Author: Dana Jacoby
Merging or selling your medical practice is one of the most critical decisions a physician leader can make. From finding the right partner to finalizing the terms of the deal, Vector Medical Group’s merger and acquisition toolkit offers you the knowledge and support you’ll need every step of the way. Read on to learn how a merger and acquisition toolkit can empower you to make the right decisions for your organization.
You’ll Uncover The Right Next Step For Your Practice
Before we dive into the details of a merger or acquisition, our toolkit will help you explore your goals behind a merger and what you hope to accomplish in the short and long term. If you decide a merger isn’t right for your organization at this time, we’ll work with you to find other solutions and strategies to get you where you want to go.
You’ll Find A High-Quality Partner….
Once you decide a merger or acquisition is right for you, you need to determine what kind of partner is right for you. Do you need the financial backing of a larger institution? Are you looking for a physician leader you can join forces with? Our toolkit will help you determine the right partner for you – and give you valuable guidance on how to reach out to potential partners, vet offers, and ultimately, make a final decision.
….Who We’ll Ensure Is A Good Fit
Even after you decide to pursue a merger or acquisition with one organization, you’ll need to do your homework to ensure the deal is right for both parties. Our toolkit contains an extensive due diligence checklist that covers everything from culture to contractual obligations, including:
- Bylaws and amendments to operating agreements
- Shareholder and board of director meeting notes
- Employment agreements
- Past and current insurance and liability claims
- Communications with the Department of Labor, OSHA, IRS, and more
- Financial health
You’ll Negotiate A Stronger Deal
After a thorough due diligence period, it’s time to negotiate the terms of the merger or acquisition. Our toolkit will help you determine the terms of the merger, give you strategies for negotiating your desired terms, and ensure both parties fill out the right paperwork to finalize the deal.
You’ll Have A Smoother Implementation
Believe it or not, finalizing the deal is only half the battle; integrating your practice into another organization comes with its own set of considerations. Our support doesn’t stop when you sign the papers – we provide tools and checklists to help you think through the merger implementation process and ensure you create a plan for day-to-day operations, including debt resolution, personnel management, governance, contracts, and asset management.
Crafted specifically for physician groups, Vector Medical Group’s toolkit, combined with the expertise of our healthcare consultants, can give you the confidence and knowledge to start the next chapter of your practice’s journey. Are you considering a merger or acquisition, or looking for more support in finalizing a negotiation? Book an introductory consultation with Vector Medical Group today!