Generational Group, a leading mergers and acquisitions advisory firm for privately held businesses, is pleased to announce the sale of Delta Waves, Inc. to Doctors, Inc. The acquisition closed December 9, 2025.
Headquartered in Colorado Springs, Colorado, Delta Waves, Inc. is a multi-specialty medical group that delivers personalized healthcare services in areas such as sleep medicine, family and internal medicine, and pediatrics. The organization operates clinical research centers focused on Phase II through IV trials, aiming to advance new treatments and improve patient outcomes through rigorous, ethical research practices. Since its founding in 2005, the company has emphasized compassionate patient care and innovation in diagnostics and treatment, with a team dedicated to tailored health solutions and improving quality of life.
Based in Tokyo, Japan, Doctors, Inc. supports the digital transformation of healthcare in Japan and beyond. The company builds digital health platforms and services for healthcare providers and other organizations by integrating clinical insight from its network of experienced physicians with technology. Its offerings include digital healthcare service development support, tools for medical DX adoption, and telemedicine support services. Doctors also pursues strategic partnerships and expansion initiatives to advance innovation in healthcare delivery.
Generational Group Executive Managing Director, M&A, Western Region – Lori Galloway, and her team led by Generational Affiliate, Lee Kendall, with the support of Senior Vice President, M&A, Tony Brock, successfully closed the deal. Senior Managing Director, Terry Stidham and Senior M&A Advisor, Jerry Schram established the initial relationship with Delta Waves, Inc.
Ryan Binkley, CEO of Generational Group, added, “We are proud to have supported two exceptional companies as they enter a partnership built on a shared vision and mutual respect. This transaction reflects Generational Group’s commitment to building relationships that promote meaningful progress and lasting long-term success.”
About Generational Group
Generational Group, headquartered in Dallas, TX, is a leading, award winning full-service M&A advisory firm. Generational has over 350 professionals across 17 offices in North America. The firm empowers business owners to unlock the full value of their companies through a comprehensive suite of services—including M&A advisory, exit planning education, business valuation, strategic growth advisory, wealth advisory, and digital solutions.
Celebrating its 21st year, Generational has successfully closed over 1,800 transactions and has ranked #1 or #2 in all LSEG league tables for deals valued between $25 million and $1 billion in 2024 and 2025.
The firm was named 2025 USA Investment Banking Firm of the Year by the Global M&A Network and recognized as Investment Banking Firm of the Year by The M&A Advisor in 2024 and 2025.
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