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Who Is Thompson River Advisory?Thompson River Advisory was founded by Ron Booth, a Kansas City native who began his career with the national audit, assurance, advisory and tax firm PricewaterhouseCoopers. From there, Mr. Booth served as the Chief Financial Officer of a national mortgage bank focused on buying mortgage banks on a nationwide basis. A CPA by trade, Mr. Booth was a co-founder of a Kansas City-based multi-specialty medical practice where he led the acquisition of medical practices, surgery centers and other ancillary businesses. Mr. Booth founded Thompson River Advisory because he discovered that physician owners largely went unrepresented in transactions involving their practice.
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What is a Sell Side Advisory Firm?A sell-side advisory firm advises physician-owners contemplating a transition of the ownership of their medical practice. This could mean a sale of the practice, a merger of the practice with another practice, partnering with a private equity firm or a recapitalization necessary to allow a partner to retire with dignity.
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TransactionsClosed Transactions: •Sale of independent surgical practice with five doctors and 25 staff members. This transaction included the design of a transition plan for a retiring partner and leased real estate. •Sale of independent sub-specialty medical practice to local multi-specialty practice. This transaction also included a transition plan for a retiring partner and leased real estate. •Sale of a majority interest in surgery center located in the Kansas City Region. As part of retirement strategy, this transaction brought in new ownership and capital, a professional management company and improve profitability resulted. •Purchase of a minority interest in a surgery center owned by a large health system including bringing in new physician partners. •Others Underway: •Represents seller in sale, merger or re-capitalization of surgical medical practice •Represents seller in transaction with private equity group •Represents seller in transaction with large, national, physician-owned multi-specialty group •Others
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How Does Thompson River Advisory Get Paid?As a sell-side advisory firm, Thompson River Advisory’s fee structure is designed to create alignment between your interest as owners of the medical practice and us. The more value that is created in a transition of your medical practice, the larger the reward for Thompson River Advisory. There are two components to our fee structure; an engagement fee, usually structured as a monthly retainer, and a success fee. In most cases, the success fee will be negotiated with the buyers interested in your practice. We can discuss this fee arrangement during our initial consultation.
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Why have other physician owners chosen Thompson River Advisory?The idea of selling your medical practice can be daunting. There are many aspects to consider and as a practicing physician, time is scarce. Finding a firm, like Thompson River Advisory, to help lead you through the process can be a life (and career) saver. Thompson River Advisory knows the process, knows how to lead a practice through the transaction and knows what matters to you, the physician owner. Many local medical consulting practices choose Thompson River Advisory to help their clients through a sale, merger or recapitalization.
Ron Booth CPA
Founder and Managing Director of Thompson River Advisory
What We Do
Selling your medical practice can be complicated. Thompson River Advisory can help you wade through the details so that you can focus on making the best decision possible for your career, your partners and your families.
Advise Your Board
Many decisions about the future of a medical practice begin at the board level. Thompson River Advisory serves as a trusted advisor to boards contemplating practice ownership transitions.
Identify potential acquirors/partners
With knowledge of the local market and exposure to national acquirors of medical practices, Thompson River Advisory helps identify those firms that may prove to be the best partners for medical practices.
Preparation of Practice for Evaluation
In order to maximize the value of your medical practice, its important that the essential information about your practice is accumulated and presented in a clear, concise manner. Thompson River Advisory’s services include accumulating and organizing your medical practice’s information so that potential acquirors and partners can understand the value proposition of your medical practice.
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Organization of practice information
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Preparation of confidential information memorandum
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Solicitation of potential acquirers
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Coordination of transaction calls and meetings
Management of Due Diligence Process
Once potential partners are identified, they will want to understand your practice better through a due diligence process. During this process, it is important that you have an experienced representative like Thompson River Advisory, fielding questions and providing follow-up answers.
Getting the Best Deal
It is vitally important for medical practices to have an expert on their side when it comes to negotiating purchase and sale agreements and physician employment agreements. While attorneys play an integral part of this process, having an operation-minded advisor leading the negotiations is critical. Thompson River Advisory’s experience in transactions and practice operations sets us apart.
Resources for Physician Owners
Explore expert insights, guides, and industry updates to help you navigate the sale, merger, or partnership of your medical practice with confidence. Stay informed and make strategic decisions with Thompson River Advisory.