All Access Ortho
Company Transacted
AAO has an innovative business model, combining an orthopedic surgery practice with multiple orthopedic urgent care centers. By marrying a hard-to-schedule specialty orthopedist practice with walk-in treatment centers, the physician-owners leverage their time and reach using ortho-trained physician assistants. The group has a strong network, linking them to school nurses, primary care physicians, athletic coaches and other referral sources.
Strategic Buyer
AAO was acquired by a health care system (currently anonymized) looking to expand their orthopedic and urgent care capabilities.
WaveEdge Strategy
WaveEdge early on realized that value would be maximized if the acquirer could appreciate that the company was an integrated operation rather than two separate groups, which would have been valued at different multiples.
By working closely with management to develop a logical, credible forecast of the combined businesses, WaveEdge was able to demonstrate this novel operation and why it should be viewed as integrated.
From a large number of financial and strategic investors, WaveEdge identified those interested in the geographic area and the nature of the healthcare services business. WaveEdge worked with the owners to create a story that would help the acquirers to see the future growth opportunities.
WaveEdge ran the entire process from start to finish, including buyer deck development, modeling, story pitch, outreach, diligence coordination and negotiation.
Result
WaveEdge completed a transaction for majority sale of the company at a highly attractive multiple as well as rollover equity for earn out on growth and profit sharing for the owners
