It all starts with the initial consultation call. We will walk you through the overall M&A process and help answer any questions you may have about the services we offer. The company’s history, financial performance, and organizational structure will be the core topics of discussion as we work to better understand the value story of your medical practice. We will also take the time to discuss your personal story, your vision for the right acquisition partner, and your expectations for the overall deal structure to ensure we’re all in alignment with the right path forward. Once we have a complete picture of the overall acquisition opportunity, our advisors will provide you with guidance on the total enterprise value that we would expect from potential acquisition candidates.

As a next step, our deal team will work diligently to craft a bespoke M&A strategy that is tailored to your specific goals. A big part of this process involves creating a Confidential Information Memorandum (also referred to as a “CIM”), which will serve as the primary presentation that will be shared with qualified acquisition candidates. The CIM details all customary information that any serious buyer would require prior to submitting an offer and includes items like the company’s adjusted financial statements, key personnel details, growth opportunities, provider production breakdown, payer mix data, etc. In addition to the CIM, our team will also prepare a one-page summary of the business (also referred to as a “teaser”) that can be shared with buyers prior to signing the NDA; the teaser only provides surface level details with no identifying information that could reveal the name of the company or the identity of the physicians.

For most of our clients, it’s not always all about the money. There are other factors beyond the economic terms that need to be considered. Our team will ensure we understand the components of the deal that are most important to you so that we can identify the best group of potential acquisition candidates that align with your vision for the right financial partner. We will leverage the thousands of names in our global M&A network to establish a list of targets that we believe would be a good fit for the transaction based on your goals. After you review and approve the list of potential acquisition candidates, our deal team will reach out to the appropriate parties to share some surface level “teaser” details as the first step in creating a competitive bidding environment for the deal. Nothing about the initial outreach will include any information that could reveal the name of the practice or the identity of the practicing physicians. From there, we will ensure all interested parties meet your approval and sign the NDA before sharing the CIM.

After we distribute the CIM to the qualified acquisition candidates on the list, we will address their initial questions and data requests while helping them better understand the overall value story. This part of the process gives the Sawyer Price team the opportunity to evaluate each buyer beyond just the numbers. And while it’s more of an art than a science, our team will be looking for things like compatibility, culture, long- term vision, and other factors that will help our side better assess the probability of a successful outcome. For the qualified buyers that we believe are best suited to advance to the next round, we will ensure you get the opportunity to assess the overall deal chemistry firsthand over a series of conference calls. Shortly thereafter, we will look to collect offers from the top contenders by the preset deadline with a subsequent round of best and final bids. Our team will manage the negotiations throughout the entire process while helping the attorneys involved find alignment on the terms LOI terms.

Once the LOI has been signed, our team will help facilitate the buyer’s due diligence investigation, which is usually driven by a checklist of information requests. Whether the buyer outsources their due diligence to an outside accounting firm or completes the process in-house, you will need to provide financial, legal, and operational information that will include company bank statements, tax returns, employment agreements, insurance policies, etc. As core parts of the due diligence process are completed, we will coordinate with the attorneys on both sides to negotiate and finalize the terms of the purchase agreement and other necessary legal agreements in preparation for the closing. After all due diligence requests have been satisfied and we have fully executed legal agreements in place, the deal gets closed when the buyer wires the funds due at closing.