Due Diligence Issues When Buying or Selling
a Veterinary Practice
Many people have heard the term "due diligence" in the context of a business transaction but what, exactly, does it mean? Some treat due diligence like afterthought, but savvy buyers and sellers of veterinary practices leverage the due diligence process to maximize their financial results. In this 90-minute session, our speaker will:
• Demystify the due diligence process.
• For Sellers,explain what buyers want to see during due diligence.
• For Buyers, explain issues with veterinary practices that deserve close inspection.
• For all parties, give tips and tricks to make the due diligence process as smooth and efficient as possible. This makes it easier to close a good deal at the best price ... or to avoid a bad deal altogether!
This session is the second part of a three-part series. In 2021, the first installment of the series described the deal terms that are negotiated in legal documents when buying or selling a veterinary practice. In 2022, the second installment of the series will cover the due diligence process as outlined above. In 2023, the third installment of the series will address the overall road map to buying or selling a veterinary practice.
About the Speaker:
Patrick Klingborg, Attorney, San Diego, CA
Patrick Klingborg, Attorney, San Diego, CA
About the Speaker: Mr. Klingborg is an attorney at the Solomon Ward law firm and he represents owners of veterinary practices when selling their practices. His representation includes helping his clients negotiate the amount of the purchase price, the timing of the payment of the purchase price, the post-closing earnout structure, employment agreements between the selling practice owner and the buyer, real estate leases for the practice location and the allocation of risk for liabilities that may arise after the sale of the practice is complete. Patrick has handled the sale of many types of business, in deals ranging anywhere from a few hundred thousand dollars all the way up to a billion-dollar merger for a publicly traded company.
Patrick is an associate attorney at Solomon Ward and he can be reached at pklingborg@swsslaw.com or 619-238-4882.