Buying a chiropractic practice is both exciting and stressful – especially when it comes to picking the right practice. This is because chiropractic clinic acquisitions are incredibly complex with many moving parts. The great news is you don’t have to do this alone – PPS offers Buyer’s Representation services to provide the expertise, guidance + structure needed to smoothly + successfully complete your acquisition and fast-track your success in your new clinic.
In this package our team will:
Serve as the main point of contact for the acquisition, including full negotiation of the terms of the sale
Work with your CPA to suggest and review items for due diligence
Draft the initial versions of the Letter of Intent and Purchase and Sale Agreements**
Serve as a much-needed neutral buffer to manage + contain all of the intense emotions that can rise to the surface as the transaction proceeds
Advise on and provide templates for a successful post-closing transition
Provide assistance and advice at every step of the sales process, from questions on the impact of different sale terms, to managing the inevitable points of contention between the buyer and seller, to providing a detailed plan to make sure that all transition tasks are checked off for a clean and complete transition of ownership
If needed, create a detailed clinic prospectus to provide the information necessary for lending*
Time Savings for the buying doctor :: average of 75-200 hours, depending on complexity of the acquisition
* If a prospectus is desired an upfront fee of $1699 will be required, and that fee will be applied to the commission at closing. The prospectus creation will be dependent on the selling doctor being willing to provide the information needed to create the prospectus in a timely manner using standard PPS forms and procedures.
** Please note that these documents are generated from templates and you will still need to retain an attorney to ensure that all of the specific needs of your purchase are being met. However, the documents we use have been used extensively for chiropractic clinic sales all around the country and generally require very minimal modifications, saving our clients thousands in legal fees when compared to having an attorney create new sales documents.
Buyer Representation is full-service representation on the acquisition process, including support to set up the post-sale transition. This package also includes access to our lending network and basic lending acquisition support, as well as a discount on the Premium Lending + Acquisition Consulting services that are available separately through our Finance division.
Buyer Representation Costs
Initial Fee per Clinic :: $500 per clinic of interest (fee waived if PPS has providedValuation services on the practice)
Closing Commission :: 6% of the practice purchase amount (minimum fee of $12,000), which is due upon the successful close of the acquisition.