Dental practice transitions require advanced planning and thorough preparation. Whether you are selling, buying, or merging a dental practice, it is wise to consult with an experienced dental practice lawyer. That’s where Mahan Dental Law comes in.
We regularly represent dental professionals around the county on all aspects of practice ownership, including dental practice transitions. From dental practice sales and acquisitions to dental practice startups and associate buy-ins, our legal team provides strategic representation and cost-effective service.
Lead attorney Anthony Mahan has decades of experience working with medical professionals and profoundly understands their unique needs and objectives. By collaborating with a nationwide network of dental practice attorneys and advisers, he works to help our dental clients navigate practice transitions professionally and expediently.
Our legal team is highly experienced in negotiating buy-sell transactions and helps both new and established dentists navigate all aspects of practice transitions. When you become our client, you can rest assured that your interests and your investment will be protected. Contact us today to set up a consultation.
Transitions When Selling a Dental Practice
Knowing that selling your dental practice is a major decision, we will provide you with trustworthy advice and counsel and work to help you preserve your legacy. Our dental practice transition lawyers have the skills and experience to negotiate the deal terms and prepare the necessary transaction documents, including:
- Letter of intent, which conveys your intent to sell your dental practice and the buyer’s intent to acquire it; however a letter of intent is typically nonbinding. The buyer has the right to conduct due diligence for a specified time period during which the seller agrees not to entertain other offers.
- Confidentiality agreement to protect your practice and your patients’ medical privacy since the buyer’s due diligence involves examining both your business information and patient records.
- Purchase agreement to establish how your dental practice will transition to the buyer. A well-conceived purchase agreement should specify the terms of the sale and set forth the representations, warranties, duties, and obligations of both parties.
- Noncompete agreement that protects the buyer by prohibiting the seller from starting a competing practice and using patient lists or trade secrets to solicit former clients.
In addition, we prepare the various legal documents necessary to effectuate the transfer of tangible assets (e.g., assignment of the lease, business license, vendor contracts, equipment leases). Let us handle all the details from inception to closing and advise you on the related tax and legal implications of selling your dental practice.
Transitions When Buying a Dental Practice
Buying a dental practice can be very rewarding, but it takes the experienced dental practice transition attorneys at Mahan Dental Law to close the deal and protect your interests. Our legal team will guide you through every phase of the transaction, including:
- Negotiating the basic sale terms (e.g. sales price, allocation, financing)
- Determining the structure (e.g. stock sale, asset sale, partnership, membership)
- Arranging for financing
- Conducting due diligence
- Clarifying restrictive covenants
- Ensuring the transfer of account receivables and intangible assets mentioned above
- Preparing closing documents
- Representing you at the closing
Knowing that a successful deal hinges on a thorough due diligence analysis, we will work to verify the target dental practice is in good financial condition, has accurate income projections, and whether it has any existing or potential legal liabilities.
Because buying a dental practice typically involves hiring and training key employees, our attorneys will also help develop employment agreements, job descriptions, and employee handbooks to clarify the employer-employee relationship.
Finally, we can introduce you to lenders and funders with expertise in the dental space to secure the necessary financing and review the terms of loan documents to ensure that your interests are protected. When it comes to buying a dental practice, Mahan Dental Law is the informed choice in dental practice transitions.
Other Services Mahan Dental Law Provides
In addition to handling dental practice transitions, our firm provides ongoing counsel through our retainer plans on the following matters:
- Practice valuations
- Regulatory compliance
- Human resource consulting
- Real estate transactions (leasing, buying, construction)
- Civil litigation
- Administrative proceedings
By establishing a professional working relationship with us, you will be free to focus on providing your patients with the quality care they deserve and establishing your legacy in the dental profession.
Contact Our Dental Practice Transition Attorneys
Buying or selling a dental practice is a big step in your professional career as well as a complicated transaction involving many legal concerns. The best way to navigate a dental practice transition is to have the informed representation Mahan Dental Law provides.
We know the ins and outs of dental practice sales and acquisitions and have a well-earned reputation as trustworthy advisers. Whether you are starting or buying a practice, we will help you transition into the next chapter of your life and realize your vision. Contact our office to speak to an experienced dental practice lawyer.
Mahan Dental Law helps their clients with dental practice transitions throughout the United States including the states of Ohio and Kentucky.