PRACTICE TRANSITIONS

PRACTICE TRANSITIONS

Every practice transition is unique. We put our skills and expertise to use by listening to and understanding the needs of all parties involved. One of our greatest strengths as attorneys is that we are deal-makers, not deal-breakers. When our clients tell us what is important to them, we take it to heart and negotiate the transaction with that in mind. With decades of legal experience, we also know what the important issues will be for the other party and we work to develop fair "win-win" outcomes for everyone.

Buyers

Purchasing a practice can be stressful. We help take the stress out of the buying process while prioritizing your needs and looking out for your best interests. We have the experience and a proven track record in tax planning, financial modeling and negotiating to ensure your practice gets started on the right foot.

Sellers

You've done the hard work of creating your own practice and now you're trying to outright sell, partner, merge, or split. We want to make sure you get everything you've put into your practice when selling. Our knowledge and experience in the transition marketplace regarding taxes, legality and proper valuations will greatly benefit you.

EXPLORE PRACTICE TRANSITION OPPORTUNITIES

We connect Buyers and Sellers through our Collier Connections website. For over a half-century, C&A has helped thousands of doctors in their Practice Transition transactions. Collier Connections is a "FREE to join resource" that our team developed to aid practitioners like you in your search for a new partnership, associateship, or to buy or sell your practice. The right opportunity for your future could be closer than you think. Upon registration, you may post and search our database 24 hours a day, 7 days a week.

We represent buyers and sellers, partners and associates in every stage of a transition.

This includes:

dental-practice-transitions, practice transitions

In the case of an outright sale, the contracts will address the key components such as purchase price, the allocation of the purchase price for tax purposes, how to handle the accounts receivable, real estate, redo work, work in progress, restrictive covenants, records maintenance, the seller’s transition responsibilities, and more.

The issues are different in the case of a buy-in to a group practice. Proper planning will greatly increase the chances of a successful long-term relationship. In the buy-in transaction, the key issues include the buy-in price, the tax allocation, how to compensate the partners in a way that recognizes the efforts that each partner contributes, practice management, and what happens if a partner exits the practice for one of a number of reasons.

Ultimately, the key to a successful transition is finding an arrangement that is fair to all of the parties involved and ensures that our client’s interests are protected.

The goal is to have the transaction a “win-win” for both doctors and to ensure the on-going success of the practice.

PRACTICE VALUATIONS

While the most common reason to value a practice is to plan for a sale, there are many reasons to seek valuation services. Often, the valuation is performed prior to bringing in a new associate who has the potential to become a partner. An appraisal is also typically required in sale transactions but may also be necessary in the context of a group practice dissolution, divorce or estate, and gift tax planning.

The goal is to provide both owners and third parties with a fair value of the practice. It is also usually a requirement for a purchasing doctor to secure bank financing.

We have appraised thousands of dental and specialty practices, and our techniques have become recognized as industry standards.

OUR DENTAL PRACTICE TRANSITION PROCESS

After initial discussions to determine your needs, we send you our appraisal questionnaire. You return the completed questionnaire along with any requested financial information, tax returns, etc. We then prepare the appraisal, getting additional input from you and your accountant along the way, and send you the completed appraisal. This usually takes about four weeks from the time we receive the requested documentation.

This appraisal is a powerful tool. Not only will it set forth your practice value and explain why the purchase is affordable to the buyer, it will also contain a roadmap for structuring the transition, including allocation of the purchase price, the method of financing, and the expected tax consequences for each party.

Request a NO OBLIGATION Consultation

Talk to Collier & Associates Today

(216) 765-1199

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