While every owner looking to sell their business wants to find a highly qualified buyer, many also want to maintain their legacy. That was the case with the owners of Watertown, MA-based Community Rehab Care (CRC), who were seeking to sell their business and retire. The owners wanted to be sure the buyer would continue to provide quality physical and occupational rehabilitation services to people in Greater Boston through CRC’s facility and valued staff.
To accomplish their goals, CRC’s owners reached out to broker Sarah Grossman at BayState Business Brokers, which has a successful track record selling businesses with revenues from $1 to $15 million in a variety of industries, including healthcare. Using BayState Business Brokers’ proven process for vetting qualified buyers, Sarah quickly identified Neofect, a publicly held company based in Korea with an office in California that was looking to enter Boston’s healthcare community.
The BayState Confidential Brief Sarah prepared for Neofect comprised all pertinent information about CRC, including market analyses, history of the business, services provided and key growth opportunities. After reviewing this comprehensive report, Neofect quickly recognized that acquiring CRC would be an ideal way to expand. Its neurorehabilitation devices are a perfect complement to the rehabilitation and occupational patient care that CRC’s staff offers in its facility. CRC’s owners were equally impressed with Neofect’s credentials.
The quick identification of a qualified buyer, coupled with expert guidance, allowed CRC’s owners to sell their business in less than 60 days at their ideal price point and terms. The sellers were then able to retire with the peace of mind that their business is in the excellent hands of a new owner who will continue their legacy.
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