Success Story: Audiology Associates of East Texas, Inc.
Preserving a 37-Year Legacy Amid Crisis—Full-Price Sale Secured in Just 7 Months
When longtime audiologist Dr. David Twomey fell seriously ill, his family faced an agonizing question: What happens to the practice he spent nearly four decades building?
Audiology Associates of East Texas, Inc., founded in 1984, had become a trusted provider in Tyler, TX, serving over 16,000 patients with a reputation for compassionate, personalized care. But now, the family needed to act quickly. Dr. Twomey’s wife, Karen—who also served as office manager—reached out to Strategic Medical Brokers (SMB) for help navigating an urgent and emotional exit.
To ensure a thoughtful and strategic process, their son, a mergers & acquisitions professional, joined the initial consultations and helped screen prospective brokers. He ultimately recommended SMB based on our specialized experience, responsiveness, and reputation for handling sensitive situations with discretion and care.
Engagement Timeline
- Engagement Signed: April 10, 2021
• LOI Accepted (Individual Buyer): July 20, 2021
• Backup Offer Accepted (Corporate Buyer): August 23, 2021
• Transaction Closed: November 1, 2021
Challenge: Urgent Health Concerns and No Time to Spare
With Dr. Twomey unable to continue seeing patients, time was of the essence. We advised Karen to engage a locum tenens agency specializing in audiology to maintain continuity of care, buying us time to market the opportunity and secure the right buyer without telegraphing the underlying urgency.
SMB’s Strategy: Confidential, Accelerated, and Focused
Despite the compressed timeline, SMB executed a full valuation and launched a targeted, confidential marketing campaign to three distinct buyer groups:
– Independent audiologists
– Regional clinic operators seeking growth
– Corporate consolidators with infrastructure support
Importantly, we did not disclose the seller’s health situation in any public materials. Only qualified buyers who signed NDAs were informed of the personal circumstances, ensuring confidentiality and preserving negotiating leverage.
What Made This Practice So Attractive
– Over 16,000 patient charts and a stellar community reputation
– Prime location in Tyler, TX, just minutes from UT Health Tyler
– Growth-ready 2,300 SF facility with sound booth, modern equipment, and expansion potential
– Diversified insurance panel including BCBS, UnitedHealthcare, Medicare, and others
– Loyal team and culture of “treating every patient like family”
The Outcome: Legacy Preserved, Full Price Achieved
Although our first buyer, a solo audiologist, was enthusiastic, they failed to secure third-party financing. Because we had kept the practice in play, we were able to pivot quickly and secure a backup offer at full asking price from a reputable corporate buyer.
On November 1, 2021, the sale officially closed. As part of the deal, the Twomeys secured a three-year lease on their medical office building, ensuring ongoing income while preserving the practice’s location and accessibility for patients.
Results That Mattered
✅ Full-price sale at $345,000
✅ Seamless transition of staff and continuity of care
✅ Three-year building lease secured post-sale
✅ Practice legacy preserved in the community
✅ Seller relieved of practice responsibilities during a critical time
A Message to Fellow Practice Owners
If you’re a physician or audiologist nearing retirement—or facing an unplanned exit—it’s never too early (or too late) to seek help. Whether you’re planning years ahead or reacting to unexpected circumstances, SMB brings the experience, urgency, and discretion needed to get the deal done right.
📞 Schedule a Confidential Exit Planning Call
📥 3-Year Exit Planning Timeline Infographic
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