Olympic M&A

Olympic M&A Helping Founders Exit Like Champions | M&A & Growth Capital

๐—œ ๐˜€๐—ฝ๐—ฒ๐—ป๐˜ ๐˜€๐—ฒ๐˜ƒ๐—ฒ๐—ป ๐˜†๐—ฒ๐—ฎ๐—ฟ๐˜€ ๐—ฎ๐˜ ๐— ๐——๐—ฉ๐—œ๐—ฃ, ๐—ณ๐—ถ๐—ฟ๐˜€๐˜ ๐—ฟ๐—ฒ๐—ฐ๐—ฟ๐˜‚๐—ถ๐˜๐—ถ๐—ป๐—ด ๐—ฐ๐—ผ๐—ป๐—ฐ๐—ถ๐—ฒ๐—ฟ๐—ด๐—ฒ ๐—ฝ๐—ต๐˜†๐˜€๐—ถ๐—ฐ๐—ถ๐—ฎ๐—ป๐˜€, ๐˜๐—ต๐—ฒ๐—ป ๐—ฎ๐—ฐ๐—พ๐˜‚๐—ถ๐—ฟ๐—ถ๐—ป๐—ด ๐˜๐—ต๐—ฒ๐—ถ๐—ฟ ๐—ฝ๐—ฟ๐—ฎ๐—ฐ๐˜๐—ถ๐—ฐ๐—ฒ๐˜€.I was the buyer. I r...
09/02/2026

๐—œ ๐˜€๐—ฝ๐—ฒ๐—ป๐˜ ๐˜€๐—ฒ๐˜ƒ๐—ฒ๐—ป ๐˜†๐—ฒ๐—ฎ๐—ฟ๐˜€ ๐—ฎ๐˜ ๐— ๐——๐—ฉ๐—œ๐—ฃ, ๐—ณ๐—ถ๐—ฟ๐˜€๐˜ ๐—ฟ๐—ฒ๐—ฐ๐—ฟ๐˜‚๐—ถ๐˜๐—ถ๐—ป๐—ด ๐—ฐ๐—ผ๐—ป๐—ฐ๐—ถ๐—ฒ๐—ฟ๐—ด๐—ฒ ๐—ฝ๐—ต๐˜†๐˜€๐—ถ๐—ฐ๐—ถ๐—ฎ๐—ป๐˜€, ๐˜๐—ต๐—ฒ๐—ป ๐—ฎ๐—ฐ๐—พ๐˜‚๐—ถ๐—ฟ๐—ถ๐—ป๐—ด ๐˜๐—ต๐—ฒ๐—ถ๐—ฟ ๐—ฝ๐—ฟ๐—ฎ๐—ฐ๐˜๐—ถ๐—ฐ๐—ฒ๐˜€.

I was the buyer. I ran the diligence. I made the offers.

๐—ง๐—ผ๐—ฑ๐—ฎ๐˜† ๐—œ ๐—ฟ๐—ฒ๐—ฝ๐—ฟ๐—ฒ๐˜€๐—ฒ๐—ป๐˜ ๐˜๐—ต๐—ฒ ๐˜€๐—ฒ๐—น๐—น๐—ฒ๐—ฟ.

And from that vantage point, I can tell you the single thing that most consistently separates a high-value concierge sale from an average one.

The practice runs without the founder. Not perfectly. Not without the physician's clinical judgment.

But operationally โ€” scheduling, billing, patient communication, care protocols โ€” the practice has systems that function when the owner steps away.

Practices that demonstrate this attract more buyers, get stronger offers, and close with better post-close terms, including more protection for the physician's autonomy.

That operational independence is not built overnight. It is 18 to 24 months of deliberate work.

The time to start is before anyone is making you an offer.

www.olympicma.com/contact

The fastest way to reduce your EAP company's valuation:Let one or two employers represent the majority of your revenue.C...
08/31/2026

The fastest way to reduce your EAP company's valuation:

Let one or two employers represent the majority of your revenue.

Customer concentration is one of the top discount factors in EAP acquisitions. If your top client represents 30 percent or more of revenue, buyers see risk. Not fatal risk, but priced risk โ€” usually through earnout structure and reps and warranties.

The inverse is also true.

A diversified employer base with 20, 30, 40 clients โ€” none representing more than 10 to 15 percent of revenue โ€” reads as durable, transferable, and lower risk. That profile commands stronger multiples and cleaner deal structure.

This is not something that changes overnight. It is a 12 to 24 month strategy. Adding clients, reducing dependence on anchor accounts, diversifying contract terms.

The EAP owners who understand this early have time to act on it. The ones who discover it during diligence are explaining it to a buyer who is already revising their offer.

www.olympicma.com/contact

The number that determines what your EAP business sells for is not revenue. It is adjusted EBITDA.Earnings before intere...
08/28/2026

The number that determines what your EAP business sells for is not revenue. It is adjusted EBITDA.

Earnings before interest, taxes, depreciation, and amortization โ€” then normalized.

What normalization means in an EAP context:

Owner compensation adjusted to a market rate.
One-time expenses removed โ€” a year you built out a new platform, a non-recurring legal cost.
Personal expenses separated from business expenses.
Pro-forma revenue included if new contracts were signed close to the sale date.

Buyers run a quality of earnings analysis on every serious deal. Their team reconciles every line of
your financials against your tax returns and bank statements. Every add-back gets scrutinized. The
ones that cannot be substantiated get stripped out.

When add-backs get stripped, the adjusted EBITDA falls. When EBITDA falls, the purchase price
follows.

The fix is straightforward: clean books, documented add-backs, 24 months of organized financials.
That work done before diligence is worth multiples of whatever it costs to do it.

www.olympicma.com/business-valuation-calculator

If there is one number buyers in medical aesthetics reward more than almost any other, it is the share of revenue that r...
08/26/2026

If there is one number buyers in medical aesthetics reward more than almost any other, it is the share of revenue that repeats every month without a new sale.

Memberships. Treatment packages. Loyalty programs that convert one-time visits into predictable income.

That predictability is exactly what a buyer is willing to pay extra for. Recurring revenue can mean the difference of a full turn โ€” sometimes more โ€” in your EBITDA multiple.

Med spa consolidation is active in 2026. PE-backed platforms are scaling fast.
Dermatology and cosmetic practices are seeing strong buyer interest.

The owners who understand their value drivers before a buyer calls are in a very different position
than the ones who are hearing these numbers for the first time during a negotiation.

๐—ช๐—ต๐—ฎ๐˜ ๐˜€๐—ต๐—ฎ๐—ฟ๐—ฒ ๐—ผ๐—ณ ๐˜†๐—ผ๐˜‚๐—ฟ ๐—ฟ๐—ฒ๐˜ƒ๐—ฒ๐—ป๐˜‚๐—ฒ ๐˜„๐—ผ๐˜‚๐—น๐—ฑ ๐˜†๐—ผ๐˜‚ ๐˜€๐—ฎ๐˜† ๐—ถ๐˜€ ๐˜๐—ฟ๐˜‚๐—น๐˜† ๐—ฟ๐—ฒ๐—ฐ๐˜‚๐—ฟ๐—ฟ๐—ถ๐—ป๐—ด?

www.olympicma.com/business-valuation-calculator

The EAP owners who get the best outcomes are almost never the ones who started preparing when a buyer called.They starte...
08/24/2026

The EAP owners who get the best outcomes are almost never the ones who started preparing when a buyer called.

They started 12 to 24 months earlier. Not because they were planning to sell at a specific date.

Because they knew that preparation is where the multiple is won or lost โ€” not at the negotiating table.

๐—ช๐—ต๐—ฎ๐˜ ๐—ฑ๐—ผ๐—ฒ๐˜€ ๐˜๐—ต๐—ฎ๐˜ ๐—ฝ๐—ฟ๐—ฒ๐—ฝ๐—ฎ๐—ฟ๐—ฎ๐˜๐—ถ๐—ผ๐—ป ๐—ฎ๐—ฐ๐˜๐˜‚๐—ฎ๐—น๐—น๐˜† ๐—น๐—ผ๐—ผ๐—ธ ๐—น๐—ถ๐—ธ๐—ฒ?

Cleaning up the financials. Accrual-basis books. Personal expenses separated. Normalized EBITDA that holds up in a quality of earnings analysis.

Documenting employer contracts. Renewal history. PEPM rates. Customer concentration data. Utilization reports organized and available.

Reducing founder dependency. Does the business run without you? If not โ€” what would it take to change that?

Building out the reporting stack. Modern employer-facing data and outcomes reporting
signals operational maturity. Buyers notice it. It affects the offer.

None of this is complex. All of it takes time.

The owners who start early have options. The ones who wait are reactive.

www.olympicma.com/contact

๐—ช๐—ต๐—ฒ๐—ป ๐—ฎ ๐˜€๐—ฒ๐—ฟ๐—ถ๐—ผ๐˜‚๐˜€ ๐—ฏ๐˜‚๐˜†๐—ฒ๐—ฟ ๐—ฒ๐˜ƒ๐—ฎ๐—น๐˜‚๐—ฎ๐˜๐—ฒ๐˜€ ๐—ฎ๐—ป ๐—˜๐—”๐—ฃ ๐—ฏ๐˜‚๐˜€๐—ถ๐—ป๐—ฒ๐˜€๐˜€, ๐—ต๐—ฒ๐—ฟ๐—ฒ ๐—ถ๐˜€ ๐˜„๐—ต๐—ฎ๐˜ ๐˜๐—ต๐—ฒ ๐—ฑ๐—ถ๐—น๐—ถ๐—ด๐—ฒ๐—ป๐—ฐ๐—ฒ ๐—ฎ๐—ฐ๐˜๐˜‚๐—ฎ๐—น๐—น๐˜† ๐—น๐—ผ๐—ผ๐—ธ๐˜€ ๐—น๐—ถ๐—ธ๐—ฒ.Employer contract quality...
08/21/2026

๐—ช๐—ต๐—ฒ๐—ป ๐—ฎ ๐˜€๐—ฒ๐—ฟ๐—ถ๐—ผ๐˜‚๐˜€ ๐—ฏ๐˜‚๐˜†๐—ฒ๐—ฟ ๐—ฒ๐˜ƒ๐—ฎ๐—น๐˜‚๐—ฎ๐˜๐—ฒ๐˜€ ๐—ฎ๐—ป ๐—˜๐—”๐—ฃ ๐—ฏ๐˜‚๐˜€๐—ถ๐—ป๐—ฒ๐˜€๐˜€, ๐—ต๐—ฒ๐—ฟ๐—ฒ ๐—ถ๐˜€ ๐˜„๐—ต๐—ฎ๐˜ ๐˜๐—ต๐—ฒ ๐—ฑ๐—ถ๐—น๐—ถ๐—ด๐—ฒ๐—ป๐—ฐ๐—ฒ ๐—ฎ๐—ฐ๐˜๐˜‚๐—ฎ๐—น๐—น๐˜† ๐—น๐—ผ๐—ผ๐—ธ๐˜€ ๐—น๐—ถ๐—ธ๐—ฒ.

Employer contract quality. Not just how many contracts, how sticky they are.

Multi-year history. Renewal rates. Notice and termination language. Buyers want revenue that does
not need to be re-won every year.

Customer concentration. If one or two employers represent more than 30 percent of revenue, that is a risk factor. Buyers price it in โ€” usually through earnout structure, not just headline price.

Utilization data. Well-documented utilization rates signal a healthy, used program.

Low utilization can mean the EAP is nominally in place but not deeply embedded.

Buyers notice both.

Downstream referral pipeline.

๐——๐—ผ ๐˜†๐—ผ๐˜‚๐—ฟ ๐—ฒ๐—บ๐—ฝ๐—น๐—ผ๐˜†๐—ฒ๐—ฟ ๐—ฐ๐—น๐—ถ๐—ฒ๐—ป๐˜๐˜€ ๐—ด๐—ฒ๐—ป๐—ฒ๐—ฟ๐—ฎ๐˜๐—ฒ ๐—ผ๐—ป๐—ด๐—ผ๐—ถ๐—ป๐—ด ๐˜๐—ต๐—ฒ๐—ฟ๐—ฎ๐—ฝ๐˜†, ๐—ฝ๐˜€๐˜†๐—ฐ๐—ต๐—ถ๐—ฎ๐˜๐—ฟ๐˜†, ๐—ผ๐—ฟ ๐—œ๐—ข๐—ฃ ๐—ฟ๐—ฒ๐—ณ๐—ฒ๐—ฟ๐—ฟ๐—ฎ๐—น๐˜€?

That downstream value is increasingly part of how strategic buyers price EAP deals.

Technology and reporting. Modern EAP platforms that provide employer-facing data and outcomes reporting are easier to integrate into larger behavioral health networks.

That ease adds to the offer.

These are not hypothetical criteria. They are the questions on every serious buyer's diligence checklist.

www.olympicma.com/eap-business-valuation-calculator/

๐—ง๐—ต๐—ฒ ๐—บ๐—ผ๐˜€๐˜ ๐—ฐ๐—ผ๐—บ๐—บ๐—ผ๐—ป ๐—บ๐—ถ๐˜€๐˜๐—ฎ๐—ธ๐—ฒ ๐—˜๐—”๐—ฃ ๐—ผ๐˜„๐—ป๐—ฒ๐—ฟ๐˜€ ๐—บ๐—ฎ๐—ธ๐—ฒ ๐˜„๐—ต๐—ฒ๐—ป ๐˜€๐—ฒ๐—น๐—น๐—ถ๐—ป๐—ด:Negotiating alone against a buyer who does this every day.It sounds...
08/19/2026

๐—ง๐—ต๐—ฒ ๐—บ๐—ผ๐˜€๐˜ ๐—ฐ๐—ผ๐—บ๐—บ๐—ผ๐—ป ๐—บ๐—ถ๐˜€๐˜๐—ฎ๐—ธ๐—ฒ ๐—˜๐—”๐—ฃ ๐—ผ๐˜„๐—ป๐—ฒ๐—ฟ๐˜€ ๐—บ๐—ฎ๐—ธ๐—ฒ ๐˜„๐—ต๐—ฒ๐—ป ๐˜€๐—ฒ๐—น๐—น๐—ถ๐—ป๐—ด:

Negotiating alone against a buyer who does this every day.

It sounds straightforward until you are in it.

A strategic platform or PE firm reaches out. Genuine interest. A term sheet arrives. The number looks reasonable. Maybe even strong.

You start negotiating. Price feels set. Earnout structure starts growing. PEPM rates get adjusted.

Customer concentration provisions appear in the reps and warranties. Staff retention language is vague. You are not sure what you actually agreed to.

By the time an advisor gets involved, the LOI is almost signed. The leverage is gone.

The single biggest cost in EAP M&A is not advisor fees. It is what owners leave on the table when they negotiate without competition and without someone protecting their interests.

๐—ช๐—ต๐—ฒ๐—ป ๐˜†๐—ผ๐˜‚ ๐—ฎ๐—ฟ๐—ฒ ๐—ฟ๐—ฒ๐—ฎ๐—ฑ๐˜† ๐˜๐—ผ ๐˜๐—ฎ๐—น๐—ธ ๐—ฐ๐—ผ๐—ป๐—ณ๐—ถ๐—ฑ๐—ฒ๐—ป๐˜๐—ถ๐—ฎ๐—น๐—น๐˜†, ๐˜„๐—ฒ ๐—ฎ๐—ฟ๐—ฒ ๐—ต๐—ฒ๐—ฟ๐—ฒ.

www.olympicma.com/contact

&AInsights

A question I hear from almost every EAP owner early in a conversation:"๐™’๐™๐™ค ๐™ฌ๐™ค๐™ช๐™ก๐™™ ๐™–๐™˜๐™ฉ๐™ช๐™–๐™ก๐™ก๐™ฎ ๐™ฌ๐™–๐™ฃ๐™ฉ ๐™ฉ๐™ค ๐™—๐™ช๐™ฎ ๐™ข๐™ฎ ๐™˜๐™ค๐™ข๐™ฅ๐™–๐™ฃ๐™ฎ?"The ho...
08/17/2026

A question I hear from almost every EAP owner early in a conversation:

"๐™’๐™๐™ค ๐™ฌ๐™ค๐™ช๐™ก๐™™ ๐™–๐™˜๐™ฉ๐™ช๐™–๐™ก๐™ก๐™ฎ ๐™ฌ๐™–๐™ฃ๐™ฉ ๐™ฉ๐™ค ๐™—๐™ช๐™ฎ ๐™ข๐™ฎ ๐™˜๐™ค๐™ข๐™ฅ๐™–๐™ฃ๐™ฎ?"

The honest answer is more interesting than most owners expect.

Strategic buyers. PE-backed behavioral health platforms looking to add employer contract revenue.

Payers. Health insurers building employer-facing mental health divisions.

Health systems. Hospitals expanding their community-facing behavioral health footprint.

Independent behavioral health groups. Regional operators expanding via acquisition.

Each type values different things. Each pays different multiples. Each offers different post-close terms.

The EAP owner who understands the full buyer landscape before going to market is in a fundamentally different negotiating position than the one who only talks to the first buyer who calls.

Knowing who is at the table โ€” and who should be โ€” is one of the most valuable things an advisor brings to a process.

๐—ช๐—ต๐—ฒ๐—ป ๐˜†๐—ผ๐˜‚ ๐—ฎ๐—ฟ๐—ฒ ๐—ฟ๐—ฒ๐—ฎ๐—ฑ๐˜† ๐—ณ๐—ผ๐—ฟ ๐—ฎ ๐—ฐ๐—ผ๐—ป๐—ณ๐—ถ๐—ฑ๐—ฒ๐—ป๐˜๐—ถ๐—ฎ๐—น ๐—ฐ๐—ผ๐—ป๐˜ƒ๐—ฒ๐—ฟ๐˜€๐—ฎ๐˜๐—ถ๐—ผ๐—ป, ๐˜„๐—ฒ ๐—ฎ๐—ฟ๐—ฒ ๐—ต๐—ฒ๐—ฟ๐—ฒ.
www.olympicma.com/contact

For most concierge physicians, the real value of what they have built is not in the equipment.Itโ€™s not even in the reven...
08/14/2026

For most concierge physicians, the real value of what they have built is not in the equipment.

Itโ€™s not even in the revenue.

Itโ€™s in the membership base.

Retention rates of 94 to 96 percent. Non-insurance revenue at 80 to 90 percent of total income.

Predictable, recurring cash flow that a buyer can underwrite with confidence.

That profile is exactly what attracts private equity and strategic platforms to concierge medicine in 2026.

The consolidation wave forming now is earlier in its cycle than what you see in psychiatry or med spas.

For an owner, that means more time to prepare, and more leverage if you do.

You don't have to sell tomorrow. But you should know what your practice is worth today.

www.olympicma.com/business-valuation-calculator

๐—ง๐—ต๐—ฒ ๐—˜๐—”๐—ฃ ๐—บ๐—ฎ๐—ฟ๐—ธ๐—ฒ๐˜ ๐—ถ๐˜€ ๐—ฐ๐—ผ๐—ป๐˜€๐—ผ๐—น๐—ถ๐—ฑ๐—ฎ๐˜๐—ถ๐—ป๐—ด.Not in the dramatic, headline-grabbing way you see in some healthcare sectors.Quietly. T...
08/12/2026

๐—ง๐—ต๐—ฒ ๐—˜๐—”๐—ฃ ๐—บ๐—ฎ๐—ฟ๐—ธ๐—ฒ๐˜ ๐—ถ๐˜€ ๐—ฐ๐—ผ๐—ป๐˜€๐—ผ๐—น๐—ถ๐—ฑ๐—ฎ๐˜๐—ถ๐—ป๐—ด.

Not in the dramatic, headline-grabbing way you see in some healthcare sectors.

Quietly. Through bolt-on acquisitions, platform add-ons, and strategic integrations.

Private equity-backed behavioral health platforms are actively seeking EAP businesses to expand referral pipelines, access long-standing employer contracts, and accelerate geographic growth through embedded relationships.

Payer acquisitions are happening. Health systems are building employer-facing divisions.

Independent EAP companies are increasingly part of larger behavioral health consolidation stories.

For EAP owners, this creates something real: a buyer universe that is larger and more active than it has been at any point in the last decade.

That does not mean you should sell. It means you should understand what is happening before a buyer calls with a term sheet and 72 hours to decide.

๐—ช๐—ต๐—ฒ๐—ป ๐˜†๐—ผ๐˜‚ ๐—ฎ๐—ฟ๐—ฒ ๐—ฟ๐—ฒ๐—ฎ๐—ฑ๐˜† ๐—ณ๐—ผ๐—ฟ ๐—ฎ ๐—ฐ๐—ผ๐—ป๐—ณ๐—ถ๐—ฑ๐—ฒ๐—ป๐˜๐—ถ๐—ฎ๐—น ๐—ฐ๐—ผ๐—ป๐˜ƒ๐—ฒ๐—ฟ๐˜€๐—ฎ๐˜๐—ถ๐—ผ๐—ป, ๐˜„๐—ฒ ๐—ฎ๐—ฟ๐—ฒ ๐—ต๐—ฒ๐—ฟ๐—ฒ.

www.olympicma.com/contact

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