At DDSmatch, we work in tandem with a host of trusted advisors to ensure seamless transitions for the dentists we serve. Through our relationships, we work together to help our clients meet their specific goals. At DDSmatch, it is important to note that we only work for the seller, we believe that dual representation is no representation. The following is a great example of how a successful transition comes together…
With the help and collaboration of trusted referral sources, Cameron Elrod & Jamie Gialanella were able to help Dr. G. Michael Kabot with the transition of his practice to Havens Orthodontics (Motor City Dental Partners). The transition would not have been possible without attorney Matt LaMaster of LaMaster Law (sellers attorney), Blue & Co. CPAs/Advisors and Live Oak Bank. DDSmatch has partnered with Blue & Co to expertly value each practice sold. This third-party valuation is key in that it allows the buyer and the buyers advisors to analyze the practice quickly. It also allows DDSmatch the opportunity to have an unbiased price set for the practice sale.
This sale was unique in both the timing and purchase price. The practice sold for 60%+ over the valuation price prior to it even hitting the market officially. DDSmatch Michigan pre-markets to buyers who have previously signed up on www.ddsmatch.com. Prior to using DDSmatch, Dr. Kabot had worked with multiple candidates to purchase his successful orthodontic practice, all fell through. At DDSmatch, we know how difficult it can be to navigate the sale process alone. In the months leading up to the sale, Dr. Kabot experienced some personal health issues that escalated his urgency to sell, but within days we had a signed LOI, and closed less than 30 days later! We are thankful for another seller trusting DDSmatch through the process of their practice transition!
A note from Dr. Kabot…
“After 2 unsuccessful attempts I knew I needed to work with a professional that knows the transition business. After doing some research and talking to mutual acquaintances, I met with Cameron Elrod from DDSmatch.
We instantly had a common bond and friendship. Cameron is easy to talk too, easy to ask questions to and his vast knowledge of this transition process was way beyond what I was thinking. There was no pressure! I even had another possible associate that I had been in discussions with, and Cameron was willing to work with that possible candidate. In the final moments, this possible associate changed his mind about joining the practice.
This did not slow down Cameron, with in a day, he was utilizing his connections and getting our practice information out to the market. In 4 days, we received a letter of intent, to purchase our orthodontic practice for 60% more than the acquisition cash value! Incredible! Beyond this, we were able to complete the total asset sale of this practice in a 6-week window.
The professionalism of both Cameron and Jamie was beyond. Their connections and knowledge of the transition process are priceless. Cameron and Jamie were super great to work with, everything was transparent and on the table. Their fees were very fair and discussed up front. I personally would highly recommended Cameron and Jamie from DDSmatch for your future practice transition.”
About Matt LaMaster, FIRM FOUNDER & PRINCIPAL ATTORNEY at LaMaster Law
LaMaster Law is a full-service law firm, specializing in working with dentists and veterinarians regarding real estate transactions, employment law matters, regulatory compliance, and other legal matters. LaMaster Law gladly serves clients throughout Michigan, Wisconsin, and Florida. To get in touch with Matt, visit https://lamasterlaw.com/team/matt-lamaster/
About Live Oak Bank
Live Oak is a digital, cloud-based bank serving small business owners in all 50 states. They are the #1 SBA 7(a) lender by dollar volume* in the country and their mission is to be America’s small business bank. They aim to fulfill that mission through banking products that help business owners buy, build and expand, along with FDIC-insured high-yield savings and CDs to grow their hard-earned money. To learn more about dental practice loans and financing, visit https://www.liveoakbank.com
About Blue & Co.
Blue & Co., LLC is an independent accounting and advisory firm with more than 400 people in 10 offices across Indiana, Ohio, and Kentucky. They specialize in finding ways to help you achieve personal, financial, and life goals. When working with DDSmatch, your practice will be analyzed by Blue & Co. Certified Valuation Analysts with dental industry expertise. This analysis leads the financial process for all parties. To learn more, visit https://www.blueandco.com