Selling and Transitioning My Eye Care Practice Privately
Following the traditional legacy model in practice exit.
Dr. Ron Meeker followed a “different” path – which is actually a more traditional path. He sold his legacy practice to a junior partner. Dr. Jens explores the ins and outs of successful practice transition in private sale during this revealing interview.
As we scheduled this conversation, Dr. Meeker was actually just a few weeks from full retirement from practice. His wife had already moved to their new retirement home in Florida, and the doctor was working just 1 day a week for the last month of his tenure at Vestal Eye Care in upstate New York. It seemed like the perfect time to ask about how this process has been going for him.
Dr. Meeker actually came into his practice in the same way, as a junior partner 35 years ago. He remembers some of the particular challenges that his predecessor encountered, and determined to plan in advance to avoid them when it was time for him to make that change. He was happy to share his experiences from both sides of the private transition relationship.
As many practitioners may also be, Dr. Meeker was committed to maintaining the legacy of his eye care business, which has been part of the community for many decades. He gave some very frank answers to Dr. Jens about the reasons he chose to preserve that legacy for the future, and what his hopes are for the practice, even as he prepares to leave it.
Planning Your Exit Strategy Video Series (Part 5)
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