Healthcare business

This $100m revenue healthcare business had grown organically over many decades, but the Board and CEO knew that expansion into new states and territories and additional services was a strategic priority given changes in their market.

Successful acquisition

After it was established that business acquisition was the preferred route rather than organic growth, and never having purchased another business before, the client asked Pitcher Partners to assist

Having received an Information Memorandum from a suitable target, Pitcher Partners worked with the client to develop a strategy for making an initial offer. Given the strategic priority and the good fit of the target company, it was critical that the offer be substantial enough to ensure the client would be invited into the second stage of the sale process, yet allowed room for negotiation so that the client had flexibility on the final price and key terms.

The indicative offer was prepared by Pitcher Partners such that key assumptions were set out to be tested during the due diligence phase.  Discussions and correspondence with the vendors ensued, which ultimately secured the client exclusivity as preferred bidder and sole access to due diligence materials.

In addition to the M&A advice provided throughout this process, Pitcher Partners conducted the financial and commercial due diligence which allowed the client to test key assumptions and fully understand the business opportunity. This provided the basis for the final offer which was substantially adjusted and submitted by the client with confidence.

The successful acquisition of this business will provide the client with a foothold in new markets and providing new services through which it intends to leverage its existing business, thereby generating both growth and new business opportunities.

Pitcher Partners continues to look at other opportunities for the further expansion for this client.

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Rob Southwell

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Managing Partner and Partner – Private Business and Family Advisory

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Managing Partner - Private Business and Family Advisory

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