Professional Transition Strategies
Professional Transition Strategies
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Professional Transition Strategies

Successful Transition: A Texas Dental Practice Finds a Buyer in Just 2 Days

1/26/2024 3:30:46 PM   |   Comments: 0   |   Views: 170
For nearly two decades, Professional Transition Strategies (PTS) has been dedicated to assisting dentists in buying, selling, starting practices, and navigating relocations or expansions. Every transition is a distinct journey, and it becomes particularly meaningful when there's a personal connection involved. Such was the case for PTS Practice Transition Consultant Todd Sheets, who, having been the personal dentist of Dr. O.Z. Helmer for 26 years, played a crucial role in transitioning the practice to the ideal candidate. Here's an in-depth look at this remarkable transaction.

The Scenario:
Dr. Helmer, the sole owner of a 50-year-old general dentistry practice in the Dallas-Fort Worth, Texas area, was planning to transition ownership as part of his retirement strategy. A well-planned retirement from a dental practice can commence as early as five years before, involving a business valuation and necessary improvements ahead of the sale. The practice, equipped with six operatories, boasted collections exceeding $850,000.

The Candidates:
PTS initiated an active marketing campaign to  competitive offers for the dental practice. Among the 60 candidates, Dr. Caitlin Flosi, a third-generation dentist with a strong family dentistry background, emerged as the standout choice. Sheets remarked on the impressive feat of finding the perfect buyer within 48 hours, emphasizing Dr. Flosi's determination and suitability for the opportunity.

The Discussion:
The conversation between Dr. Flosi and Dr. Helmer was impactful enough to prompt a dinner meeting facilitated by Sheets. During this meeting, Dr. Flosi successfully conveyed her commitment to upholding the legacy and success of the dental practice. The next day, a letter of intent (LOI), a crucial one-page understanding between the parties, outlining the business terms and intent to proceed with the transaction, was completed and countersigned.

The Process:
While the due diligence process typically spans 30 to 45 days based on the goals of both parties, open collaboration allowed Dr. Flosi and Dr. Helmer to navigate potential disruptions and find mutually beneficial solutions. The support of a team of advisors is crucial during the due diligence process, helping outline a clear transition path.

The Outcome:
PTS takes pride in sourcing a diverse pool of buyers, ensuring clients can choose the best match for their staff, patients, and life’s work. The process usually takes a few months, making the achievement of finding the perfect buyer for Dr. Helmer’s practice within two days particularly remarkable.

What's Next:
The journey of transitioning ownership of a dental practice varies, and there's no one-size-fits-all solution. Dentists looking to start the process can contact the experts at PTS for a complimentary valuation and kickstart the next phase of their professional journey.
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