Thinking about selling your medical practice to a corporation?

It is a big decision— to go it alone or enlist help from an advisor or broker. This choice can really affect your sale price, the terms you get, and how long the entire process takes.

Advisor versus Broker

Advisors offer customised services with flexible payment options like hourly rates, retainers, or commissions based on the services you need. This lets you choose where you want help—whether it is market valuation, negotiating with buyers, or managing legal matters —while keeping control over other parts of the sale. They bring targeted expertise to the table, ensuring you get personalised support tailored to your needs. An expert advisor will also have the knowledge and experience to provide comprehensive management and support during the whole sale process. On the other hand, brokers may want to manage the sale process from start to finish and take a commission based on the final sale price.

What an Advisor Brings to the Table

An advisor plays a crucial role throughout the sale journey. They help with things like market valuation, crafting business profiles, negotiating with potential buyers, relationship management, and drafting important agreements like Heads of Agreement. They step in at critical moments to navigate complexities and protect your interests, even if you decide to manage some aspects independently. This flexibility lets you tap into professional expertise where it matters most to ensure a smooth and successful sale.

Do-It-Yourself Approach

There are scenarios where you might not need an advisor—like if you already have a buyer lined up, know your practice’s value well, and feel confident about the terms. In these cases, having a good lawyer to oversee the legal side might suffice. But whether you are dealing with internal transitions or selling to new buyers, having an advisor can bring impartial negotiation skills and strategic insights that are invaluable.

Using an Advisor

If you are gearing up to sell your medical practice without a buyer in sight, it can get complex and time-consuming. You would have to research the market for pricing and terms, create a compelling business profile, discreetly market your practice, screen potential buyers, negotiate deals, oversee due diligence, and finalise contracts and handovers. It is a lot to manage, which is where an advisor’s expertise can really be effective in streamlining the process and maximising your outcomes.

The Importance of Advisors

Advisors charge a fee based on their expertise in managing the intricate sale process. While it might seem tempting to cut costs by doing it all yourself, professional advisors bring crucial skills in valuation, negotiation, and legal navigation—similar to what you would expect when selling an asset like your home. Their guidance helps ensure you get the best price, favourable terms, and a seamless transition that preserves your practice’s ethos and stability under new ownership.

Achieving a “Good Sale”

A successful sale is not just about getting a fair price. It is also about securing terms that work for you and your team, ensuring a smooth transition, and maintaining the practice’s culture. With the right advisor by your side, you increase your chances of achieving these goals by navigating the complexities with confidence and expertise.

Why engage Piper Health?

Piper Health have successfully transacted a large number of sales of medical practices spanning a  wide variety of locations, sizes, and business structures.

Whatever your reasons for selling your medical practice, you can trust us to oversee any or all aspects of the sales process on your behalf and achieve the best possible outcome in the current market.