Our Process

From confidential conversation to closed deal.

Sell-side M&A is fundamentally a process discipline. Our methodology has six phases, typically spans four to nine months, and is designed to surface the highest defensible value for your practice with the least disruption to patients, staff, and day-to-day operations.

Speak with an advisor: (800) 815-0590

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Timeline to Sell

100% confidential. No obligation.

Typical Timeline

Four to nine months from first NDA-protected conversation through close

Confidentiality

Every conversation under NDA — patients, staff, referral sources, and competitors never learn

The Process

Six phases. Four to nine months. One senior advisor.

Our process organizes around two themes: Plan Smart (Phases 1–2), where the work is invisible to everyone except you and us, and Sell Smart (Phases 3–6), where the practice goes to market under managed confidentiality. Every phase is led personally by a senior partner, and you remain in operational control of your practice throughout.

Plan Smart 1–2 weeks

Initial conversation & engagement

Every relationship begins under NDA. We start with a confidential conversation about your practice, your timing, your objectives, and a preliminary directional view of value. Nothing leaves the room. If we're a fit for each other, we move forward with an engagement letter; if not, you leave with better information than you came in with.

What we do

Execute mutual NDA before any practice information is shared
Conduct a directional valuation conversation based on your numbers
Discuss process options, timeline, and likely buyer pool
Provide a transparent engagement letter outlining scope and fees

What you do

Share basic financial information under NDA
Communicate your timing, goals, and concerns honestly
Decide whether our process and partnership are right for you

Outcome of this phaseA clear, mutual understanding of what your practice is worth, what the path to a transaction looks like, and whether you want to proceed.

Plan Smart 3–6 weeks

Preparation & positioning

This is the phase that separates a structured process from a brokered deal. We dig into your financials, normalize EBITDA, identify and document value drivers, build the deal narrative, and prepare the marketing materials that will go to qualified buyers. Done right, this phase is invisible to your patients and staff — and it is where most of the value in the eventual transaction is created.

What we do

Conduct financial diligence and EBITDA normalization
Build the Confidential Information Memorandum (CIM) and one-page teaser
Develop the buyer landscape and confidential outreach list
Stress-test the deal narrative before any buyer sees it

What you do

Provide three years of financials and operational data
Approve the final buyer list before any outreach begins
Stay focused on running the practice; we handle the prep work

Outcome of this phaseMarketing materials ready, buyer list approved, your practice positioned defensibly. You have decided what comes to market, on what timeline, and to whom.

Sell Smart 3–4 weeks

Confidential market launch

The teaser goes out to your approved buyer list. Interested parties sign an NDA and receive the full CIM. We field all initial buyer questions, run initial qualification calls, and collect non-binding Indications of Interest (IOIs). At this stage, no buyer knows the others are looking. You do not speak with buyers directly.

What we do

Distribute teaser and CIM under managed access
Field all buyer questions and qualification dialogue
Collect and analyze Indications of Interest (IOIs)
Rank the buyer pool on price, structure, and strategic fit

What you do

Continue running the practice without disruption
Stay reachable for occasional process-related questions
Review the IOIs with us once they are in hand

Outcome of this phaseA ranked set of competing IOIs with directional valuation, deal structures, and strategic intent. You see the real shape of the market.

Sell Smart 4–6 weeks

Management meetings & LOI negotiation

We bring a shortlist of qualified buyers to management meetings — the first time you typically meet a buyer directly. We prepare you for each meeting, control the agenda, and follow up. From those meetings, buyers submit Letters of Intent (LOIs). This is where the real negotiation happens: not just on price, but on rollover equity, earn-outs, real estate treatment, employment terms, and post-close governance.

What we do

Curate the shortlist and prepare you for management meetings
Negotiate LOIs on price, structure, and continuing-physician terms
Coordinate counter-proposals across competing buyers
Recommend the LOI that best matches your stated objectives

What you do

Show up to two to four management meetings with selected buyers
Review and approve LOI terms in writing before any signature
Make the final call on which buyer to proceed with

Outcome of this phaseA signed LOI with your preferred buyer, with price and structure terms locked in writing before exclusive diligence begins.

Sell Smart 8–14 weeks

Diligence & definitive agreements

Once an LOI is signed, the buyer begins detailed diligence: financial, legal, operational, clinical, and regulatory. We run the data room, manage the diligence cycle, and protect you from constant interruption. Simultaneously, definitive transaction documents are negotiated: the Asset or Stock Purchase Agreement, the employment agreement, real estate documents, the rollover equity terms, and any related agreements.

What we do

Manage the secure data room and respond to diligence requests
Negotiate the Purchase Agreement, employment terms, and ancillary documents
Coordinate legal, tax, and accounting advisors on your side
Defend against re-trading attempts during diligence

What you do

Supply diligence materials through us, not directly to the buyer
Engage your transaction counsel and tax advisor (we can recommend)
Review and approve every material document before signing

Outcome of this phaseDiligence complete, definitive agreements signed, closing conditions defined. The deal is committed; only the closing mechanics remain.

Sell Smart Closing day, then post-close

Closing & transition

Closing is the day funds wire, equity rolls, and the practice changes hands legally. We coordinate the closing mechanics, oversee the wire and rollover, and confirm every document is signed in the right order. After close, we stay engaged through the post-close transition — the handoff of payor contracts, staff communications, patient transition, and the practical work of integrating with the buyer's platform.

What we do

Coordinate closing logistics across legal, banking, and counterparties
Confirm wire transfers, equity rollovers, and document execution
Manage post-close transition support for staff and operations
Remain available through the first 90–180 days post-close

What you do

Sign closing documents
Communicate with staff and patients on the timeline you control
Begin your post-close clinical and operational rhythm

Outcome of this phaseDeal closed, funds received, rollover equity in place. You begin the post-close chapter on the terms you negotiated, with a senior advisor still on call.

What Sets the Process Apart

A structured process — not a pitch and a hand-off.

Confidentiality Discipline

Your team and patients never learn unless you decide they should.

Most commission-based brokers and direct-to-DSO conversations leak. Our process is built on NDAs from the first conversation forward, with no buyer touching your name, your numbers, or your geography until you have approved them onto the list.

Buyer Pool Engineering

We surface three to five real bidders — not one platform's opening offer.

A direct PE platform offer is almost never the best offer. We build a curated, competing buyer pool around each engagement, and the resulting price and structure routinely come in materially higher than what a direct conversation would have produced.

Negotiation Scope

We negotiate structure, not just price.

The headline number gets most of the attention; the rollover percentage, the earn-out mechanics, the real estate treatment, and the post-close employment terms determine what you actually live with. Our LOIs and definitive agreements get equal attention on all of it.

Senior Partner On Every Engagement

Mike or David runs every phase — personally.

Larger firms win engagements with senior partners, then quietly hand the work to associates. We do not. The senior partner who signs your engagement letter is the same person managing your data room, your buyer calls, and your closing.

Start the Process

The first step is a conversation.

Phase one of the process is a single confidential conversation, under NDA, with no obligation on either side. Most practice owners who reach out are 6 to 24 months from an active sale — the earlier the conversation, the more we can do. Complete the form or call directly.

(800) 815-0590