Business for Sale Case Studies
Medical billing services business sold

Account Matters, Inc. – Sale successfully brokered via auction process to a strategic buyer as a platform investment

Business Broker

Molly Hanson

Situation

Account Matters is a medical billing company initially founded by one of the sellers and then led by the second generation. The company supported occupational therapists, physical therapists and speech-language pathologists with billing and collections services. The business included two additional revenue streams for administrative services as a virtual front desk and credentialing services for practitioners.

The owners sought to sell the company and pursue other interests; they were referred to BayState Business Brokers’ Molly Hanson by their CPA and corporate attorney.

BayState Business Brokers’ Approach

Molly Hanson started by conducting a business valuation before beginning her role of marketing Account Matters. When marketing the business for sale, Molly was shocked by the incredible response. There was significant interest and offers over the asking price were flooding in. Quickly, Molly decided the best process to serve her client was to pivot and go to auction, which Molly has the experience and expertise to do.

Business Broker Molly Hanson managed the auction process commencing with an Indication of Intent (IOI) and ended with seven finalists. Subsequently the Letter of Intent (LOI) resulted in best and final offers for the business. The best and final offer was selected, awarding the business to a strategic buyer as a platform investment opportunity.

During the three months leading up to closing, the financial profile of the business changed. Further, as part of final negotiations of this asset sale, the buyers conducted a typical operational site visit. After the visit, the buyers included in the terms of the deal that several employees would not be rehired after closing. Molly led the seller and buyers through an in-depth conversation in which the seller stood up for the employees despite the new financial profile. Ultimately, the number of employees who would not be rehired was reduced without impacting the sale price.

Results

Through the auction process, the sellers were able to identify who they felt was the best buyer for the future of the business. The seller was able to move on to pursue other interests and the buyers learned a great deal during the sales process to leverage this acquisition and scale the business to expand into other sectors. The transaction closed at the best and final price as a result of the auction process.

What Our Clients Say

My business partner and I were referred to Molly Hanson at BayState Business Brokers knowing this was our first time selling our business. The entire process was made easier because Molly was always guiding us, giving us options and helping us make decisions that were in our best interest. Molly knows her business and if you are thinking of selling, she is the person to call. She stays on top of everything that goes on and her communication with us was the best. We learned a lot and are so grateful to Molly for always being there for us during the sale.

Diane Mccutcheon, Founder and Former CEO of Account Matters, Inc.

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Account Matters, Inc. – Sale successfully brokered via auction process to a strategic buyer as a platform investment

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Auto repair shop in an affluent Boston suburb sold to individual buyer for $425,000

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Amada Senior Care Franchise – Industry Buyer Acquires High-Performing, Professional Home Health Care Business

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The Wellness Room: Quickly Securing a Qualified Buyer to Continue Owner’s Legacy of Providing Quality Behavioral Health Services

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Community Rehab Care: Finding the Perfect Buyer, Enabling Owners to Retire and Continue Their Legacy

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