Selling a dental practice after years of hard work and dedication is a major decision and possibly the largest financial transaction of your lifetime. The best way to navigate a practice transition is to work with an experienced dental practice lawyer who is committed to your success.
At Mahan Dental Law, we consult dentists around the country on all aspects of practice ownership, including practice sales and transitions. Knowing what’s at stake — your financial future and your legacy — we will work to protect your interests at all times.
While you are likely concerned with determining the value of the target practice and a fair price, it is also crucial to ensure that the buyer will carry on your legacy of professionalism and quality dental care. Our legal team will work to create terms and conditions in the sales agreement that achieve these objectives.
Trust us to guide you through the process and engage in a smooth transition into the next phase of your life, whether retirement or another business venture. When it comes to selling a dental practice, Mahan Dental Law is the experienced choice. Contact us today to get started.
How Mahan Law Can Help With Selling A Dental Practice
Given the various factors involved in selling a dental practice, it takes an attorney with an understanding of the unique needs and objectives of dental professionals to help you engage in a successful transaction. Our dental practice lawyers can help to guide you through all aspects of selling your dental practice, including:
- Appraising and pricing your dental practice
- Marketing outreach to promote the sale
- Finding a buyer through our network of brokers, lawyers, and other dental professionals
- Negotiating terms
- Preparing transaction documents (e.g. letter of intent, purchase agreement, noncompete agreement)
- Ensuring proper transfer of intangible assets
- Tax planning
- Representing you at closing
We have extensive experience handling stock sales and asset sales, as well as associate buy-ins, and sales of partnership interests. Being involved at the earliest stage of the process, before you even have a buyer, allows us to establish favorable deal terms and avoid delays and potential liabilities.
By collaborating with highly respected financial professionals with expertise in the dental industry, we will work to determine an accurate valuation and fair value of your practice that fully considers both tangible and intangible assets, including goodwill. Above all, we will work to help you maximize the return on your investment and protect your financial future.
Considerations for Selling a Dental Practice
There are several factors that come into play when selling a dental practice, including whether to sell assets or equity. While a stock sale is more advantageous to you as the seller from a tax perspective, the buyer will likely not want to assume any liability and prefer the deal to be structured as an asset sale.
Other considerations include whether the deal will be partially seller-financed or funded solely by the buyer. In any event, we will work to structure the deal that suits the needs of both parties and achieves your mutual objectives.
Because the buyer will conduct due diligence as part of entering into a letter of intent with you, it is essential to protect confidential business information and patient records through a well-conceived nondisclosure agreement. Let our legal team handle all the details of the transaction and help you maximize the value of your dental practice.
If your objective is to continue practicing but reduce your workload, an associate buy-in or partial sale of your dental practice is one way to segue into a practice transition. An associate buy-in can also help to improve revenues while giving the associate much-needed experience and income. At Mahan Dental Law, we can help to put an associate agreement in place that:
- Clarifies the rights, duties, and obligations of each party
- Determines compensation packages for remaining partners
- Minimizes tax consequences for both parties
- Plans an exit strategy
Ultimately, an associate buy-in allows for an orderly dental practice transition if/when you are ready to retire.
Contact Our Experienced Dental Attorneys Today
Selling a dental practice takes strategic planning and preparation, which makes it wise to have an experienced dental business lawyer on your team. When you partner with us, we will provide you with strategic representation and cost-effective service, work to protect your interests and investment, and help you engage in a successful and satisfying dental practice transition.
Contact our office today to set up a consultation.
Mahan Dental Law helps their clients with selling a dental practice throughout the United States including the states of Ohio and Kentucky.