Introduction

You’ve made it to the finish line—almost. Closing day is when the deal becomes real, and the final documents are signed, sealed, and delivered. But before the wire hits your bank account, there’s one more critical step: reviewing and executing the legal agreements that formalize the sale. This section walks you through the key documents you'll encounter—from the Asset Purchase Agreement to new operating and continuity agreements—and outlines the transition planning needed to ensure a smooth handoff. Getting these final details right helps avoid last-minute surprises and protects your interests after the ink dries.

Purchase Agreement and Closing Documents

You’ve made it to the finish line—almost. Closing day is when the deal becomes real, and the final documents are signed, sealed, and delivered. But before the wire hits your bank account, there’s one more critical step: reviewing and executing the legal agreements that formalize the sale. This section walks you through the key documents you'll encounter—from the Asset Purchase Agreement to new operating and continuity agreements—and outlines the transition planning needed to ensure a smooth handoff. Getting these final details right helps avoid last-minute surprises and protects your interests after the ink dries.

• Asset Purchase Agreement - This document outlines what exactly is being purchased, what is not being purchased, the price, how you will be paid, and who the parties in the transaction are
• Lease Documents - These sets of documents can vary and show how the new rental agreement for space will work between the buyer, seller, and landlord
• Continuity Agreements - This document will describe what responsibilities post transaction.
• New Operating Agreements - In the event that the selling doctor will be part of a new entity post transaction, this document shows exactly what rights and responsibilities each party has in that new entity.

Transition Plans and Staff Communication

It would be good to pre-emptively lay out a clear transition plan when performing any type of transition. A good transition plan includes timelines that the selling doctor will stay on board, and what the roles and responsibilities are between the selling and buying doctors. It will include a clinical schedule for the transition period and also identify key processes that will need handoff between the buyer and seller. This isn’t limited to processes within the office, but also support processes as well such as accounting, credentialing, and bank account transfer.

Post-Sale Transition and Support

The sale doesn’t end at the closing table—most deals include a post-sale transition period where the seller stays on to support the new owner. This phase helps maintain continuity in patient care, team leadership, and practice culture. Whether it’s a few weeks or several months, your involvement during this time is key to ensuring a smooth handoff and preserving the value you’ve built.

Seller Transition Period

A well-planned seller transition period is one of the most powerful tools you have to maximize deal value and minimize post-sale fallout. Transitions can be as short as 3-4 months in a private sale and as long as 5 years in a DSO transaction. Buyers are often willing to pay more—and on better terms—if they know you’ll remain available to help maintain momentum after closing. During this time, your role is to transfer knowledge, introduce key contacts, and ensure operational continuity. Treat this as a professional runway: gradually shift leadership while staying present as a steady hand. A clear, structured plan—aligned with your personal goals and the buyer’s needs—can create a win-win and protect the legacy you’ve worked so hard to build.

Managing Patient and Team Retention

Patient and team retention is the hidden currency of a successful practice transition. Lose too many, and the buyer may face early turbulence—or worse, financial losses. As the seller, your leadership during this period is crucial. A proactive communication plan can reassure patients about continuity of care and reinforce your endorsement of the new owner. Internally, empowering your team with timely, transparent updates and involving them in the handoff process builds trust and reduces uncertainty. Investing in this emotional and relational capital ensures your practice doesn’t just sell—it thrives after the sale.

Conclusion

A successful closing isn’t just about collecting a check—it’s about wrapping up loose ends, executing a well-defined transition, and handing off your practice with confidence. With the right legal agreements in place, a thoughtful transition plan, and a clear communication strategy for patients and staff, you position both yourself and the buyer for success. The finish line may be in sight, but the way you handle this final stretch is what determines whether your exit is merely transactional—or truly transformational.