Page 32 - CANNABIS NEWS FLORIDA JUNE 2021

Marc Egort: 'Things Evolve Because

There's a Need For Them' When it comes to ultrasound systems
The Machine Makes
BY LOIS THOMSON

According to Marc Egort, "There are ƋĘå %ĜýåųåĹÏå
quite a few things a CPA gets involved
with." Those "things" might even be
ones not usually associated with CPA
work. For example, a person may not
consider that a CPA would be engaged in
mergers and acquisitions; but Egort,
founder of Marc Egort CPA, P.A., has
been handling them for years.
Interestingly, the two can go hand-in-
hand and he explained how this evolved
into his practice, saying he basically got
started by being somebody's accountant.
He said a client may indicate he is think- Marc Egort
ing of selling his business, and Egort
will reply, all right, let's talk about it; let's change the way you would view the val-
figure out how you're contemplating the uation approach." He cited a jewelry
valuation, what you think some of the company as an example, saying it might
trigger points are, some of the vulnera- have $5 million in inventory on their
bilities. "As their CPA, you are in a books. "What is that company worth?
unique position to assist them with posi- Using an over-simplistic approach, one
tioning their business for sale and assist- could make an argument that because
ing them on the due diligence side. Like the inventory is the largest asset of the
anything else in practice, things evolve company, its value would dictate the
because there's a need for them. sale; if I'm taking over that company, I'm
Inevitably it just shows up when you've basically buying that inventory."
been practicing as long as I have." On the other hand, physician practices
Egort has been in the health care space are more likely based on either the num-
business for 32 years, with over 30 years ber of patients or revenues. Egort said in
in public accounting, starting in a some cases, the buyer may have a strategic
Medicare certified home health agency reason for wanting it, or might just want
in 1989. From there he went to work for to make an investment in it. "Perhaps they
a boutique CPA firm that specialized in want to get the other group off the market The Latest Siemens Healthineers
home health reimbursement. He formed because they're a competitor, or maybe ACUSON Sequoia Ultrasound System,
his own practice 10 years later. "I they're taking over a dermatology practice
became known as a Medicare reimburse- that utilizers lasers, and their investment now available in Florida
ment consultant, but the funny thing in that company gives them access to exclusively from Med-Lab.
was, when my clients learned I had a technologies they don't currently have.
CPA license, they would say 'Oh by the There are also strategic alliances, simply
way, I need you to help me with my because a physician wants to retire." He
taxes.' From that it just kind of evolved added that there are often intangibles that
into an accounting practice, and now we have to be considered as well, such as the eŸ ± ŸŅĹŅčų±ŞĘåųØ ƼŅƚų ĵ±ÏĘĜĹå ĜŸ ƼŅƚų ĜĹŸƋųƚĵåĹƋţ
are able to offer more in the way of cus- goodwill of the practice, how long the ¥Ņƚűƴå ĵ±ŸƋåųåÚ ĜƋŸ ŧƚĜųĩŸţ ¥Ņƚ ĩĹŅƵ ĘŅƵ ƋŅ ĵ±ĩå ĜƋ ŸĜĹčţ
tomized services for our clients." physicians have been involved, or how
He said when going over financial long they will continue to be involved ƚƋ ±Ƌ ± ÏåųƋ±ĜĹ ŞŅĜĹƋØ ƋĘå ŅĹĬƼ Ƶ±Ƽ ƋŅ ŞƚŸĘ ƼŅƚų
information with clients, he occasionally post-sale.
asks about their plans for the future, and All of these must be taken into consid- ŞåųüŅųĵ±ĹÏå üƚųƋĘåų ĜŸ ƋŅ ±ÚŅŞƋ ± ĵŅųå ±Úƴ±ĹÏåÚ
they may say that in five or 10 years they eration, but Egort said, "The discussion ĜĹŸƋųƚĵåĹƋţ ‰Ę±ƋűŸ ƵĘåųå aåÚěX±Æ ÏŅĵåŸ ĜĹţ
want to position the company for sale. with my clients before they put their
His first recommendation is: let's start company up for sale is often, what's the
with your financial statements. "Most of number that makes you want to walk Discover Your Dream Machine
my clients – if they are service business- away from everything. That's an impor-
es – will prepare cash basis financial tant discussion. It's got to feel good for • New DAX (deep abdominal)
statements, whereas buyers usually want them to walk away from their life's work transducer penetrates up to 40cm.
to see things on an accrual basis. So the and feel as if they've gotten value out of
first place to start is to make sure they that." • Image patients of all sizes accurately and consistently.
have financial statements that the poten- Egort didn't anticipate 25 years ago • Intuitive features you’ll appreciate right out of the box.
tial acquirer could use or meet industry having his practice expand into areas
standard financial reporting." such as mergers and acquisitions, but as • Exceptional image quality and color sensitivity.
Because of his background in the he said, things sometimes evolve
home health market, Egort has a strong because there's a need for them. ƽ (YXXMRK IHKI GSQTSRIRXW TVIWIVZI WMKREP ǻHIPMX]
presence in the health care space and has However, the most important aspect of • Faster, clearer imaging with minimal degradation.
worked with quite a number of physi- his business is service. "Service and
cians – both groups as well as solo prac- communication have been the hallmark • Image deeply without compromising diagnostic integrity.
titioners. He pointed out how health of our practice for over 30 years."
care clients differ from others when it
comes to mergers and acquisitions. For more information,
"Working with health care is different all (754) 301-2183
from companies that rely on sales of or visit www.egortcpa.com.
inventory. All have varying elements that

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