Transition a Practice

There are many ways to sell and transition your practice, and NDP can help guide you through the process.

The goal is to transition your practice at the right time and to the right person. We want to listen to what you want to accomplish and then create a game plan that helps you meet your goals and creates a win-win situation for both you and your buyer.

Whether you want to transition your associate to partner, find a buyer for a more immediate transition or create a gradual transfer of ownership, our experience in the business of dentistry will provide a smooth transition, no matter which path you choose. Our Sellers services can include:

  • Educating the established doctor about the transition process prior to finding an associate and/or buyer
  • Communication guidelines and setting real expectations for the associateship, partnership or sale
  • Direction on associate contracts for the new doctor; salary, non-compete, and benefits
  • Financial Analysis or the Valuation of the dental practice to set the market price and to show a buyer/associate the historical cash flow
  • Facilitation of negotiation of transition terms including seller post close assistance, allocation, retreatment, etc.
  • Facilitation of the negotiations of lease assignment or sale of the building
  • Recommendations and documentation from attorneys who specialize in contracts for dental practices
  • Support of selected buyer in their diligence process to facilitate the overall transition for the seller

Listing Services

Finding the right candidate can take considerable effort. When NDP works for you, the responsibility of marketing your opportunity, screening and vetting candidates and facilitating all communication is critical in the success of the process.

We take the confidentiality of the process seriously and require non disclosures and confidentiality of all our candidates and also market your opportunity to ensure your referral base, staff and patients aren’t made aware (if that is your wish). In addition to traditional marketing methods to find the right buyer or partner we utilize the following methods:

  • Since 2004, NDP has lectured at dental schools and residency programs across the country.  These relationships allow the unique opportunity to market your practice to this ever-changing base;
  • We have strong relationships with key dental lenders, suppliers, key business vendors, other dental brokers, national study clubs, and national dental specific CPA firm;
  • We have a database of over 8,000 contacts which grows annually.

All of these resources allow us to develop key pools of candidates.  While there is always the element of luck, at NDP we pride ourselves on quality, not quantity and we strive to match personality, drive, clinical philosophy and set expectations up front, improving the chance of success. Contact us to list your practice and begin your search!

Seller Transition Consulting

Many times, a seller may already have a potential buyer in mind for the transition but they are unsure of “what’s next”?

Whether it’s an existing associate already in the practice or a referral from a colleague, NDP offers consulting services to established dentists on how to develop and implement the transition plan with their associate or buyer.

Our Seller Consulting Services can include everything from valuation through the legal documents, but can also be customized to exclude those pieces you feel you already have in control.  Our goal is to listen and customize a transition plan and engagement that fits your need.  Contact us to learn more about how we can help you through Sellers Consulting!

Specialty Transitions

There are nuances to consider when you are preparing to transition a specialty practice. Click here to learn about transitioning a specialty!

Valuations

One of the most common ways to determine the price of your practice for transition is by obtaining a formal valuation.  Our valuation team is led by a Certified Valuation Analyst and knows that your practice is more than just a number.  Click here to learn more about the drivers of valuation and our valuation process.

Let NDP help find the right practice for you!

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