Bass, Berry & Sims attorney Angela Humphreys authored an article for Physicians Practice examining five issues that physicians should consider prior to selling their practice. These are new issues to take into account following recent legislative and rulemaking activity and changes in deal dynamics. The five considerations Angela examines in the article include:
- How will you treat employed physicians in a transaction in the absence of non-competes?
- Will your transaction require notice to or approval from a state agency?
- Is your Corporate Transparency Act (CTA) compliance house in order?
- What are expectations around the vesting of rollover equity and a second sale transaction?
- Are there any assets outside the practice that you want to retain or ensure are sold along with the practice?
As Angela notes, “Although the above list is non-exhaustive, these recent changes in legislation, regulation and deal dynamics present new issues for physician owners to consider in advance of going to market and choosing a long-term partner. Evaluating these five considerations in advance provides the information needed to reach a satisfactory resolution of these issues with potential buyers.”
The full article, “5 New Issues Physicians Should Consider Prior to Selling Their Practice,” was published May 31 by Physicians Practice and is available online.