When it comes to taking business to the next level, buying a company is often an excellent growth strategy. In Fort Lauderdale and throughout Florida, acquiring a new business can lead to tremendous expansion. However, companies considering acquisitions should make sure they take a close look at how the deal could impact their firm and plan ahead. By preparing for the acquisition properly, those involved could enjoy a smoother transaction and avoid stressful mistakes.
A national medical group headquartered in Fort Lauderdale recently announced that they will be acquiring a company which specializes in pediatric physician services. The Florida firm did not reveal how much the cash transaction will be worth, although the deal is anticipated to close later in the year.
The Ohio-based company that will be acquired was launched in 1980 and also operates offices in Illinois, California, Washington and Michigan. From 2007 to present, the company has had a compound annual growth rate of over 25 percent and currently has a roughly $65 million run rate.
Whether an acquisition is friendly or hostile, there are a variety of legal considerations that must be taken into account before a company moves forward with any transaction. Although people's daily schedules can be hectic, it is important to meet with business partners and cover every base to increase the likelihood of a successful outcome. On top of thoroughly reviewing the ins and outs of the deal, many companies turn to an experienced attorney to ensure that they address any legal issues which may arise properly.
Source: CrainsCleveland.com, "MedData Inc. of Brecksville is sold to a publicly traded Florida company," Scott Suttell, Aug. 19, 2014