In this edition of Built to Sell News, we bring you the story of Nicole Osmer, the founder and president of Health+Commerce, a public relations and marketing agency serving the MedTech, biotech, and digital health industries.
Over seven years, Nicole grew Health+Commerce from $1M to $10M in annual revenue. Her path was not without obstacles. Along the way, Nicole received an acquisition offer that seemed too good to be true. Unfortunately, it was, and the deal fell apart. Nicole picked herself up after the devasting setback and in March 2024, she successfully led Health+Commerce to an acquisition by Trinity Hunt-backed Supreme Group.
In this episode of Built to Sell Radio, Nicole shares practical advice on navigating the complexities of selling a business. You’ll learn how to:
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Secure inbound acquisition offers with minimal effort
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Effectively vet inbound offers
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Decide the optimal time to sell
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Gracefully walk away from deals that aren’t right
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Spot and handle “bait and switch” acquisition offers
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Negotiate a Letter of Intent (LOI) to minimize re-trading
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Communicate the sale to your employees
Most founders get so entangled in daily operations that they end up owning a job, not a business. Those who succeed often face predatory acquirers trying to undervalue their life’s work. We believe that’s unfair, and we’re here to help.
We level the playing field for your exit. Whether you’re years or decades from selling, we’ll show you how acquirers assess your business and reveal tactics they use to exploit first-time sellers.
Take the first step by downloading the free Endgame eBook.
Quote of the Week
“I’ve heard other people talk about the very fast LOI, long due diligence, and then re -trading. That is what happened with us that first deal.”
– Nicole Osmer describes why her first acquisition offer fell apart.
Deals
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Krispy Kreme, Inc. announced the sale of a majority ownership stake in Insomnia Cookies to Verlinvest and Mistral Equity Partners. The transaction, valued at $350 million, reflects a doubling in enterprise value since Krispy Kreme’s acquisition in 2018.
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APEIRON Biologics AG, a company that receives royalties from the sale of a cancer treatment drug called QARZIBA®, has been acquired by Ligand Pharmaceuticals Incorporated, a company that makes money by owning the rights to various drugs and earning royalties from their sales, for $100 million in cash. This acquisition, expected to close in July 2024, will immediately boost Ligand’s earnings per share (EPS) by approximately $1.00 annually. The deal also includes up to $28 million in additional payments based on future commercial and regulatory milestones. This acquisition values APEIRON Biologics at approximately 8 times its annual royalty revenue from QARZIBA®.
