Buying or Merging Practices
Buying a Practice
When you are looking to buy a practice, Veritas Transition Group can assist you at several levels. If you are already at the contract stage and have been through the due diligence phase, we can advise you and analyze or draft the contracts and necessary documents in our capacity as attorneys. The advantage that we bring to the table is that we understand the nuances of a professional practice purchase. Our knowledge of practice valuation, deal structuring, financing and fair negotiating skills will get the deal done quicker which saves you money and translates to value.
For the buyer that has identified a practice we are able to take you through the due diligence process of analyzing the practice to determine if the practice is the right practice for you. There are many aspects to the “due diligence” that must be done when purchasing a professional practice. Verifying the practice valuation, analyzing the staff and facility costs, and assessing the management systems are some of the preliminary steps in the process. Our experience and expertise can help you through the due diligence phase as well as the contract and negotiating phase.
Veritas Transition Group also can act as a Buyer’s Agent. We will help you locate a practice, help you complete the due diligence, be with you through the closing of the practice sale, help you create a vision for your new practice and train you in the leadership skills necessary to be a successful practice owner. Whatever your needs are as a buyer, let us guide you through the process.
Merging a Practice
There are many ways to increase the number of new patients in your practice. Without a doubt the fastest and best way to increase the size of your practice is to buy a small practice and blend it with your existing practice. When a senior doctor has slowed his or her practice, the patients that remain are very loyal patients and we find that they transition very well to a new modern practice. With the proper guidance merging one or more smaller practices can result in immediate practice growth and increased income. Let us provide the guidance in helping you locate a mergeable practice that will create the practice you desire.