Medical experts are likely to be in high demand. In the next ten years, the industry is forecasted to grow by up to 16% (U.S Bureau of Labor Statistics, 2022). You might want to start considering selling your healthcare company, whether a private physician’s practice or a medical billing business, to gain from the anticipated boom in the healthcare market. Additionally, you might consider selling your healthcare if you want to retire soon or want to attempt a career switch to a different industry.
If you intend to sell your firm, the first step is to find a business broker with healthcare sector experience. Healthcare business brokers who are acquainted with the nuances and complexities in the healthcare sector, including the rules and insurance intricacies, can help your company navigate these obstacles, which can be daunting for most business owners. Integra Business Brokers has a wealth of expertise working with pharmaceutical and medical device companies with annual revenues ranging from $1 million to $70 million. Therefore, if you are ready to sell your company, we can help you get started. Feel free to contact us and start the selling process with us.
Business Brokers With Expertise In The Healthcare Sector
Medical offices, pharmaceutical firms, medical billing companies, and behavioral and mental health clinics are all part of the healthcare industry. Over the years, Integra Business Brokers has worked to fulfill its mission of assisting business owners in getting the best price for their businesses while ensuring a smooth sale process.
We have worked with a wide range of healthcare organizations. Learn how we have helped healthcare business owners in these areas by reading our case studies:
- Medical Billing
- Medical Supply
- Mental and Behavioral
- Healthcare Tech
- Senior Care
Selling Your Healthcare Enterprise
Prior to putting your healthcare company up for sale, you may be apprehensive about receiving the most money for it possible. Also, when a business is patient-facing, as is the case in the healthcare sector, it is crucial to ensure that the transition is as smooth as possible for patients. Here are some suggestions for streamlining the sales process for your company.
Valuing Your Business
Before selling, you must determine the valuation of your medical practice or other healthcare business. If you know how much your company is worth, you can assess if a buyer’s offer is reasonable, too low, or higher than anticipated. It is possible to estimate your company’s value by evaluating its assets, comparing it to recent sales of similar businesses, or looking at its future earnings potential.
So, before selling your business, a healthcare business broker can assist you in selecting the best appraisal strategy. As an alternative, a broker may be able to provide you with a valuation recommendation premised on extensive analysis.
Before making an offer or closing the deal, potential purchasers will want to see the financials of your business. Financial statements should be prepared monthly or quarterly to indicate how much money is coming in and out of your business.
Statements that are as simple as possible are preferable. You want a buyer to quickly see how much money your company makes each month or quarter versus how much it spends.
Detailed information on your clients or patients should be included in your accounting records. However, as a business owner in the healthcare sector, you do not want to disclose too much information about your patients. Still, at the same time, potential buyers should know how many patients your clinic serves and how often. If the company accepts insurance, clear paperwork should show how many patients are insured or self-pay.
Finding The Right Healthcare Business Broker
When selling your healthcare company, you do not have to do it alone. Using the services of an experienced broker can save you time and assist you with getting the right price while selling your business. Notably, while identifying a business broker to assist you, you ensure that they fulfill the following criteria:
- Possesses in-depth industry knowledge and expertise
- Is connected to prospective buyers
- Has contacts with lenders who can assist prospective purchasers in getting the financing they need for a deal
- Provide tips on selling the business.
- Offer assistance in evaluating the business.
Healthcare Mergers and Acquisitions
Merging with another healthcare company may be an alternative to selling your business entirely. To improve patient care and innovation, mergers and acquisitions (M&A) may be beneficial. Primary care and dermatology patients, for instance, can now receive both services at the same location if a primary healthcare physician and a dermatologist’s office merge.
As a result of M&As, smaller hospitals can expand their resources and provide better treatment to patients when acquired with larger healthcare institutions. A hospital may acquire an electronic health records company to streamline its electronic medical records, or it may acquire a transportation company to enhance patient transportation.
Integra Business Brokers can help you determine whether an M&A is the right course of action for your company to pursue.
Contact Integra Business Brokers For The Sale Of Your Healthcare Business
With over 300 closed transactions, Integra Business Brokers has the experience to guide you through the process easily. Since we began doing business, we have accumulated many five-star reviews and positive testimonials from satisfied customers.
If you are thinking about selling your business or are ready to do so right now, we are here to help. Because of this, you can be confident that we will provide you with the most accurate evaluation and match your company with enthusiastic buyers. Schedule a no-obligation consultation now.