"Dan" always envisioned owning his own medical practice. After years of working for someone else, he finally found an existing practice in a great location.
He made an offer. The offer was accepted. Everything appeared to be on track ... until the due diligence process began.
As part of the process, we worked together to create a due diligence request, outlining the documents the seller needed to provide for review. This helps to identify any risks or gaps before moving forward.
It wasn't long before Dan uncovered several unexpected issues. From equipment concerns to discrepancies in financial records, it became clear that the seller had not been fully transparent about the practice’s condition. These revelations were key in renegotiating the terms, including a lower purchase price.
Key Takeaway: Never overlook the importance of due diligence when making a major purchase. Thanks to a thorough investigation, Dan avoided some nasty surprises and set his practice up for long-term success.
Are you considering purchasing a business? Reach out for help navigating the due diligence process.
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