7d. Succession Planning for Medical Practices: Sale or Family Transition Explained
Tracks
Stream 4
| Sunday, May 24, 2026 |
| 13:15 - 14:00 |
Details
This session will outline what it means to make a practice genuinely “sale-ready,” including governance structures, operational clarity, financial transparency, and systems that allow the clinic to operate independently of the founding owner. Key considerations such as timing, valuation expectations, buyer readiness, and common pitfalls observed in practices approaching a sale will also be discussed.
For owners exploring family succession, the presentation will examine how to assess whether children or family members are willing and prepared to take on ownership responsibilities. It will address the distinction between clinical competence and business capability, and explore staged transitions, shared decision-making frameworks, and governance structures that protect both family relationships and business sustainability.
The session will also briefly consider succession planning within the broader asset base—property, equipment, corporate entities, and family holdings—highlighting why a coordinated and well-communicated plan is essential for a smooth and thoughtful transition.
Speaker
Ms Grace Sia
Managing Director
Sia Medical
Succession Planning for Medical Practices: Sale or Family Transition Explained
13:15 - 14:00Biography
Grace works in the operational and governance management of a group of GP medical practices, with a focus on long-term sustainability, risk management, and business continuity. Her work involves supporting practice owners through complex operational decisions, including ownership structures, governance frameworks, and planning for future transitions.
In addition to her healthcare experience, Grace brings a deep understanding of succession from a family business perspective. She is part of a multi-generational family enterprise that has transitioned into a family office, giving her first-hand insight into intergenerational decision-making, ownership readiness, and the balance between commercial outcomes and family dynamics.
Grace’s perspective bridges clinical environments and family enterprise, allowing her to approach succession planning in medical practices with both commercial rigour and practical sensitivity. She is particularly focused on helping practice owners understand the differences between preparing a practice for sale and planning a family transition, and the early steps required to protect value, relationships, and long-term outcomes.