Prestige Healthcare Group is a Management Service Organization that has been successful in helping our affiliates in the Northeast by providing foundational assistance in various forms. We are currently seeking new Home Care and Home Health Care partners and relationships in North Carolina, with owners who are hoping to create a better life than yesterday. This blog serves as a resource for Home Care and Home Health Care agency owners across the country, new and old, to better understand the industry and the options they may have.
Today’s blog focuses on a few questions that home care agency owners should consider when considering M/A or selling their business. Let’s take a look at 3 big questions to think about.
What is My Home Care Agency Worth?
An owner of a home health or home healthcare agency should never feel awkward about asking this question. This question helps set expectations for a range of what you and/or your company may transact, while also ensuring your perception of value is accurate.
Having just a few pieces of crucial information can provide us with enough insight to be able to provide an initial offer. Knowing your EBITDA and where you stand as an agency can provide a partner or buyer with insights into what the best next steps could be. Working with a M/A specialist at Prestige allows you the comfort to know we specialize in the home healthcare industry and have a proven track record of success in the M/A process for owners just like you.
Because we work with agencies in your industry, we are well aware of the average multiples seen in similar transactions, and we will be able to see very clearly how your company separates itself from your competition to increase that value.
What Will Happen to My Company After It Sells?
This is a crucial factor to many owners, especially those who may be longtime owners or a part of a family-owned agency. Despite the many trials and tribulations of owning a successful agency, there are downfalls and setbacks. Struggles with staffing, advancements in technology & telehealth, as well as issues handling billing and back billing are all challenging.
This is something we have seen firsthand. We understand how important the business is to you. That is why we work directly with you to help pursue a vision for success that aligns with your vision, whether that includes you staying on, or exiting completely.
Depending on your stance in life and your desires, your future could change, but in the event your agency partners with Prestige Healthcare Group, your company will maintain the same culture and integrity that you built, whether you stay on or not. Your wishes will be met.
How Much Effort Will It Take From Me?
Understanding that owning and operating a functioning agency takes a lot of time and energy, it could be intimidating to even consider the thought of selling or merging. It’s not lazy to desire to understand the level of effort it will require to go through a large-scale M/A process, and we will walk you through every step of the process. We understand the home care and home healthcare industry, so you can trust we have your best interest in mind with regard to running a successful agency.
Working with a management service organization that works directly with symmetrical businesses in your space allows you to know that the process will be smooth and streamlined at your pace, to your wishes.
Understanding the steps toward your ideal future can be troubling, but working with us allows you to fully understand the peaks and valleys of effort throughout the process. We will establish a flexible timeline that focuses on the optimum outcome for both you and your company.
No two agencies are the same, and whether you are in-home care or home health care, we are here to help. If you ever have any questions regarding the operation of your agency or are thinking about exiting your company, we can certainly help you understand the M/A process. Stay tuned to the blog for more tips on home healthcare M&A, tips for agency owners, and more! Remember to follow us on Linkedin!
Owners with any questions can speak directly with our team by visiting this link to get in touch!