Dental Practice Representation
Our dental practice services help general dentists and specialists (orthodontics, pedodontics, endodontics, oral surgeons, etc.) with the following:
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Full-Service Acquisition Representation for Practice Buyers
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Full-Service Representation for Practice Sellers
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Partnership Changes (Buy-Ins & Buy-Outs)
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Closely-Held Transactions (Mentor/Associate & Family Owned Practices)
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Commercial Lease Review for New Practices (Start-Ups)
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Commercial Lease Negotiations (for Renewals)
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Real Estate Purchase Contracts
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New Entity Creation
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Multiple Practice Ownership
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Associate Agreements (Dental Students, Associates and Employers)
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Sales to Dental Support Organizations (DSO)
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Formation of Dental Support Organizations (DSO)
In my dental practice acquisition, I can honestly say Natasha was the most important and diligent team member I worked with. She explained each step of the process very thoroughly, was always on top of the case, and was always two steps ahead of the game. She certainly had my best interest in mind, was honest, experienced, and efficient. She made time for my multiple questions and concerns. I would highly recommend Natasha; I couldn't have asked for a better acquisition attorney.
Dental Practice Purchase
Dental Practice Representation
At The Gillis Firm, we strive not only for quality of representation but also understand the fact that a lot of our aspiring healthcare professionals have acquisition budgets which aren’t infinite.
We approach every deal with the understanding that our clients are equipped with making their own business decisions but need education and legal guidance to execute their business decisions. Whether you are a buyer or a seller of a medical or dental practice, the acquisition process can be cumbersome. Our goal is to guide you through the process to ensure that you are fully supported at each stage of the process to achieve your goal with transparency of fees so that you can focus on your deal without concern about your legal bill.
We work with industry professionals, including dental-specific practice brokers, CPAs, insurance agents, lenders, post-closing transition consultants, commercial healthcare real estate brokers, and other industry professionals, to help move you through the process efficiently.
The dental practice acquisition process has multiple steps, particularly for buyers, including but not limited to:
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Financing/Approval Process
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Initial Preview of the Practice/Letter of Intent
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Purchase Agreement Drafting/Negotiations
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Fulfillment of Lending Requirements (if applicable)
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Obtaining Insurances
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Entity Formation
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Lease Review/Assignment or Purchase Contract for the Underlying Real Estate
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Ancillary Matters Such as Post-Closing Seller Transitional Services and Staff Considerations
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Closing/Escrow/Disbursement of Funds
We also provide limited-scope services in the event that you only want a review of the purchase agreement or lease, but we strongly encourage our clients to take advantage of our full-service, flat-fee solution to make sure your deal is handled appropriately.
We work professionally to give you quality services and confidence in the process. As a courtesy to our healthcare clients, we provide existing clients with flexible teleconference options to discuss your case.
What Can You Expect When Engaging The Gillis Firm?
We believe in active and effective communication across team boards. Whether you are acquiring a practice or selling your practice, you will likely have professional teams that are all advancing a portion of your transition. We firmly believe in giving our clients maximum advocacy by ensuring that lines of communication are open and taking a goals-oriented approach to avoid stressing our clients with a heavy “to-do” list. We not only focus on the legal side of drafting/reading/negotiating contracts but also on the administrative case management with frequent invitations to engage on a review call, case status updates, and email correspondence for any interim or procedural items.
We focus on efficiency by turning the transition into a process-driven project to help give you more control over substantive items rather than worrying about minute details of the acquisition process. This allows us to have more ability to steer your deal smoothly while allowing you to focus on the target practice.
We work under a transparent flat-fee model for most of our transitions to avoid budgeting concerns especially for our new practice owners or sellers who are concerned with their bottom-line net after the sale.
We Offer a Unique Perspective to Acquisitions for Associate Buy-Outs and Family Members through Our Collaborative Transitions Service
Dental practice acquisitions, by nature, should not be adversarial but like every business activity, there will be a lot of negotiation especially between two parties whose lives have converged only briefly to accomplish a similar goal: to hand off or take over an existing office.
The difference between mentor/mentee (associate) sales (including family sales) and sales between two people who are otherwise strangers (who don’t fully know one another) is one of established trust and expectations based on previous dealings. Without an established relationship, it is natural to be concerned with the other party’s intention. Common buyer concerns are: “Is the seller hiding something?” “What if the seller is lying?” “Is this practice really what the seller is portraying it to be?” Similarly, common seller concerns are: “Is this buyer serious?” “Is this buyer genuine or do they have secret motives?” “Can I trust this buyer with my staff and patients?” The process is guarded.
We enjoy working with families and mentor/mentees for associate buy-ins/buy-outs because we can focus on helping both parties reach a common goal. We also understand that because of the unique pre-existing relationship, there is a different “touch” that is often required to avoid causing potential conflict due to the perceived involvement of an attorney. For many (not all) of our closely-held transitions, a collaborative transition can be a great way to navigate the acquisition process in a mutually beneficial manner for both the buyer and seller.
What is a Collaborative Transition?
This is a unique process that is gaining a lot of momentum in traditionally adversarial areas of law such as family law where both parties agree that they share common goals and need mutual assistance to reach their transition goals in an amicable and mutually fair manner. What this means in the acquisition/sale world is that the buyer and seller have determined that they want to engage in the process together but need assistance with navigating contracts and the process, itself, rather than navigating expectations by each side. The focus becomes more on moving the process forward rather than focusing on maximizing the individual interests. In a traditional purchase/sale environment, each party hires their own attorney that will privately consult with their own client to advocate for that buyer or seller’s best interests. That extra layer of advocacy is expected and common because of the lack of pre-existing relationship between the parties. Closely-held transitions, on the other hand, can often benefit joint correspondence, shared processes and even shared fees which can lower their individual legal expense.
Because of the nature of collaborative transitions, we vet each client very carefully to ensure that they are proper candidates for this service.
If you are a dental practice buyer or seller looking for assistance with your future sale or practice acquisition, feel free to contact us to schedule your complimentary 30 minute orientation call.