The client was a young Veterinarian with 4 practices all within about 20-25 miles of each other. He wanted to sell off one of the practices and keep the other 3 for the time being.
As we marketed the 1 practice that the client wanted to sell the potential buyers did not like the fact that the owner would still be practicing in a market that could be deemed competitive and any carve-outs from a non-compete could be difficult to enforce. Several potential buyers indicated they would only be interested if they could buy all 4 practices simultaneously.
Compile all the financial data and practice information on all 4 practices to present to the potential buyers to determine if the sale of all 4 practices would provide favorable price and terms to the client.
Analyzing and deciphering the financials of 4 different practices, where inventory and staff are co-mingled is a challenge in itself. Through much diligence and hard work we were able to provide all the financial data, all practice facilities data, and all professional and lay staff data for all 4 practices on a single spread sheet for ease of analysis of the potential buyers.
We were able to secure a nearly 8 figure offer from a Corporate Consolidator for the client, with financial terms and continued employment terms that were acceptable to the client. With 4 different locations, multiple Doctors to get under contract, financing with 3 different lenders to satisfy with closing proceeds, complex contracts, multiple leases...this was a complex transaction to say the least. We were able to navigate all of these issues and provide for a smooth closing and transition process to the buyer.