Healthcare Sectors
Selling Your
Healthcare Business?
We can help, in whatever corner of healthcare you work.
Merritt Healthcare Advisors works exclusively in healthcare. Whether you own a surgery center, a physician practice, a behavioral health practice, a health technology company, a pharmaceutical business, or a healthcare services firm, we help owners and investors find the right buyer or partner and run a process built around what they want from the outcome.
Sectors We Serve
What Buyers Look For, Sector by Sector.
Buyers in healthcare don’t all underwrite the same way. Here’s what they tend to focus on in each sector we work in.
Surgery Centers
Surgery center and surgical hospital value turns on payer mix, case and specialty mix, and physician alignment, and the ownership structure shapes the deal.
Explore our surgery center advisory →
Payer mix and in-network status, case mix, staffing and supply costs, and physician alignment.
Physician Practices
Orthopedics, podiatry, cardiology, gastroenterology, and other physician groups are underwritten on recruiting depth and payer stability.
Explore our physician practices work →
Physician recruiting and retention, payer mix, corporate-practice-of-medicine structuring, and a repeatable clinical model.
Behavioral Health
ABA therapy, outpatient mental health, addiction treatment, and intensive programs each draw different buyers, and the sub-sector shapes the conversation.
Explore our behavioral health work →
Clinical staffing and retention, payer mix, licensure and regulatory complexity, and standardization across sites.
Healthcare Technology and Tech-Enabled Services
Health technology, revenue cycle, and billing businesses are valued less like providers and more like software and services companies, with healthcare regulation and payer and provider customer relationships layered on top.
Revenue quality and recurrence, customer concentration and retention, how deeply the product sits in client workflows, and data privacy and regulatory exposure.
Pharmaceutical
Pharmaceutical businesses sit between healthcare services and life sciences, so regulatory standing and supply continuity tend to come up before growth does.
Licensing and regulatory standing, product and customer concentration, supply chain resilience, and reimbursement exposure.
Healthcare Services
Provider-adjacent and ancillary service businesses, such as urgent care, workers’ compensation and personal injury care, and clinical networks, are underwritten on how durable their referral and payer relationships are.
Referral source concentration, payer mix, workforce stability, and compliance history.
How We Work
What You Can Count On.
The buyers and the diligence questions differ from one sector to the next. The approach behind every engagement stays consistent.
Healthcare only
Every engagement is in healthcare, so buyer relationships, payer dynamics, and regulatory context carry from one sector to the next.
The full range of transactions
Sell-side M&A, capital raises, and debt advisory, matched to what the owner is actually trying to accomplish.
A competitive, confidential process
Credible buyers are brought into a managed process, and the decision to sell isn’t broadcast before the owner chooses to share it.
The Process
How a Sale Unfolds.
Confidential Marketing
The business goes to market quietly, without word reaching customers, employees, or competitors before the owner is ready.
The CIM
A confidential information memorandum presents the business to buyers: what it does, how it earns, and why it is positioned to grow.
Buyer Outreach & Screening
Strategic and financial buyers with a real fit are invited into a competitive process.
IOIs & LOI
Early offers are compared on price and terms, and the owner chooses which buyer moves forward to a letter of intent.
Diligence & Closing
Confirmatory diligence, definitive agreements, and any regulatory or licensing steps are managed through to close, with terms negotiated alongside price.
Timeline: a sale process consistently runs nine months to over a year in length, from engagement through closing. Where a deal lands in that range depends on the complexity of the business and any regulatory review, so starting the conversation early is imperative.
Frequently Asked Questions
Questions About Fit.
Is Merritt a generalist firm?
No. Merritt works only in healthcare, across ambulatory surgery centers, physician practices, behavioral health, health technology, pharmaceutical, and healthcare services. If you’re unsure where your business fits, a short conversation is the fastest way to find out.
Does it matter if my advisor isn’t a specialist in my sector?
It matters how well they know who buys businesses like yours, what those buyers underwrite, and how to run a competitive process among them. That’s worth asking any advisor directly, including us.
How are health technology businesses valued compared with provider businesses?
Buyers generally put more weight on recurring revenue, customer retention, and growth, and less on the physical footprint and clinician capacity they examine in provider businesses, while still scrutinizing regulatory and data privacy exposure. Ranges vary widely by business model, so there isn’t a single number worth quoting.
How long does it take to sell a healthcare business?
Consistently nine months to over a year, from engagement to close. Regulatory review and the complexity of the business affect where a deal falls in that range, so starting the conversation early is imperative.
Why work with a healthcare-only advisor?
Healthcare buyers weigh things other industries rarely do, such as payer and reimbursement exposure, regulatory standing, and workforce dynamics. An advisor who works only in healthcare already knows those conversations and the buyers who have them.
Start a Conversation
Ready to Talk About Your Business?
Exploring a sale, a capital raise, or simply what your business is worth today? Tell us what you’re building and we’ll talk through your options in confidence.
