OUR PROCESS SETS US APART
OUR PARTNERING PROCESS
HERE'S WHAT YOU CAN EXPECT
If the first words out of someone’s mouth were “let me see your financial statement” what are the chances that it was ever going to be a meaningful relationship, at least for you? Zero.
Yet that’s exactly where nearly everyone “acquiring” ASCs starts. They view doing a deal with you as a purely financial transaction. Big mistake. One we don’t make and one that we urge you not to make. Just talk to someone who sold to a purely financial buyer who then ran their ASC as if it were a widget factory, and who took away all of the fun of doing cases there.
But at American ASC Partners, we’re not simply “acquiring”, we’re partnering.
1. WE GET TO KNOW YOU. YOU GET TO KNOW US.
We start the process from an interpersonal perspective. We get to know the physician owners. Are you people we’d like to work with? And, would you like to work with us?
After all, if we partner with one another, you’re going to remain as a highly valued physician-owner. We’ll be working together closely to build on your already successful business.
2. UP FRONT PROTECTION
After we know that we’d be comfortable working with one another, we’ll present a mutual nondisclosure agreement, often referred to as an “NDA”. We each enter into it to protect the confidential information that we share with one another.
3. HIGH-LEVEL VETTING
Once we’re bound by the NDA, we’ll conduct an initial review of some of your facility’s data. For example, we’ll look at financial statements and tax returns as well as various organizational documents to understand your
entity’s structure.
4. LETTER OF INTENT
If we decide to move forward after high-level vetting, we will present you with a Letter of Intent, often called an “LOI”, or a similar document setting out the basic terms of our arrangement. It’s the first step in moving toward the preparation of purchase agreement documents. Although most of its terms are not binding, some are, such as an exclusivity period during which you agree to work exclusively with us until the deal closes or terminates.
5. FORMAL DUE DILLIGENCE
Once the LOI is signed, we, together with our professionals, will conduct an in-depth investigation and review of your ASC and its business, from
financial, to structure, to compliance, and beyond.
After all, if we partner with one another, you’re going to remain as a highly valued physician-owner. We’ll be working together closely to build on your already successful business.
6. FORMAL AGREEMENTS
Our attorneys will prepare the various formal agreements in connection with finalizing the arrangement. We’ll present them to you so that your attorneys and other advisors can review them. For example, there will be a purchase agreement, promissory note, various types of assignments, a management agreement, and, commonly, amendments to, or a new, operating agreement or partnership agreement.
7. STARTING (WHAT OTHERS CALL "CLOSING")
Yes, our attorneys may insist that the formal agreement call it a “closing”, but by partnering with you we are entering into a relationship that is just starting. Although the entire process is never as speedy as one hopes, we’ll do our best to minimize delays and count on you to do the same. As soon as the ink is dry, we’ll start moving forward together.
we invest in ascs aCROSS THE u.s.
We invest in and bring highly experienced management to right-fit facilities.