Business “Divorces” for Healthcare Professionals

Business “Divorces” for Healthcare Professionals

 

Who?

1) Multi-owner healthcare business has one, or more, individuals that want to exit in either a friendly or hostile manner. We call this a “Business Divorce” in the industry.
 
2) Healthcare professional is experiencing a personal family divorce and spouse is threatening ownership in a healthcare-licensed company. Your professional goodwill that built the business is being under or overvalued without proper legal protections or defense.

 

Why?

Minnesota has complicated rules regarding who can own, and not own, an entity that provides services in professionally licensed healthcare categories. Failure to abide by these rules can result in fines, a gross misdemeanor, professional disciplinary actions or worse. The good news is that the restrictions may work in your favor since professional services are tied to a healthcare license that you worked hard to build and cultivate. Not all family attorneys and business attorneys are familiar with working with healthcare professionals and the Corporate Practice of Medicine Doctrine, Professional Firms Act and respective healthcare licensing board rules. This is often why OTHER attorneys engage Holt Law to come in as the limited scope counsel in their transactions and we are usually more than happy to help.

 

What?

Pricing – Depends on whether we are “friendly” or “hostile”. Pricing defaults to $7500 or 5% of sale value (friendly transactions only) or hourly rate of $1000 per hour if only engaged in limited scope.
 
Holt Law will serve as legal co-counsel or full representative legal counsel for the separation of your business that has ownership in a healthcare business (MD/NP/PA/DO/RN/LMFT/LPCC/LICSW/LP). We will advocate for the healthcare professional to capture as much ownership/value from the transaction as legally available.
 
*All traditional family law transactions require clients to engage a family law attorney – for which multiple referrals are available if needed.
 

 

When/Timeline?

Onboarding is within a couple business days of free initial consultation. Package is generally complete within 2 months for friendly, non-complicated transactions, and lingering legal questions are covered beyond that timeline. Email for expedited timeline consideration.

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