In this special multi-part series, we’re bringing together attorneys from across the healthcare industry to help educate you on the decisions, challenges, and opportunities that come with growth, transition, and long-term planning.
Every attorney brings a different perspective to the table, and through this series, we hope to give you practical insights that help you better navigate the road ahead.
The biggest obstacles in a business transition often have little to do with the deal itself. From legal oversights to operational and contractual issues, seemingly small details can create significant complications when it’s time to sell.
On this episode of The Advisor’s Table, Brian takes a seat with Dental & Medical Counsel Founding Attorney Ali Oromchian to discuss these legal issues and how owners can get ahead of them before going to market.
Key Takeaways for Healthcare Business Owners:
- If you’re looking to retire in 1-3 years, get your HR house in order now. HR compliance is important to protect yourself from a lawsuit in retirement.
- The LOI serves as a skeleton for the legal documents. Having an attorney review an LOI will save you from frustrations and legal fees down the road.
- Start early by picking your advisors. Let this team navigate you over a few years while you prepare to sell.
“Anyone can review a legal document, but not everyone understands the industry to the point where they can look in between the lines and give a holistic review, ensuring that the deal goes as smoothly as possible.” – Ali Oromchian, Founding Attorney at Dental & Medical Counsel
Why This Matters for Healthcare Business Owners:
This episode gives healthcare business owners insight into common issues that can complicate a transition and how owners can proactively address them years before a sale.