Tag Archives: Due Diligence

Making Sure Everyone Is On The Same Page: Letters Of Intent

When you are buying or selling a healthcare practice, even simple, straightforward transactions can become needlessly complex.  Miscommunications and misunderstandings over key terms of the transaction can emerge, requiring the parties to spend unnecessary time, energy, and money on attorneys’ fees to resolve disputes.  One of the best ways to avoid, or at least minimize, these misunderstandings is through a letter of intent, also sometimes referred to as a memorandum of understanding or a term sheet.

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What Diligence Is Due When Buying A Practice?

Most doctors know that, as part of buying a practice, they need to perform due diligence into the practice’s records to ensure they know what they are buying.  However, determining what that diligence will entail can vary widely, depending on the circumstances.  As a general rule, you should review at least the following:

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