Case Study — HEALTHCARE M&A
How Michael Roub built a 23-location acquisition engine at
U.S. HealthWorks
Michael Roub ran corporate development at U.S. HealthWorks, sourcing, negotiating, and closing 23 acquisitions across five states – growing the company’s location count by roughly 20%.
Client
US HealthWorks
Role
VP of Business Development
Engagement
2008–2010
Focus
Corporate development & M&A
23
Locations Acquired
Across five states.
20%
Location-Count Growth
Delivered during the engagement.
5
States Entered
CA, FL, WA, AZ, TX.
What did the acquisition landscape look like before Roub arrived?
U.S. HealthWorks was already the second-largest occupational medicine provider in the country, with a dominant position in California built up over years of operation. Scale on its own, though, hadn’t translated into a working acquisition engine: the company had seen limited success closing deals, with no structured pipeline of target locations and no consistent process for identifying, approaching, and winning over independent practice owners.
That gap meant U.S. HealthWorks was growing mostly on the strength of its existing footprint rather than expanding it. Occupational medicine practices tend to be owned by physicians or small groups who built the business themselves, and turning that kind of owner into a seller takes sustained, direct outreach rather than opportunistic deal-making. Without a dedicated function built to do that work at scale, sizable opportunities, like the 23 locations eventually brought in across five states, were going untapped.
Before Roub arrived
Limited
Acquisition success despite market-leading scale
None
Structured target pipeline
Handful
Independent, unconsolidated owners nationwide
What was Michael Roub’s role?
Roub built and ran the corporate development function at U.S. HealthWorks as Vice President of Business Development from 2008 to 2010.
Deal Sourcing
Built a multi-state occupational medicine target pipeline. Spoke directly with hundreds of clinic owners to identify viable targets.
Deal Valuation and Negotiation
Led deal valuation and negotiation processes to work towards a signed letter of intent.
Due Diligence and Closing
Managed due diligence efforts and worked closely with legal and operations teams throughout.
About Michael Roub
Managing Partner and Founder of Inflection 360 Wharton BS, Chicago Booth MBA. Two decades advising growth businesses and healthcare practices.
How did the work unfold?
01
Built the pipeline from scratch
Mapped hundreds of target locations nationwide at a company with limited acquisition success and little structured sourcing in place.
02
Went directly to the owners
Contacted practice owners himself and met with them across many states to open the relationships that made each deal possible.
03
Turned owners into sellers
Convinced independent owners who weren’t planning to sell to bring their practices onto the US HealthWorks platform.
04
Carried every deal to close
Led sourcing, negotiation, diligence, and approvals through closing, working with US HealthWorks’ legal and operational teams.
What changed for U.S. HealthWorks?
23
Locations Acquired at US HealthWorks
Across five states, every deal a success.
20%
Location-Count Growth
Delivered over the engagement.
100%
DEAL SUCCESS RATE
Every transaction closed as a success for the company.
“It was truly gratifying to have success at Western Dental, and it was similar to my experience at US HealthWorks, particularly working with the same CEO. What I most appreciated was that Dan had thought of me several years later and knew I would be successful in the role.”
– Michael Roub
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Contact Us
Inflection 360 is a strategic consulting partner to healthcare practices and business owners nationwide, delivering hands-on expertise across business planning, acquisitions, market assessment, and exit strategy.
info@inflection360.com
(747) 334-2725
