What She Built
Dr. Novak had grown her MedSpa into a multi-location practice with strong clinical production and a loyal client base. She wanted to grow further – more locations, new markets – and she wanted a partner with the infrastructure to help her get there.
When a buyer approached her directly, she engaged. She had a call, reviewed an LOI, and the number fell well short of what she expected.
She went looking for representation and found Practice Transitions Group. She reached out and connected with Lauren Wheeler.
Before Going to Market
Before taking the practice to market, Lauren worked through the financials in detail. PTG identified and documented hundreds of thousands of dollars in add-backs, ensuring the numbers buyers would see accurately reflected the strength of the business.
With the financials in order, PTG took the practice to market. The response was immediate.
The Right Fit
Multiple formal offers came in, and PTG narrowed the field to three finalists – each a private equity-backed group with serious acquisition interest. The offers varied in structure. Two didn’t align with what the seller was looking for. The third did.
Lauren worked alongside this buyer before and understood their strong position in the market. When Dr. Novak met with them over dinner, the fit was clear. They moved fast, made strategic decisions, and operated the same way she did. What they offered matched what the seller had described she was looking for from the start. Lauren negotiated the offer up significantly from where it started.
Getting to the Finish Line
Dr. Novak and the buyer signed the LOI. The rollover equity agreement required significant negotiation – there were terms the seller was not willing to commit to until they were right. Lauren worked through it with buyer and seller to arrive at a solution both sides were comfortable with.
The Outcome
Dr. Novak’s practice was valued at $27M with strong cash at signing, meaningful rollover equity, and earnout potential built into the structure – roughly $7M above where the opening offer started.
She walked away with exactly what she came for and the runway to take her MedSpa brand further than she could have alone.
Note: Details have been anonymized to protect client confidentiality.