Volume 3 Issue 5, March 1, 2016
With over 50 combined years in the healthcare marketplace, we have seen many successes and some initial failures when representing healthcare owners who could not sell their businesses. In these latter examples, they learned a hard lesson and, fortunately in some cases, were able to eventually transact.
Here are seven reasons why they encountered failure the first time around:
The great basketball coach, John Wooden, once wrote that “failure isn’t fatal, but failure to change might be.” In the situations described above, we have seen numerous owners honestly assess their circumstances, re-engage with their companies and, after some time, successfully close a transaction. The necessary “change” that Coach Wooden spoke of was always apparent. The difference was the courage and discipline applied in the face of an original disappointment.
For over 20 years, Brad has held a number of significant executive positions including founding Lone Star Scooters, which offered medical equipment and franchise opportunities across the country, Lone Star Bio Medical, a diversified DME, pharmacy, health IT, and home health care company, and BMS Consulting, where he has provided strategic analysis and M+A intermediary services to executives in the healthcare industry. In addition, he is a regular columnist for HomeCare magazine and HME News, where he focuses on healthcare marketplace trends and innovative business strategies for the principals of healthcare companies. At VERTESS, Brad is a Managing Director and Partner with considerable expertise in HME/DME, home health care, hospice, pharmacy, medical devices, health IT, and related healthcare verticals in the US and internationally.