Results
What has TriStar actually gotten for owners?
Two outcomes TriStar points to: an owner who lost two doctors at the start of the pandemic and, after two years of rebuilding the practice together, reached the number he needed to retire; and an owner who came to market wanting $6.5 million and closed at $9 million with a $2 million earnout after waiting ninety days on the analyst's advice.
What are some real-life success stories?
We have a lot of them, but two come to mind. I had a client who signed with us right before COVID, literally two weeks before the shutdown. During COVID, he lost two of his doctors. It had a big impact on the practice. It was a really hard time for him. We worked with him for two years, helping him add two more doctors and continue to grow the practice. We helped him improve his margins and everything else along the way. At the end of the day, we were able to get him the number he wanted to retire, which was a great result because he's just a really good guy.
The other one that comes to mind is a client who came to us and said, "I want to sell my practice. I want $6.5 million for it." He knew his numbers inside and out. He said, "I want to sell it within six months for $6.5 million." I said, "Fine." Once we gathered all the data, our analyst looked at everything and came to me, saying, "Sean, we need to get this doctor to wait 90 days." I asked, "Why?" He said, "Just look at his trailing 12 months; he's growing like crazy. If he can replace three months ago with these next three months, we can really improve upon the number." I'm happy to say that when we finally closed the deal, he got $9 million for the practice with a $2 million earnout.
From the buyers we work with
"Working with the TriStar team was a great experience from start to finish. The process was defined by a very professional presentation to go to market, and they were consistently efficient and timely with both questions and responses. What truly stood out was their commitment to helping the seller find the 'right partner' to fit the exit strategy. They are experts at providing creative solutions that help both the seller and buyer come together. My confidence in TriStar is absolute because I trust they are always working to achieve a 'win-win situation' for all parties involved. I highly recommend them."
"I have worked with TriStar for many years on different opportunities throughout the country. They've been very easy to work with on every opportunity. They were very quick and efficient with any information that I requested or needed throughout all of the deals. TriStar and their team were hands on throughout the process, which makes it helpful for not only us as the buyer, but also for the clients they represent, especially in the negotiation process. Their knowledge of the industry is obvious when we're going back and forth with each section of the LOI. I work directly with many groups, and TriStar stands out."
Curious what it's worth?
An indicative range on your practice in about two minutes. Nothing reaches your team, and whether we ever speak is a box you tick.