Lifecycle of a Practice

October 8, 2018

John P. Brandt Jr., O.D. and his wife Karen, Practice Administrator, of Brandt Eyecare were embarking on an emotional journey to continue their 68-year-old practice in Lock Haven, Pennsylvania. John’s father, had opened the practice in this rural area when he first began his ophthalmology career and the last thing that the couple wanted to have to do was close this legacy practice. Neither of them were interested in having an ownership role overseeing staff and administration anymore so, they set their sights on a consulting group to help with transitioning the practice over to new folks, as then the two of them could solely do what they love…practice optometry.

In the mid 1990’s, the Williams Group had helped integrate Dr. Brandt Sr.’s ophthalmology practice with Dr. Brandt Jr.’s optometric practice and the changing trends in both specialties. When the time came to begin the natural transition toward retirement the Brandts turned to the Williams Group again for guidance after such a successful consulting experience. They were confident in this partnership once again. After a very emotional roller coaster with the expected ups and downs of selling a company that had been in their family for so long. The Brandts were able to sell their rural practice with the help of the Williams Group Transitions team.

“Transitioning our practice has been a daunting endeavor; however, the outcome is far better than our expectations. Williams Group provided us with excellent advice and tools to move this process forward. We are grateful not only for the professional guidance but also for the friendship that has developed throughout this process”, they noted.

Thomas Breen, Vice President of Practice Transitions, says it perfectly, “Negotiating the practice is the hardest part of any selling. It is both an art and a science. There is a lot of math involved; wrangling of numbers. Then the art of what both the buyer and the seller want comes into play. It takes time and patience.”

Karen states, “They helped us attain the goal of keeping our doors open and we are very grateful that the entity to do so is someone whom we respect and admire.”

The Brandt Eyecare practice was purchased by Nittany Eye Associates and will now be run under Dr. Michael Talone, Dr. Michael Cymbor and Tim Grattan. Nittany already has four other practices across the nation.

Learn more about our Transition programs.

Tom Breen

Vice President of Practice Transitions
Email Tom

 

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