The ZMD Group M&A Playbook: How a Physician-Led Acquisition Actually Runs
The ZMD Group acquisition process moves through five stages: initial confidential conversation (Weeks 0-2), indicative valuation in writing (Weeks 2-4), NDA-protected reciprocal diligence (Weeks 4-10), definitive structure and SPA (Weeks 10-16), and a documented 100-day integration plan (post-close). Most processes close in four to six months.
The first thing a physician selling a practice deserves is a transparent process. The ZMD Group M&A playbook is built around five stages that are deliberately documented rather than improvised. Stage 1 (Weeks 0-2) is a confidential conversation between the practice owner and Marques Kernan. There is no broker, no auction, and no obligation. Stage 2 (Weeks 2-4) produces a written indicative valuation framework anchored to a transparent multiple range, plus a high-level structure proposal.
Stage 3 (Weeks 4-10) is reciprocal diligence — buyer-side diligence on the practice runs in parallel with seller-side diligence on ZMD Group, and we publish the platform's clinical governance and integration playbook as part of our seller-readable package. Stage 4 (Weeks 10-16) closes definitive structure and the SPA. Stage 5 (post-close) is a documented 100-day integration plan covering operational integration, brand integration, and clinical-team continuity. The goal is that the patient experience does not change on Day 1 — and visibly improves by Day 100.
Written for ZMD Group Editorial. Inquiries: [email protected].