A Healthcare Founder’s Next Chapter
Rehan Azhar sold his stake in Comprehensive Rehab Consultants to York Private Equity after 39 months of building what became one of the nation’s leading physiatry groups. The transaction shifted him from majority owner to minority stakeholder, a common but jarring transition for healthcare founders.
Now he sits on boards, supports charitable causes, and advises other companies. The shift marks a familiar passage for entrepreneurs who cash out: What comes after the intensity of building something from nothing? Azhar’s answer involves spreading his attention across investments, philanthropy, and political engagement, replacing the singular focus of company-building with deliberate diversification.
The Mechanics of Stepping Back
CRC’s maturation happened faster than anticipated. By the time of the York transaction, the company ran on systems rather than founder involvement.
“As the company matured, it required less direct involvement from me,” Azhar explained. “The systems and team we built were designed to operate independently, which was the goal from a business perspective.”
This organizational independence—the goal of any scalable business—created an unexpected vacuum. Board meetings replaced operational huddles. Quarterly reviews supplanted daily problem-solving.
“The transition involved moving from complete operational control to strategic board involvement,” he noted. “The responsibility becomes shared across multiple stakeholders, which changes the decision-making dynamic significantly.”
Finding New Outlets for Old Habits
Entrepreneurs often describe the post-exit period as withdrawal. The adrenaline of building dissipates. The phone stops ringing with urgent problems. Azhar experienced this void acutely.
“Building a company requires continuous strategic decisions and rapid problem-solving,” he said. “The intensity and pace of that environment becomes deeply engaging.”
His solution involved reconstructing that decision-making environment across multiple ventures. Investment opportunities provided analytical challenges. Philanthropic initiatives required organizational assessment. Political involvement demanded judgment calls about candidates and causes.
Each activity partially fills the gap left by full-time entrepreneurship without requiring the same consuming commitment.
Money as Tool, Not Target
The financial windfall from CRC’s transaction changed Azhar’s relationship with wealth. Early career metrics became irrelevant. The question shifted from accumulating resources to deploying them.
“Early in my career, I focused primarily on financial metrics and professional advancement,” he said. “The achievement of those goals created space to consider broader definitions of success.”
Now he prioritizes health, relationships, and personal values as core success indicators. This recalibration can be a common approach among entrepreneurs who achieve liquidity events. The money becomes instrumental rather than aspirational.
Philanthropic Infrastructure Over Charitable Impulse
Azhar’s charitable activities apply business principles to giving, focusing on sustainable organizations and infrastructure investments that create lasting impact. This preference for permanent solutions over temporary relief mirrors his approach at CRC.
The methodology assumes that strong institutions create lasting community benefit beyond any individual donation’s impact. Rather than one-off contributions, he seeks organizations building long-term capacity.
His political contributions follow similar logic. “Political involvement allows for impact on systemic issues that affect communities broadly,” he explained. The approach treats political giving as investment rather than charity—seeking root causes rather than symptoms.
The Board Member Learning Curve
Serving on boards after running a company requires substantial adjustment. The shift from majority control to minority stakeholder fundamentally alters the relationship with decision-making.
The collaborative governance model means influence without authority—a challenge for former founders accustomed to unilateral action. Board meetings move slowly compared to startup decision cycles. Consensus-building replaces direct command.
Yet the distance provides perspective unavailable to active operators. Pattern recognition across multiple companies becomes possible. Industry trends can sometimes emerge more clearly from the boardroom than the trenches.
Azhar’s post-CRC activities include participation in other organizations’ growth through investment and advisory roles. This involvement allows him to maintain engagement with business building while diversifying across multiple ventures.
Lessons for Founders
Azhar’s experience offers practical insights for entrepreneurs approaching their own exits. The operational independence that makes companies valuable also makes founders less central. Preparing psychologically for this shift matters as much as preparing financially for the transaction.
Key elements include developing comfort with reduced operational control and finding new sources of professional challenge. Building diverse networks beyond the original industry helps, as does having clear vision about post-exit activities and impact goals.
The identity shift from founder to former founder requires conscious management. Some entrepreneurs immediately start new companies to recreate familiar patterns. Others experiment with portfolio careers that provide variety without singular commitment.
The skills that build great companies—focus, intensity, singular vision—must adapt when the company no longer needs them. Learning to operate effectively without those constraints requires different capabilities entirely.
Azhar’s model offers a blueprint for other entrepreneurs seeking to leverage their success for broader contribution while maintaining intellectual challenges and personal fulfillment.