Strategic Medical Brokers LLC Research
Advisory Approach
Strategic Medical Brokers (SMB) is a physician-owned healthcare M&A advisory firm specializing exclusively in medical practice transitions. Founded in 2019 by Shaun F. Rudgear, MCBI, M&AMI, CEPA—a former medical practice owner turned broker—the firm operates with a singular focus on helping independent physicians navigate practice sales, acquisitions, and valuations. Their thesis is that medical practice transitions require specialized healthcare expertise, not generalist business brokerage. As the IBBA's only MCBI-certified healthcare specialist, SMB brings differentiated credibility to physician practice M&A.
The firm's sweet spot is independent medical practices with $1M–$10M in annual revenue, particularly primary care (family medicine, internal medicine, pediatrics) and specialty practices (cardiology, dermatology, audiology, weight management, psychiatry). They avoid hospital systems, private equity roll-ups, and non-healthcare businesses—maintaining strict focus on physician-owned practices seeking succession or exit planning.
Sector Focus
SMB serves the entire spectrum of medical practice types, though they show particular depth in primary care and high-margin specialties. Their success stories and case studies span family medicine, internal medicine, pediatrics, cardiology, dermatology, audiology, weight management, neuropsychology, and concierge medicine. They also handle multi-specialty group practices and dental practices.
Within healthcare services, their subsector expertise includes:
- Primary Care Practices: Family medicine, internal medicine, and pediatric practices with $1M–$5M revenue and established patient bases
- Specialty Practices: Cardiology, dermatology, audiology, and other single-specialty practices with higher reimbursement rates
- Concierge & Cash-Pay Models: Practices with membership revenue or 100% cash-pay models that command valuation premiums
- Multi-Specialty Groups: Practices with 2-4 physicians seeking group succession
Deal Track Record
SMB maintains an 85% success rate (vs. 25% industry average) and has closed transactions across 24+ states. Publicly documented successes include:
- Audiology Associates of East Texas: Full-price sale completed in 7 months during a crisis transition
- Bright Stars Pediatrics, PA: Achieved 30% value growth through repositioning before sale
- Frederick County Pediatrics, LLC: 38-year practice transitioned to strategic buyer
- Phoenix West Internal Medicine, LLC: Full-value exit after DIY seller disappointment
- Associated Family Physicians of Boca Raton: 9,400-patient, 4-physician practice with full-price sale
- Dr. Frances Capraro: Seamless primary care transition in under 10 months
- Sarasota Wellness & Medical Center: Concierge medicine practice sold at full price
- The Heart Institute of Venice: Cardiology practice exit with 4,000 active patients
- Psychcheck, LLC: Neuropsychology practice sold for $950K enabling Costa Rica retirement
- Advanced Skin Treatment Center PA: 34-day closing from LOI to close (January–February 2026)
The firm has also facilitated medical weight management practice sales with $882K revenue and 74% margins, family medicine/personal injury hybrid practices with diversified revenue streams, and interventional cardiology platforms with concierge components.
Process & Fee Structure
SMB runs structured, confidential sell-side processes:
- Confidential seller education meeting
- Market analysis, valuation, and price positioning
- Engagement agreement and document collection
- Marketing material preparation and approval
- Multi-channel listing (top medical practice for-sale websites)
- Qualified buyer vetting and Confidential Business Report access
- Offer negotiation and deposit securing
- Confidential data room creation and due diligence
- Contingency removal
- Legal documentation and closing facilitation
Timeline: Typically 6-12 months from engagement to close, though some transactions close in as little as 34 days (Advanced Skin Treatment Center PA) or 3-4 months (several documented cases).
Fee structure: Negotiable success fee model typical of healthcare practice brokers. SMB offers seller financing structures ($50K–$250K carry-backs documented in listings) and 100% financing arrangements for qualified buyers, suggesting flexible deal structuring. Minimum engagement size appears to be practices with at least $1M in annual revenue.
Buyer Network
SMB maintains a nationwide buyer network including:
- Individual physicians seeking practice ownership (DOs, MDs)
- Small physician groups expanding geographic or specialty footprint
- Strategic hospital systems (though less common per their independent practice focus)
- Family offices and high-net-worth individuals
- Private buyers seeking lifestyle practices
LinkedIn posts reveal active buyer qualification for cardiology, family medicine, concierge medicine, and weight management practices, suggesting a segmented buyer database by specialty.
Competitive Positioning
SMB differentiates through:
- Only MCBI in IBBA: Unique certification as the International Business Brokers Association's sole Master Certified Business Intermediary specializing in healthcare
- Physician-Owned: Co-owned by Marta Sepulveda, MD (former CEO of Hospital General Medellín), bringing clinical perspective to transitions
- Former Practice Owner Leadership: Shaun Rudgear owned and operated 3 medical practices for 13+ years before founding SMB
- 85% Success Rate: vs. 25% industry average for medical practice brokers
- 95% Valuation Precision: Data-driven valuations using EBITDA and SDE methodologies
- Healthcare-Exclusive: 100% focus on medical practices—no distractions with other business categories
- BBB A+ Accredited: Since 2021 with clean complaint history
- 80+ Years Combined Experience: Clinical, operational, and brokerage expertise across the team
Not a Fit If
SMB typically declines:
- Practices below $1M annual revenue
- Non-healthcare businesses (restaurants, retail, tech, etc.)
- Hospital system transactions or corporate roll-ups
- Practices seeking limited-process sales (SMB believes in broad buyer outreach)
- Distressed asset sales or bankruptcy scenarios
- Real estate-only transactions (they can include real estate but don't do standalone property deals)
Team
Shaun F. Rudgear, M&AMI, MCBI, CEPA – Founder & CEO. 27+ years in real estate and business brokerage, 13 years as owner/administrator of 3 medical practices, 6+ years specializing in medical practice valuation. Past President of Arizona Business Brokers Association. 2022 IBBA Chairman's Circle Award recipient (one of 98 brokers nationwide). Designations: MCBI (IBBA, 1 of 34 in U.S.), M&AMI (M&A Source, 1 of 160 worldwide), CEPA (Exit Planning Institute), CBI (IBBA), CBB (Arizona BBA). Recognized by Business Brokerage Press as industry expert.
Marta Sepulveda, MD – Partner & Business Broker. Former CEO of Hospital General Medellín, bringing clinical executive perspective to practice transitions. Physician-owner of SMB.
Kathy Mannino – Director of Operations & Business Broker. Manages transaction operations and leads buyer qualification.
Vanessa Grajales – Executive Assistant. Transaction coordination and client support.
Sandra Monica Rios – Director of Finance. Financial oversight and transaction structuring.
Braden Haldeman – Associate Broker. Deal execution and buyer outreach.
Martha Gonzalez – Marketing Coordinator. Practice marketing and listing promotion.
Firm size: 11-50 employees (LinkedIn), with 6 core professionals publicly visible. Team includes former healthcare executives, practice administrators, and brokerage specialists.
Geographic Coverage
Headquartered in Phoenix, Arizona (20860 N. Tatum Boulevard, Suite 300) with additional offices in Tampa, Florida (2202 N West Shore Blvd, Suite 200) and Dallas, Texas (1341 W Mockingbird Ln, Suite 600W). Serves 24+ states including Arizona, Florida, Texas, Georgia, Maryland, Illinois, Massachusetts, Pennsylvania, New Jersey, New York, South Carolina, North Carolina, Michigan, Tennessee, Ohio, Missouri, California, Virginia, Wisconsin, Minnesota, Louisiana, Kentucky, Indiana, Colorado, and Alabama. National coverage with concentration in Sun Belt states.