The market for Oklahoma Urgent Care practices is more active than ever. National growth and local acquisitions have created a clear window of opportunity for owners considering an exit. Selling your practice is a major financial and personal decision. Navigating the process to achieve a peak valuation requires a clear understanding of market dynamics, buyer expectations, and your own goals. This guide provides the insights you need to get started.
Market Overview
The decision to sell doesn’t happen in a vacuum. It is important to understand the market you are operating in. Right now, the urgent care sector is experiencing remarkable growth.
A Booming National Trend
Nationally, the number of urgent care centers nearly doubled between 2014 and 2023. This growth is driven by patient demand for convenience and affordability, attracting significant investment from both health systems and private equity groups. This is not a short-term spike. Projections show the market continuing to expand, creating a favorable environment for practice owners who are prepared to sell.
Oklahoma’s Growing Footprint
This national energy is clearly visible here in Oklahoma. The arrival of new, well-capitalized players like QuikTrip’s MedWise Urgent Care, which rapidly opened multiple clinics, proves the strong local demand. This activity shows that Oklahoma is a strategic target for buyers, which is great news for owners thinking about their next steps.
Key Considerations
A strong market is a great start, but a successful sale depends on the health of your individual practice. Before you even think about putting your practice on the market, sophisticated buyers will want to see a clear picture of your business. This means having several years of clean financial statements, a firm grasp of your patient volume and payer mix, and an organized back-office. They will look at everything from your key staff and their employment contracts to the efficiency of your EHR system. Preparing this information in advance is not just about passing due diligence. It is about telling a story that justifies a premium valuation.
Market Activity
The interest in Oklahoma urgent care is not just theoretical. Major transactions are already happening, signaling a prime seller’s market. Two recent examples highlight the types of buyers active right now:
-
Strategic Health System Acquisitions. In a significant local deal, Ardent Health acquired 12 Oklahoma urgent care clinics from NextCare to integrate into its Hillcrest HealthCare System. This shows that established hospital systems are actively buying practices to expand their network and patient access points.
-
Private Equity Investment. The acquisition of Xpress Wellness by Goldman Sachs Alternatives demonstrates strong interest from large financial sponsors. Private equity firms are drawn to the sector’s profitability and are building regional and national platforms, often looking for well-run practices to serve as a foundation for growth.
The Sale Process
So, what does selling your practice actually look like? It is a structured process that moves through distinct phases. It begins with a comprehensive valuation and preparing a confidential information package that tells your practice27s story. Then, your advisor confidentially approaches a curated list of qualified strategic and financial buyers to create a competitive environment. After you select the right partner, you move into negotiation and legal documentation. The final, and often most intense, phase is due diligence, where the buyer verifies every aspect of your business. This is where many deals fall apart. With proper preparation and expert guidance, you can navigate this phase smoothly toward a successful closing.
How Your Practice Is Valued
One of the first questions owners ask is, “What is my practice worth?” While you may see simple revenue multiples online, sophisticated buyers value your practice based on its profitability. The key metric is Adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization). We start with your net income and add back owner-specific personal expenses and non-recurring costs to find the true cash flow of the business. This Adjusted EBITDA is then multiplied by a number that reflects your practice’s quality and risk. Here are a few factors that determine that multiple.
| Factor | Impact on Valuation Multiple |
|---|---|
| Provider Model | Higher for multi-provider, associate-driven clinics |
| Growth | Higher for a track record of increasing patient volume |
| Scale | Higher for practices with larger, more stable earnings |
| Payer Mix | Higher for a strong base of commercial insurance contracts |
Understanding these drivers is the first step toward maximizing your practice27s value.
Post-Sale Considerations
Closing the deal is not the finish line. How the sale is structured has lasting implications for your financial future, your staff, and your legacy in the community. Are you looking for a clean break, or would you prefer a strategic partnership where you roll over some of your equity and participate in future growth? Do you understand the risks of an earnout? Most importantly, the structure of the deal has major implications for your after-tax proceeds. Planning for these outcomes from the very beginning is the key to ensuring the transition protects what you have built and achieves your personal and financial goals.
Frequently Asked Questions
What is the current market trend for urgent care practices in Oklahoma?
The urgent care sector is experiencing remarkable growth nationally and in Oklahoma. The number of urgent care centers nearly doubled nationally from 2014 to 2023, driven by patient demand for convenience and affordability. Oklahoma is seeing strong local demand with new players like QuikTrip’s MedWise Urgent Care rapidly opening multiple clinics, making it a strategic target for buyers.
What key factors do buyers consider when valuing an urgent care practice in Oklahoma?
Buyers focus on the practice’s profitability measured by Adjusted EBITDA. Factors impacting valuation multiples include the provider model (higher for multi-provider clinics), growth trends (higher for increasing patient volume), scale of the practice (larger, stable earnings increase value), and payer mix (strong commercial insurance contracts boost valuation).
What should I prepare before putting my urgent care practice on the market?
You should have several years of clean financial statements, detailed data on patient volume and payer mix, and an organized back-office. Buyers will also review key staff employment contracts and the efficiency of your EHR system. Preparing this comprehensive information early helps justify a premium valuation and facilitates a smooth due diligence process.
Who are the typical buyers for urgent care practices in Oklahoma?
There are two main types of buyers: 1) Strategic buyers like hospital systems (e.g., Ardent Health acquiring clinics to expand network access) and 2) Financial buyers such as private equity firms (e.g., Goldman Sachs Alternatives investing in profitable practices to build regional and national platforms).
What happens after selling my urgent care practice in Oklahoma?
Post-sale, the deal structure affects your financial future, staff, and legacy. Options include a clean break or a strategic partnership where you retain some equity and participate in growth. It’s important to understand earnouts and tax implications to protect your financial interests and plan the transition in line with your personal and financial goals.