Business Exit Planning
Selling a Medical Technical Services Business
Don't believe anyone who tells you it's easy to sell a medical technical services business. A lot of things need to happen before you can successfully exit your business. We'll tell you how to thrive in the middle of it and get top dollar for your company.
You survived all the ups and downs of owning a business. Next, you'll need to prepare yourself to address the rigors of selling a medical technical services business.
Qualified buyers are constantly looking for attractive medical technical services businesses. Like always, unprofitable and poorly positioned businesses struggle to find buyers while sellers who have invested time and effort to prepare their sale are being rewarded in the marketplace.
Post-Sale Details
Due diligence has ended and you're ready to close on the sale of your medical technical services business. All that stands between you and the sale proceeds is a few signatures, right? Not so fast. Handing over the keys and saying goodbye to your employees is easier said than done, and requires thoughtful consideration prior to closing. Ideally, these and other post-sale details should be addressed early on. But if you haven't dealt with them yet, it's important to have a frank conversation with the buyer, your broker and other professionals as soon as possible.
Finding Prospects
Many sellers don't realize how many prospective buyers there are for their businesses. We frequently see qualified buyers emerge from the seller's network of business and personal acquaintances. In other cases, sellers take a proactive approach to finding likely buyers and contacting them directly. If you aren't generating interest in the general marketplace, consider approaching companies that sell complementary products or are closely situated in your supply chain.
Finding Medical Technical Services Business Buyers
It's difficult to predict where the buyer of your medical technical services business will come from. To cover all your bases, you'll need to conduct a broad buyer search process. Although it's helpful to target promotional tactics to likely buyers, allow for some exposure to the broader market. Sellers should also recognize the value of promoting their sale in trusted business networks, carefully balancing the need for confidentiality with the promotional potential of their contact base.
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