Behavioral Health Practice Sold – March 22, 2019 – Severna Park, MDBusiness Selling Selling a business Small Business
Posted by Justin W. Sandridge, Business Broker on
Business Sold March 22, 2019: Bay Area Behavioral Health
We were referred to the owner of Bay Area Behavioral Health, John Driscoll, by his accountant, Allen Alperstein, in August 2018. We conducted a valuation on the business and was able to quickly get the business on the market. After just 3 days of being on the market, we had several offers in hand.
During the due diligence process, John had some unexpected changes in the business that caused for more negotiations, extended due-diligence and delayed closing several months. This was frustrating for everyone, but John kept his eye on retiring soon.
The buyer was Refresh Mental Health (www.RefreshMH.com). They were in strong acquisition mode and had recently acquired other Mental Health practices in the Baltimore-Annapolis area. This business was a perfect fit for them to roll up into their other local operations. They ultimately combined this company with Carroll Counseling Centers.
I took John to lunch after we signed the paperwork. He is excited to start traveling with his wife who is a marine pathologist. She is fortunate enough to travel for business frequently and now John will be tagging along with her on her business trips. Congratulations John! We wish you the best and enjoy retirement on the Eastern Shore!
Justin Sandridge, Business Broker
Murphy Business Sales – Baltimore
100 West Road, Suite 300
Towson, Maryland 21220