The Business
A prosthetics clinic with more than five decades of history, designing, making and fitting prosthetic limbs in its own on-site lab. A steady flow of hospital referrals and a large base of returning patients gave buyers confidence in its future.
How We Sold It
A clinic like this is built on trust, so confidentiality came first. We documented the referral sources, the patient base and the day to day operations so that buyers could understand the business without anyone inside it being disrupted.
The listing drew more than 30 buyer inquiries, and our team also called clinics across Ontario to find the right owner. Every buyer signed a non-disclosure agreement before receiving any details. The owner chose a local clinician in a related field, a good fit for its patients and staff.
There was one hard problem. Only a licensed prosthetist can run a prosthetics clinic, the owner was a prosthetist planning to retire, and the buyer was not a prosthetist. Without someone to take over the clinical work, the clinic had little value to any buyer.
Prosthetists are scarce: one college program in Canada trains them, and it accepts only eight students a year. Randall went looking and found a student from that program who joined the clinic as a resident prosthetist. The retiring owner agreed to stay on part time to supervise and train the resident until he is fully licensed, and the clinic’s administrator and lab technician stayed on.
That staffing plan is what made the deal financeable. With it in place, the lender approved the buyer’s financing, and we kept the buyer, the seller and their advisors moving together through due diligence to closing.
The Result
The clinic continues to serve its patients under new ownership, with a new prosthetist in training and the experience of its retiring owner still in the building.
