Follow OHCA on Facebook Follow OHCA on Twitter Follow OHCA on Linkedin


Live Teleconferences & Webinars

How to Prepare a Business for Sale: A Three-Year Game Plan


Click here to print brochure!

How to Prepare a Business for Sale: A Three-Year Game Plan

June 5, 2019
2:00 - 3:30 pm
1 CEU for NHA, CPA, CEHCH, CEAL, Nurses

This webinar will share information on how a company owner can start preparing their business for sale as much as three years out. The presentation will be of interest to owners of facilities and to senior managers of companies that hold multiple facilities. The presentation will include information on building your team, working with your broker to best position your business, entering into contracts and business relationships and preparing for due diligence.

Learning Objectives:

? Learn how to form a team of advisers for the sale of a business.
? Identify operational and financial aspects of the company to focus on improving.
? Understand how to approach new business decisions or relationships with a sale in mind.
? Learn how to prepare for due diligence requests that will come from a buyer.
How to Prepare a Business for Sale: A Three-Year Game Plan

June 5, 2019
2:00 - 3:30 pm


A. Building Your Team
a. Broker/Business Adviser
b. Accountant/Financial Adviser
c. Legal Counsel

B. Working with Your Broker to Best Position Your Business for Sale
a. Get a business evaluation/appraisal ? this will give you an idea of your company?s value.
b. Clean up your financials ? any buyer will see these, so spend time making them good.
c. Assets ? this is the core of your company?s value, so evaluate if changes are needed.
d. Liabilities ? these usually need to be paid at closing, so figure out what you owe.
e. Business Relationships ? determine if these are key to value and, if so, firm them up.
f. Leadership/Employees ? think about who will lead the company after you sell.

C. Entering into Contracts and Business Relationships
a. Negotiate contracts to let you get out of them or assign them to the buyer.
b. Make sure that contracts covering multiple divisions or facilities are isolated.
c. Ensure contracts are correctly signed, have blanks filled in, and have exhibits attached.
d. Negotiate arms-length contracts where possible (or understand when you?re not).
e. Always ask yourself how the contract or relationship will look to the purchaser.
f. Think carefully about multi-year agreements ? your buyer may view them negatively.
g. If you might sell to a competitor, think about their existing relationships and duplication.
h. Put in place a contract management system.

D. Preparing for Due Diligence
a. Contracts ? Start gathering and ensuring these are complete.
b. Litigation ? Start managing litigation with a possible sale in mind.
c. Insurance ? Work with your broker to make sure coverage is appropriate.
d. Property ? Collect leases, deeds, certificates of occupancy, and other property records.
e. Taxes ? Keep copies of your federal, state, and local tax returns handy.
f. Debt ? Review what you owe and think about how you will pay it off when you sell.
g. Investigations ? Keep in mind that any investigations or complaints need to be disclosed.
h. Human Resources ? Work with your HR people to think about how you will provide information about employees when you sell.
Andrew M. Gammill
Dinsmore & Shohl LLP - Legal Counsel

Andrew Gammill is a member of the Corporate Department at Dinsmore & Shohl LLP. Based in the firm?s Columbus office, he focuses his practice on commercial lending, real estate, and mergers and acquisitions, especially in the health care sector. He represents buyers and sellers, property owners, and lenders in a wide variety of transactions and in general corporate matters. His philosophy is to protect his clients while proactively working to get deals done. Prior to attending law school, Andrew was an award-winning journalist, spending much of his first career as an education reporter at The Indianapolis Star.
Each program is approved for one (1.0) hour of credit for Nurses, NHA, Certified Executives for Assisted Living (CEAL), and Certified Executives for Home Care & Hospice (CEHCH). Individual attendance will be monitored throughout the call. Only those attending the entire call will be awarded continuing education credit. All participants regardless of need for CEUs, will receive a certificate of attendance. This course is considered a self-study course by Ohio BELTSS. Administrators are reminded that BELTSS limits webinars (home/self-study) credits to a total of ten (10.0) per renewal period.

How much does it cost?

Facilities will pay one low fee for an unlimited number of participants. However, the number and access code is valid only for one phone line/computer at the location registered with the Association. Any additional phone connections calling in will be billed the individual session registration fee.

Individual Webinar Registration Fee:

Members, prior to May 22, $55 per location
Non Members, prior to May 22, $130

Members, May 22 and after, $75
Non Members, May 22 and after, $175