Medical Practice Sale Preparation
Many large practices and business will have in-house or on retainer the services of an accountant or lawyer to drive and prepare the business for sale and guide it through the due diligence process. This is perfectly acceptable for national and multinational companies where the legal and accounting costs are far outweighed by the sale proceeds. However for small entities, it is possible for the business owner to prepare themselves for sale with some tips and pointers from our team. As experienced brokers and also medical professionals who have sold our own practices, we understand the key drivers and points in financial and commercial documentation that are called upon for due diligence. This includes both recent documentation and in most cases in-depth historical documentation regarding the business as well. A well prepared business has a significantly higher prospect of achieving sale and surviving through the period of due diligence.
We can provide you with advice and point you in the right direction to see that your business is as neat, tidy and presentable as possible for potential purchasers and their financial teams and lenders to see.
All prospective purchasers will be provided with a detailed, specific Information Memorandum (IM) on your practice that outlines a vast array of detail from current and historical financials, staffing, market trends, competition, intellectual property, asset register plus more.
A key part of a purchaser obtaining finance to buy your business, may well hinge on the business documentation that you provide along with our detailed IM. Just like with a house purchase, a financial institution will want to examine and value the asset prior to releasing funds to a prospective purchaser / borrower. Poor business documentation and preparation can stall the due diligence process and ultimately lead to a nervous purchaser walking away from a potential sale.
Contact us for a confidential discussion on the services that Medical Business Brokers can provide.
LOOKING TO BUY OR SELL A MEDICAL BUSINESS?
Our website contains just a selection of our businesses for sale, contact us if you are looking to buy or sell a Medical Business.
Call 1300 508 292 or email us today!