Transition Issues in Selling and Buying a Practice: Part 1

By Jared L. Shwartz

Growing a practice requires years of relationship building and providing quality care.  Selling a practice is the culmination of those efforts and can often provide financial security upon retirement.  Purchasing a practice is a major investment of time and money for buyers and often results in buyers becoming business owners for the first time in their professional careers.  While selling a practice relieves the seller from the day-to-day operation of running a business, and purchasing a practice empowers providers to control their own professional careers, buyers and sellers should be mindful of a number of issues relating to the transition the practice between the parties—issues that can give rise to legal liability and unforeseen expense if not addressed prior to the sale.

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