Green Sail is happy to announce another outstanding practice purchase opportunity!
MID-SIZE GENERAL PRACTICE AND BUILDING
$368,000 PRACTICE $300,000 BUILDING
About the Practice:
Why burn money on a lease when you can own the office? This profitable general practice, located in a growing town in SW Washington, is a prime opportunity for a doctor looking for a second office or a primary office to grow. It is 1,700 sq feet, with an additional 1,200 sq foot two car garage and basement. It is housed in its own building, which is owned by the selling doctor and is also available for purchase. It includes four fully equipped and fully private operatories, Schick digital x-rays, Eaglesoft and paperless charts. The clinic’s three year average collections is $522,132 on just two doctor days/week. The doctor splits time with a second location that is closer to where he resides, and has had to cut back on hours due to an illness in the family. Most specialty procedures are referred out, providing growth opportunity for the new buyer.
About the Facility:
It has a spacious, mid-century design and construction with plenty of room for storage. There is a welcoming reception area, four operatories, a business office, private doctor’s office with a bathroom, a staff lounge, laundry facilities, a full basement with addition laundry and bathroom, sterilization room, and an 8-spot parking lot (free street parking as well). The building includes opportunity to expand the practice, as its 480 sq foot 2-car garage could be converted into office/clinic space. The building was recently valued at $300,000 and is available to purchase. Recent updates include a new roof and heat pump.
About the Numbers:
On just two days per week, the current team collected $485,771 in 2018. The decline from the previous year due to fewer days worked. Adjusted net income was $290,953 (59% of collections). Hygiene was also performed just two days/week and consisted of 22% of production. There are 5,675 total patients of record, with approximately 686 active. The production is 71% insurance, 29% FFS and there are no DSHS patients. The buyer’s expected net income after debt payments is $228,432 with just the purchase of the practice, and $199,432 if building is included in the purchase, at the current production level.
- 1,700 Square foot clinic
- 4 Operatories
- Eaglesoft software
- Digital X-rays
- Cranex Pan
- Empire, Marus and DCI chairs, lights and deliveries
- Lab, sterilization
- Private office with bath
- Full garage
- Business office area
- Private parking lot
- 2 restrooms
- Staff room with laundry
- Full basement with storage/laundry
- Approx. 700 active patients
- Endo equipment
- $245,167 adj. net income
- $199,432 buyer’s expected net income with purchase of practice + building