Company Sale and Divestiture

With our exclusive focus on the healthcare and life science industries, decades of M&A advisory experience, numerous completed transactions, and an extensive global healthcare network, ConAlliance has developed unparalleled and award-winning expertise in successfully executing company transactions.

This expertise is at your disposal. Absolute discretion is paramount throughout the M&A process. For more information about our approach to business sales, we invite you to contact us directly.

Advising Private Owners or Shareholders

A successful M&A transaction in the healthcare sector demands far more than merely identifying a buyer. The sale of a company is a singular, often emotionally charged event for the seller, impacting both financial outcomes and the preservation of entrepreneurial and intangible values - a true life's work. Thus, the objective is not solely to achieve the highest possible sale price, but to secure the optimal combination of valuation, payment terms, transaction structure, cultural alignment, assurances, guarantees, and risk mitigation.

The sales process inevitably presents considerable challenges for company owners and entails a substantial workload. A poorly structured approach increases the risk of costly errors. Therefore, meticulous preparation and execution under the guidance of an experienced M&A advisory firm are essential.

ConAlliance M&A advisors bring a decisive advantage: deep sector expertise, assertiveness, rapid execution, and the ability to deliver superior outcomes even under high-pressure conditions. We strategically reduce the burden on company owners, ensuring a seamless transaction process while maximizing value and safeguarding entrepreneurial legacy.

Discover more in our article "Exit Preparation in the Healthcare Sector: The Strategic Service for the Optimal Company Sale," and learn how best to prepare for a successful exit:

Exit Preparation

Advising Financial Investors / Private Equity

ConAlliance also advises private equity (PE) firms on the divestiture of portfolio companies, provided the transaction involves a healthcare asset.

While there are numerous parallels to advising private shareholders, distinct differences must be acknowledged. PE firms are professional investors with a clear mandate: to generate value over a defined holding period. Accordingly, early definition of the exit strategy - whether via strategic sale, IPO, or secondary buyout - is paramount. The entire transaction process must be rigorously aligned with this strategy.

Process design must be tailored to the specific objectives of the PE sponsor. This encompasses the selection of an optimal transaction structure (e.g., asset deal versus share deal), the development of an efficient financing model, and comprehensive tax and legal structuring to maximize exit value and future cash flows.

Timing is a critical lever. PE firms must vigilantly monitor market dynamics, sector-specific trends, and broader macroeconomic indicators to calibrate the sales process and maximize valuation outcomes. Equally, key deal terms - including guarantees, representations, and contractual protections - must be precisely defined from the outset.

A disciplined, strategic negotiation approach is essential to optimize not just valuation, but also payment terms and other critical contractual elements.

Throughout the process, open and transparent communication with all stakeholders - internal decision-makers, external advisors, and potential acquirers - is indispensable. Given the frequent use of leverage in PE-backed companies, risk management becomes a decisive success factor. Proactively disclosing and managing identified risks can mitigate potential transaction friction, ensuring a more efficient and ultimately successful closing.

In paralell we analyze potential buyers who have a strategic interest in the acquisition or who can leverage synergies through it. This includes considering financial investors and private equity investors. It is crucial to ensure in advance that these interested parties will continue and develop the company in alignment with the seller's intentions.

The subsequent steps are determined by the chosen sales strategy and the sales process or procedure. For instance, we differentiate between exclusive negotiations with a single potential buyer, targeted negotiations with a limited number of potential buyers, or a controlled auction.

Following this, we conduct a highly targeted and confidential approach to potential buyers, initially withholding the names of the company and the sellers. Relevant information is only exchanged after the signing of a confidentiality agreement.

During the pre-contractual negotiation phase, we establish the data room, assist with the buyer-side due diligence, and analyze incoming offers using a dedicated scoring model for offer evaluation. The contractual negotiation phase involves coordinating the entire negotiation process, managing renegotiations, creating the memorandum of understanding (MOU), and coordinating with lawyers and advisors, culminating in the final contract signing.

A multitude of components is necessary to establish the required transparency, enhance our client's negotiating position, convince the buyer, and successfully complete the transaction in our client's best interest.

Specifics of the Sale of Healthcare Companies

A few aspects of healthcare transactions are briefly mentioned here as examples:

Regulations, approvals and patents: Manufacturers of medical products, pharmaceutical companies and healthcare services providers are sometimes subject to strict regulatory requirements, licenses and laws (e.g. Therapeutic Products Advertising Act, data protection in the healthcare sector, professional law for doctors, market access requirements). Patents are also value-forming specifics that need to be considered and evaluated.

Market and competition: Market mechanisms and developments as well as competitive dynamics are specific value drivers whose knowledge and evaluation require a great deal of intuition and access to current (non-public) information.

Material contracts: In the healthcare sector, revenue streams often depend on contracts with health insurance companies or insurers - but also with customers and suppliers. The existence and duration of these contracts are decisive factors for the value of the company.

Staff & specialists: Specialist staff such as doctors, nurses or specialists are often a decisive factor for the company's value. Measures for long-term employee retention are therefore important.

Technological factors & digitalization: Many healthcare companies rely on innovative technologies (Medical informatics, telemedicine, AI-supported diagnoses, digital patient records). These aspects influence the valuation and the interest of buyers.

Reputation & trust: Patient and customer satisfaction, brand awareness and public perception are key factors in the evaluation.

ConAlliance Service Portfolio

ConAlliance's sell-side advisory services include:

Executing the sales process prudently and confidentially
Developing tailored exit strategies
Preparing for the sale and conducting seller due diligence
Creating comprehensive sales documentation, including teasers, pitch books, and information memoranda
Identifying, approaching, and evaluating potential buyers (strategic and financial)
Managing competitive bidding processes to enhance deal value
Overseeing buyer communications and negotiations
Structuring transactions and developing financing plans
Optimizing purchase price and contractual terms, including liabilities and indemnities
Facilitating signing, closing, and post-transaction support

Are you interested in selling a healthcare company?

ConAlliance is the expert in healthcare mergers and acquisitions.

Do you plan to sell your medical device company?

We are a longstanding leader in advising on the “sell side” of healthcare M&A transactions.

in case of divestiture life science company ConAlliance Investment Banking is the recommended advisor.

Three general forms can be used for the acquisition of a business: (1) a purchase
of the assets of the business, (2) a purchase of the stock of the target
owning the assets, and (3) a statutory merger of the buyer (or an affiliate) with
the target. It is possible to combine several forms so that, for example, some
assets of the business are purchased separately from the stock of the company
that owns the rest of the assets, and a merger occurs immediately thereafter.

company sales Pharmaceuticals and drugs

With a proven track record of life science transaction services, on the buy-side and sell-side, ConAlliance has served the European healthcare industry as a specialized investment banking and consulting firm. With outstanding healthcare M&A experience, we are engaged by public and private organizations to sell or divest a business or product line or to conduct comprehensive acquisition searches to help our clients grow by a corporate M&A transaction.

Transaction services, medical devices, m&a, germany

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Linde AG a German supplier of industrial gas, said Sunday it plans to acquire Lincare Holdings Inc., a U.S. provider of respiratory therapy, oxygen and other services to patients at home, for about $4.6 billion. Industrial-gas suppliers have been expanding into the growing business of providing services and equipment such as ventilators or oxygen tanks to people with asthma and other diseases who are managing their conditions at home. Lincare, based in Clearwater, Fla., has more than 800,000 customers in 48 states and Canada, according to its website. In a statement, Munich-based Linde said it had submitted a cash offer of $41.50 per common share to acquire Lincare.

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In mergers & Acquisitions and (commercial) due diligence services we deliver outstanding impact on the reputation and success of our clients, in the UK and globally. In pursuing this we contribute to a sustainable and prosperous society.

ConAlliance assits you, when you plan to

divestiture healthcare company,
divestiture medical device company, or
acquire healthcare company

Advisory Services for
Company Sale and Divestiture

Advising Private Owners or Shareholders

Advising Financial Investors / Private Equity

Further reading:

The approach to company sales