“Business goes where it's invited and returns where it's treated best.”
Larry Nail
Principal & Managing Partner
Larry Nail, who has completed $1 Billion of total transactions, has over 25 years of experience in healthcare mergers and acquisitions and business development. His main areas of expertise in the outpatient healthcare services area are renal dialysis centers, ambulatory surgery centers, transitional care facilities, urgent care centers, orthopedics, podiatry, dermatology, dental and med spas.
He is the Principal and Founder of LCN Executive Healthcare Group, LLC. The company focuses on working with private equity and healthcare companies with opportunities to make investments in healthcare businesses as well as grow existing healthcare businesses as it relates to the outpatient setting. Mr. Nail is also a Buy Side Advisory Partner for Shore Capital Partners, Frontline Healthcare Partners and Aspire Physician Solutions working with the teams to assist in healthcare opportunities to add to their thesis and portfolio.
Mr. Nail was a founding member and senior vice president of business development for Reliant Renal Care, a national dialysis center chain as well as Vice President of Business Development for U.S. Renal Care, Inc., an outpatient dialysis center company. He was also a founding member and Vice President of Business Development for National Surgical Care as well as Physicians Surgical Care. In his early career, Mr. Nail held various senior level positions with Baxter Healthcare Corporation and began his career with the Procter and Gamble Company.
“The risk of riskless living is the greatest risk of all.”
What is LCN?
This is not an auction but more of a vetting process for optimal success between the capital business partner (CBP) and the local owner(s). LCN is paid by the buy-side group (CBP) with an expense like the attorney or accounting fees charged for doing the transaction and do not come out of the seller’s pocket.
“Not every deal is a good deal,” Larry says. It must work for everyone and is not just one or two items. It is a myriad of things to consider for everyone and is not just about a winning valuation. Anyone can do this and it is called an auction. An auction is great if you are leaving the business and have no real interest in your legacy practice; however, if you plan to continue to work and you care about your legacy, this is only one point to consider and as you will see, it is not the biggest consideration even in the valuation sense with a CBP.
The actual process to finding the right business partnership is equally or more important than the negotiation of the actual transaction. Remember with a CBP you are not giving up your life work, you are evolving and growing it. Some key questions that LCN Healthcare aims to understand is the following:
- Why a CBP versus a larger institutional group or a hospital?
- What are the most important things to you in a partnership by rank?: money, equity, culture, clinical, back office, better contracting, etc.
- Why partner now?
LCN Healthcare prides itself in the enormous number of experienced people they have worked with along the way. Because of this vast experience, there is a full rolodex of business owners, physicians, dentists, and others with key information in their geographic area that will be immensely helpful as the company looks at markets for opportunities of growing a capital company’s portfolio businesses.
Recommendations
Don't take Larry's word for it.
Sonia Ponnusamy
Co-Founder & Partner
Aspire Physician Solutions
Aspire Physician Solutions
I've discovered that Larry possesses extensive knowledge across various healthcare service sectors and consistently presents promising opportunities that align with our establishment goals. He is approachable, reliable, and conducts discussions with potential partners and opportunities with transparency. His contributions significantly enhance the value of our work.
Chris Mioton
Partner
Shore Capital Partners
Shore Capital Partners
I've had the pleasure of knowing Larry Nail for more than 8 years. His contributions have been invaluable to several of our out-patient healthcare services portfolio companies at Shore Capital Partners. Larry is highly proactive in identifying promising opportunities and consistently approaches potential partners with respect throughout the process.
Charley French
Partner
Frontline Healthcare Partners
Frontline Healthcare Partners
Larry has been a deal sourcing and development partner of Frontline for several years, and are very helpful in staying in front of business owners and founders who are looking for a partner such as us. And in the case of one of our investments, he was instrumental in locating our founding platform.