MergerPlace

FAMILY MEDICINE PRACTICE WITH BUILDING

Michigan


  • Asking Price: $1,070,529
  • Gross Income: $890,119
  • Cash Flow: $270,576
  • Real Estate: $625,500
  • Inventory: Not Disclosed
  • FF&E: $100,000
  • Listing ID: #225438
  • Established: 1991
  • Employees: 4

Business Description

After a long successful run, two doctors/owners of this practice and building are getting ready to retire and looking for the right successor. This long established and highly regarded family medicine practice has been around since 1990s and has been in the same location for the last 20+ years. Solid patients base includes 5,000+ active charts with EHR system in place. Currently open 4.5 days a week due to doctors preference with incredible opportunity for expansion.

Excellent manager in place with another team member cross trained for management duties, if needed. The rest of skilled and dedicated team consists of two front and two back employees. Both doctors are happy to stay for extended mutually agreed upon period to insure patients’ smooth transition.

This is an ideal opportunity for a licensed doctor or partnership to step into a turnkey operation with an established book of business and well-maintained building. With current SBA incentives, it’s never been a better time to own a medical practice! More information is available with signed NDA.

COVID-19 update:
Although the practice experienced immediate slowdown due to COVID-19, 2020 revenues came back even slightly higher than 2019. The owners are adjusting to the everchanging conditions as needed and anticipate staying busy going forward.


Business Details

Primary Business Category: Health Care - Ambulatory
Location: Michigan

Company Information

Year Established: 1991
Home Based: No
Franchise: No
Relocatable: No
Number of Employees: 4

Financial Information

Asking Price: $1,070,529
Gross Revenue: $890,119
Cash Flow: $270,576
FF&E: $100,000
Real Estate: $625,500
Seller Financing Available: No

Property Information

Facilities:

The practice is housed in a seller-owned well-maintained building located in a busy local community surrounded by other medical offices and facilities. With plenty of parking, the building is conveniently located for patients with walking distance to specialized facilities. The office is 5,200 sq ft and consists of spacious attractive lobby and front desk area, 8 exam rooms, nurses station, utility room, two bathrooms, physicians’ offices and convenient on-site lab. Full basement is available for storage or extra office space. The building also includes 4 car spacious garage in the back of the building. Real estate is valued at $625,500 and is included in this offering.

Growth & expansion opportunities:

The practice gets new patients mainly through the word of mouth, no formal marketing campaign in place. Simple website and local community outreach can increase patient volume. Leveraging large patient base to expand physical medicine procedures or grow into multi-specialty medical office is also an option.

Reason for selling:

After many years of running the practice, the two doctors are ready to retire.

Support & Training:

Both doctors are happy to stay on board for extended period to ensure smooth patients’ transition.

Contact Business Seller

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Business Listed By:

Tanya Popov

Inix Consulting and Brokerage