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.
A practice sale doesn’t end when the deal closes. In many cases, sellers have important responsibilities that continue well beyond the closing date. Understanding what to expect and how to prepare can make a significant difference in the transition that follows.
In this episode of The Advisor’s Table, Brian sits down with Eskow Law Group Partner Eric Masson to break down the most common post-closing obligations sellers agree to in a practice sale. They dive into the steps owners can take to make the post-closing experience as smooth as possible.
Key Takeaways for Healthcare Business Owners:
- Have an attorney review the letter of intent before signing. If a particular term or consideration is important to the seller, make sure it is addressed in the LOI before moving forward.
- Communication with the buyer helps with a smooth transition. Ask operational and integration questions before closing. These areas are often where misunderstandings and frustrations between buyers and sellers arise during the transition.
- Keep your end goals in focus throughout the legal process. The legal stage of a transaction can be intimidating and exhausting. Understand what you want to accomplish through the transition and make sure your buyer aligns with those objectives.
“The documentation can be intimidating. It’s important for every client, no matter the deal, to understand how the documents fit together like a puzzle piece as well as their liabilities and risks. – Eric Masson, Partner at Eskow Law Group
Why This Matters for Healthcare Business Owners:
This episode gives healthcare business owners a better understanding of what comes after closing and how to prepare.