Negotiating the purchase and sale of professional practices has been one of IBA’s primary business activities for approximately fifty years. Our past representation projects have included veterinary hospitals, general medicine practices, optometric practices, dental offices, law firms, and accounting practices. We have sold professional practices in small communities with limited competition and multiple location chains in major metropolitan areas.
Valuing a Business
In addition, to representing business owners in the sale of their professional practices. IBA’s professional practice division also offers consulting services in the following four areas:
- Valuation for purposes of internal sale, estate planning, or divorce.
- Negotiations for purposes of internal sale or to an identified party.
- Expert testimony in court for purposes of establishing the “fair market” value of a professional practice in a partnership breakup or divorce.
- Confidential target marketing and representation of professional practice buyers desiring an acquisition in a specific geographic area.
IBA has a professional partnership with Omni Practice Group for joint representation of select projects. Omni Practice Group is a leading provider of veterinary and dental practice transitions, sales, valuations, consulting and dental real estate services for Washington, Oregon, and California. Omni Practice Group also has experience in the sale of other professional practices in the medical industry. Rod Johnston, the owner of Omni Practice Group, is a frequent and valuable member of IBA’s professional practice sales team. Additional information on Omni Practice Group can be found at www.omni-pg.com.
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Dr. Mike Kovsky recently concluded the sale of my solo mixed practice and real estate. Being located in an agricultural area in Eastern Washington with limited future economic growth potential, Dr. Kovsky was very honest in what my expectations should be concerning practice value and the number of available purchasers.
When the suitable person was found he allowed us to discuss the practice and most aspects of the negotiations with the exception of purchase price, which I greatly appreciated. Through out the process Dr. Kovsky made himself available at all times to answer questions and solve problems that arose, so as to make the procedure as smooth as possible.
He truly earned his money with his advice to me concerning tax distribution and legal methods to avoid taxes and costs. Many of his suggestions, which most veterinarians are totally ignorant of, were not even presented by my own CPA.
Though my transaction was certainly not one of his biggest financially, I’m sure it was one of the most challenging and I greatly appreciate his efforts and interest in what was one of the biggest decisions of my life.
I will continue to recommend and utilize Dr. Kovsky in any financial dealings I may have in the future.
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Mitch Underwood DVM
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I just want to thank you for all your help in selling the Andresen Animal Clinic. The results were above my expectations. I feel the best decision I made was asking for your help in selling my practice.
I would be happy to discuss my experience with anyone planning to do business with you.
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Arnold P. Andres DVM
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I first met with Dr. Michael Kovsky in 1994 when he assisted me in finding and purchasing a small animal hospital in Washington State.
I turned to Dr. Kovsky again when I was ready to sell the practice. I first contacted Michael to discuss the sale in late 2002. I was anticipating a long, difficult process to sell my practice. However, within 30 day, Michael found an eager buyer. The sale closed within 90 days of when I first contacted Michael.
The sale went smoothly. Michael is an experienced professional who handled all details and problems to guide me through the process. I would recommend Michael without reservation to anyone in need of an experienced, professional, highly competent business broker.
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Steven C. Grossman DVM
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We wanted to extend a sincere thank you for your help in facilitating the closing of Bear Creek Animal Clinic. As seems typical for each practice, each closing presents its own unique set of challenges and problems to solve through the transaction. With your help and expertise, the individual issues were surmounted, and the acquisition was a success. As a corporation who is purchasing veterinary medical practices, we look forward to future practice transactions with you
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Tag Gornall & Lou Whittaker
Pet’s Choice Mergers & Acquisitions Group
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Last January we made the tough decision to sell our veterinary practice. We called three different brokerage firms and interviewed each broker/doctor. We found that of all the firms we called, Dr. Kovsky was the only one that took interest in us as individuals and not solely as a possible income. He made us comfortable by telling us why he sold his private practice. He asked us why we were selling and what we hoped to accomplish with the sale. Finally, he made a trip to Spokane to visit with us, explain what happens and to get to know our practice. There was never a time we didn’t feel we could ask a question to clarify a point of confusion.
During the sale, Dr. Kovsky tried to match buyers with the current goals of the practice, which helped alleviate some of the fears of the clients. We were kept informed of his progress through both written and telephone contact. Once offers were on the table, we had almost daily contact with updates and it was Dr. Kovsky’s negotiating skills, which finally brought closing into reality.
We would recommend Dr. Kovsky to any seller of a veterinary practice, for both the business side of the sale and the emotional aspect. We consider him a friend who helped us get through a very tough decision with the feeling we weren’t alone and knowing we were successful in the end.
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Dr. Kari & Dr. Peter Mundschenk
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Thank you very much for your assistance and representation in the selling of my veterinary hospital. The complexity of the deal and sheer magnitude of what we were dealing with could have been overwhelming without your professional background & expertise. Not only did you bring the deal together, you held it together during a very stressful negotiation process.
Best of luck and continued success.
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Dr. Randy Carsch
Please contact our office if you have any questions regarding the representation we provide our clients or if you would like to schedule a time to meet with an IBA associate with experience in the sale of a professional practice.