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Mar 2017 1 Minute

Due Diligence – A checklist from Anne Hurley, HHG Legal Group

As part of our collaborative series ‘Avoiding pitfalls & maximising opportunity when expanding your medical practice’, we have talked about how important it is when buying a medical practice to do your due diligence.

Due diligence can be defined as “the study that ought to be taken” and involves the process of extensively investigating and substantiating all information provided by the seller with the aim of becoming deeply informed and better placed to judge commercial risk.

We recommend you look at the business's operations, financial performance, legal and tax compliance, customer and supplier contracts, intellectual property, assets and other details. We can assist in defining the scope of your investigations.

The information you collect during due diligence is highly sensitive and confidential. The seller might want you to sign a non-disclosure agreement before you access this information.

HHG Legal Group have developed a checklist that contains potential questions you need to ask when investigating the business of a medical practice you are considering buying.

To read more about due diligence click here and download the checklist.