Pre-LOI deal intelligence,
delivered before the other buyer's LOI.
A two to three business day workup on the deals that survive your screen: CIM claims checked against independent public data, seller and market context built out, and a written deal memo with the call - proceed to IOI or pass - plus the LOI question list. The expensive workstreams come after the LOI; this is the pass that decides whether they should - before the spend, not after it.
The race to LOI is won in the workup week.
In my corp dev seats, the pre-LOI workup ran 40 to 60 hours per deal: rebuilding the CIM's numbers, checking the roster, sizing the market, pressure-testing the multiple. A lean team cannot staff that for every live deal, so one of two things happens. The workup gets skipped, and the LOI goes out priced on the seller's own story. Or the workup gets done slowly, and another buyer submits while the model is still being built.
Both outcomes are expensive. An underinformed LOI leads to a retrade or a broken deal after the five-figure QoE and legal spend is already committed. A slow one loses the asset. The fix is a workup that runs in days instead of weeks, done by someone who has read these CIMs from the buyer's chair.
One deal, worked up deep. Decided in days.
Delivered as a structured memo with exhibits: what checks out, what does not, what it is worth, and what to demand in the LOI.
The roster reality check
Provider counts validated against NPPES and state licensing rather than the CIM's page four. Rosters routinely misstate the provider base, and the gap moves revenue, EBITDA, and the multiple.
CIM claims verification
Location footprint, payer mix signals, service lines, and growth claims checked against CMS files, payer directories, and the target's public record.
Seller and succession context
Owner age and succession posture, prior transaction attempts, litigation and lien signals, and the situation driving the sale.
Market and competitive overlap
Which platforms consolidate the market, where the asset sits in it, and who else is likely at the table for this deal.
Valuation sanity check
The asking multiple benchmarked against sub-sector precedent, with the adjustments a buyer should price and an IOI range the model supports.
The deal memo: proceed to IOI, or pass
The recommendation and the reasoning, plus the ranked question list to push into the LOI, the QoE scope, and the exclusivity period.
The second pass in a three-pass pipeline.
First pass: every teaser
Deal screening automation reads the incoming broker flow daily and recommends pass or pursue against your buy-box.
Second pass: the survivors (this page)
Pre-LOI deal intelligence puts a practitioner-grade workup on the deals worth real attention, one deal at a time, before the IOI or LOI goes out.
Proactive: the deals brokers never send
A market map builds the off-market target universe so the pipeline is bigger than the inbox.
Built for buyers with more live deals than analyst hours.
PE-backed healthcare platforms
Add-on flow arriving faster than the corp dev team can work it up, with IOI deadlines that do not wait.
Corporate development teams
Multiple live processes and one modeling bench. The workup runs in parallel so the team stays on the deals in motion.
Private equity funds
A new platform thesis in a sub-sector without an in-house healthcare bench to pressure-test the first deals.
Independent sponsors
A defensible written workup that holds up in front of capital partners and lenders before the LOI is signed.
Two to three business days typical.
Standard single-target workups deliver in that window. Multi-site or multi-state targets, and post-LOI confirmatory scopes, are timed on the discovery call.
Fixed project fee.
Scoped by deal complexity and sub-sector. Standard structure: 50% deposit to kick off work, 50% net 30 on delivery. Healthcare M&AI does not use success fees, contingency compensation, or transaction-based pricing. All engagements are advisory research.
Common questions about pre-LOI deal intelligence.
What is pre-LOI deal intelligence?
Pre-LOI deal intelligence is a rapid, independent workup on a deal that has survived your first screen: the CIM's claims checked against public data, the seller and market context built out, and the valuation sanity-checked against sub-sector comps, delivered as a written deal memo, proceed to IOI or pass, in two to three business days. It exists so the LOI decision is made on verified information, and so the expensive post-LOI workstreams are only unleashed on deals that deserve them.
How is this different from a quality of earnings report?
A QoE is an accounting workstream that runs after the LOI, on the seller's internal financials, and typically costs five figures. Pre-LOI deal intelligence runs before the LOI, on independent public data, and decides whether that QoE spend is warranted at all. It complements the QoE rather than replacing it, and the memo's question list gives the QoE and legal teams a head start on where to dig.
What if we are already under LOI?
Then the same verification toolkit runs as a confirmatory pass during exclusivity: an independent check on provider rosters, licensing, payer signals, and market dynamics, scoped to the specific risks your diligence has surfaced. It runs in parallel with the QoE and legal workstreams and feeds findings into them while they can still shape the deal.
What data does the workup use?
NPPES and state licensing records, CMS provider files, payer directories, county and court records, precedent transaction comps, and the target's public footprint. Public information only unless otherwise agreed under a mutual NDA. CIM material you share is handled under your NDA's terms.
How fast is it, and how is it priced?
Two to three business days for a standard workup, scoped on the discovery call for multi-site or multi-state targets. Fixed project fee: 50% deposit to kick off work, 50% net 30 on delivery. No success fees, no contingency, no transaction-based pricing.
Get the workup before the LOI goes out.
Send the teaser or CIM context, the sub-sector, and your deadline. We will scope the workup on a 25-minute discovery call and deliver in two to three business days.