Halfway through 2023, we have continued to see incredible interest in healthcare businesses for purchase. Whether it be dental or veterinary practices, or Medspas, buyers are looking for opportunities which are difficult to come by. Notably, however, Sellers are leaving major opportunities on the table due to lack of preparedness. In many cases, Sellers are receiving less value than they should simply because they’re not in a position to sell or their current status and structure is less desirable than what buyers are looking to purchase. What can you do to maximize opportunities?

1. Audit your Business!

a. Review financial and tax data; gather documentation; review any outstanding liabilities.

2. Review your corporate structure

a. Are you primed for purchase by any type of buyer?

b. How are your practice assets actually owned?

c. Do you have contracts in place clearly detailing the practice ownership?

d. Do you have multiple entities? Are they active?

3. Review liabilities

a. Whether it be employment, patient, or contractual liabilities, do you have a good path forward to address these issues?

4. Compliance

a. Have you been operating in compliance with applicable laws on a Federal and state level?

b. Are licenses up to date?

c. Are owners appropriately licensed or holding the ownership?

5. Are you set up for a transition?

a. Depending on the buyer, where do you stand currently if a transition is or is not required?

With deal activity ramping up for the end of the year, the time is now to review your business and prepare it for a strategic sale. With 6 months remaining in 2023, now is the time to optimize your opportunities.