When you're considering selling your practice—likely the largest financial transaction of your career—selecting the right M&A advisor is crucial. Here's what experienced practice owners prioritize when making this important decision:
Deep Industry Experience
The healthcare practice market has evolved significantly, particularly with the rise of private equity and consolidation. Your advisor should demonstrate a thorough knowledge of current market dynamics, deal structures, and buyer preferences specific to your specialty. They should readily share details about their recent transactions, including deal sizes and types.
Strong Track Record
Look beyond years in business to actual results. Request specific examples of recent deals similar to yours in terms of specialty, size, and structure. An effective advisor should confidently discuss their experience with various transaction types—from traditional sales to private equity partnerships, MSO/DSO transactions, and complex multi-location deals.
Comprehensive Process
Success in today's market requires more than just posting a listing. Your advisor should outline their complete approach to:
- Financial analysis and valuation
- Confidential marketing strategy
- Buyer qualification process
- Deal structure optimization
- Due diligence management
- Post-close transition support
Proactive Communication
The best advisors keep you informed without overwhelming you. They're responsive to questions, provide regular updates, and maintain strict confidentiality throughout the process. This communication extends to managing complex negotiations and keeping deals on track through closing.
Third-Party Validation
While any advisor can claim expertise, independent verification matters. Ask for:
- Recent client references in your specialty
- Specific transaction examples
- Reviews from both sellers and buyers
- Professional credentials and affiliations
Making Your Decision
When evaluating potential advisors, focus on how they'll specifically add value to your transaction. The right advisor should clearly demonstrate their ability to maximize your outcome while protecting your interests throughout the process.
Most importantly, they should show genuine interest in understanding your goals beyond just the transaction itself. This includes considerations for your team, patients, and long-term legacy.
At PTG, we welcome the opportunity to discuss your specific situation and demonstrate how our approach has helped practice owners achieve exceptional results. Contact us to learn more about our process and how we might assist with your transition plans.
