MergerPlace

Family Medical Practice

Illinois (Lake)


  • Asking Price: $139,000
  • Gross Income: $242,360
  • Cash Flow: $96,880
  • Real Estate: Not Disclosed
  • Inventory: $5,000
  • FF&E: $24,513
  • Listing ID: #209595
  • Established: 1955
  • Employees: 2 FT

Business Description

The practice was established in 1955. The current seller took over the practice in 1986. The patient mix is 50/50 white collar and blue collar. The patient census includes:

5 years - 20 years 10%

20 years - 40 years 30%

40 years - 65 years 30%

65 years + 30%

The practice takes all major medical insurance. No Medicaid, HMO or capitation payment patients.


Business Details

Primary Business Category: Health Care - Nursing & Residential
Location: Illinois
County: Lake

Company Information

Year Established: 1955
Home Based: No
Franchise: No
Relocatable: Yes
Number of Employees: 2 FT

Financial Information

Asking Price: $139,000
Gross Revenue: $242,360
Cash Flow: $96,880
FF&E: $24,513
Inventory: $5,000
Seller Financing Available: No

Property Information

Facilities:

The seller shares a 2,000 square-foot office with another physician. The building is a stand-alone facility along a major local thoroughfare with adequate parking. The two physician's split all operating costs including rent, utilities, staff and operational purchases. The office consists of 4 examination rooms, 1 nurse’s station and 1 lab area. Additional work areas include a private doctor’s office, medical record filing area and a management area.

Growth & expansion opportunities:

This practice has existed in the current location for 60 years with a strong presence in the local area. Immediate opportunities for growth are expansion of office hours and introduction of electronic medical records. This office presents an opportunity for a new physician to enter an established practice with controlled operating costs or an extension office for an existing practice.

Competition:

The area is under-served for family practices.

Reason for selling:

Physician wishes to retire.

Support & Training:

Will train for 2 weeks @ $0 cost. The operation of this practice requires an active Illinois medical license.

Contact Business Seller

This form may be used only to contact the seller of this specific business listing. Please do not use this form for any other purpose.

Business Listed By:

Terry Flanagan

Murphy Business Brokers