There are so many reasons practice owners contemplate selling their practices. A private equity buyer may have approached you about selling your practice, and you’re considering their offer. Or maybe you’re nearing retirement. You have a few more years of providing patient care left in you, but you are kind of over the business aspects of running a practice. You might be nowhere near retirement but still want to sell your practice and continue providing care. That’s an option, too!
There are infinite scenarios practice owners face these days, and sometimes, it’s simply time to sell. The good news is that you don’t have to navigate this experience on your own.
myDermRecruiter is now offering consultative services to practice owners looking to sell, merge or acquire a new practice. Our clients often ask us for support in these areas. And as you are probably already aware, dermatology is experiencing a mergers and acquisitions trend as we speak.
Because these are often complex deals, a third-party perspective can be extremely valuable to the practice owners looking to sell and buy—especially if that third party is incredibly knowledgeable of dermatology trends across the US.
But before we get to how myDermRecruiter can help, we want to make sure you know a few things up front.
- First and foremost, if you’re thinking about selling your practice, don’t engage with buyers pressuring you to sell. This is a huge decision, and you need to make sure to take your time and move at a comfortable-for-you pace.
- Secondly, we would never advise selling your practice to the first group sending you an offer. You want to make sure that the bid is competitive, and you are selling to a buyer that makes an excellent cultural fit, too. That could be the initial offer you receive, but it’s worth looking into first.
- And third, you will need specific data, information and materials to hand over to those interested in buying. Sharing this information is essential and needs to be put together ahead of any meetings with buyers. If you step into a meeting appearing unorganized or surprised by requests for this information, you could lose out on some really great deals.
As we said, there’s a lot to consider, but you don’t have to go it alone. We can help you every step of the way so that you know you are making a competitive deal with groups that align with your practice’s values and mission.
You can read more about our step-by-step process for helping practice owners sell their practice here. It’s outlined for you, so you will know what to expect when you’re ready to sell.
Or if you already know that you need the help of an expert in the field of Dermatology to assist you in selling your practice and want to get started with a confidential conversation today, reach out to our Director of Operations, Brent Bargen, at Brent@myDermRecruiter.com. You can also fill out this form, and we’ll reach out to you within 24 business hours.