifying PE” Seminars
ECPs can register free for “Demystifying Private Equity and its Role in Optometry.” Learn from experts how the deals work, and how practice valuations are determined. Then meet one-on-one with PE-backed companies that are acquiring eyecare practices.
REGISTER HERE »