ER & Entrepreneurship: John Shufeldt's MeMD Walmart Deal

This week on The Exit: John Shufeldt was an ER doctor before embarking on a decades-long career as a serial healthcare entrepreneur with three companies and a health-tech VC firm under his belt. He details the sale of his virtual medicine business, MeMD to Walmart in 2021. He recognizes that, while he happened to sell at a peak valuation, it wasn’t due to timing the market, but rather his success came in selling the company while there was still a “blue ocean” of growth opportunity ahead, and a compelling story of year-over-year historic growth. When selling to large buyers like those of Walmart, he emphasizes how important it is to have your numbers in order, and how much easier it is to build this into your business operations early, rather than retroactively trying to clean up finances when an offer is at your doorstep. For more details and insights from his entrepreneurial journey, listen to the latest episode of The Exit. John Shufeldt has more than three decades of healthcare entrepreneurship. In 1993, John founded NextCare, Inc., which expanded under his leadership from one to 60 clinics across six states, generating nearly $100 million in revenue. In 2010, after his tenure as NextCare’s CEO, John launched MeMD, LLC, connecting over 500 medical professionals to patients virtually. Walmart acquired MeMD in 2021. John created Tribal Health in 2015, addressing healthcare needs in Indigenous territories. The organization now employs over 450 providers across 35 Native American healthcare facilities. In 2021, he founded Xcellerant Ventures, a VC firm focused on investing in health-tech startups. LinkedIn: https://www.linkedin.com/in/john-shufeldt/ Website: https://www.johnshufeldtmd.com/ Website: https://www.linkedin.com/company/xcellerantventures/ For a Free Flippa Business Valuation: https://flippa.com/exit -- The Exit—Presented By Flippa: A 30-minute podcast featuring expert entrepreneurs who have been there and done it. The Exit talks to operators who have bought and sold a business. You’ll learn how they did it, why they did it, and get exposure to the world of exits, a world occupied by a small few, but accessible to many. To listen to the podcast or get daily listing updates, click on flippa.com/the-exit-podcast/