“Business Broker” is a legal term of art with a specific meaning: a licensed agent of a principal that is registered with the state department of real estate. As agents of principals, brokers have certain fiduciary responsibilities that entitle them to prepare data, negotiate and conduct due diligence on behalf of the principals they represent. Because of licensing requirements, business brokers typically limit their business to a particular state rather than focusing on a specific industry. A “Finder” is not required to be licensed and is not an agent of the principal: Finders are primarily responsible for making introductions and acting as intermediaries between principals. Finders are usually professionals from a particular industry who are knowledgeable about the national M&A marketplace of that industry. Although finders may offer their opinions, they do not dispense formal advice, prepare documentation, or negotiate on behalf of the sellers or buyers. Principals use finders to identify opportunities but must rely on advice from attorneys, CPA’s, and possibly other advisors to analyze and act on the opportunities introduced by the finder. AHC is proud to be one of the leading finders in the healthcare service industry.