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Internal Medicine Practice For Sale - SOLD

Description: This Internal Medicine practice is located in a professional medical building in a downtown type setting.   

The office consists of 2,090 square feet.  As of October 1, 2013, the building was about to be purchased by an outside investor group.  The investor group will continue to lease the space to the current physician population.  The lease amount for this space is 6,317.08 which includes CAM.
 
The office consists of a large centralized waiting area with 14 chairs, two private physician’s offices, 4 examination rooms, 1 procedure rooms, 1 nurse’s station, and CLIA waived lab area.  Two lavatories are present.  The office also contains a staff lounge and storage areas for medical records.  The layout allows for ease of patient flow and efficiency of physician movement.

Patients are seen primarily by appointment with only 15% of the patient visits by walk-in.  Average patient appointment length is 15 minutes.  Average travel distance for most patients is 20 minutes.  The physician takes out patient calls.  The practice utilizes a hospitalist.

Electronic Health Records (eMD’s) are in place.  Insurance claims are transmitted electronically. 
Practice/Business Type: Primary Care>Internal Medicine
Opportunity Type: Practice For Sale
Region: North America
Country: UNITED STATES
State: FL
City: Central Atlantic Coast

Location Type: Urban
Property Type: Professional Office Bldg.
FT Doctors: 1
PT Doctors: 0
Support Staff: 6
Exams/Ops/Lanes: 5
Facility Size: 2090 Sq Ft
Seller Assist: Seller can assist buyer with transition

Central Atlantic Coast, FL N/A
Year Biz Established: 10
Entity Type: S Corp
Broker Contact OK: Y
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Biz Asking Price:    $300,000     
A/R Amount:    N/A    Included in asking Price: N
FF&E Amount:    $40,000    Included in asking Price: Y
Inventory Amount:    $4,500    Included in asking Price: Y
 
Gross Income Current
$693,086
Prev Yr1
$739,895
Prev Yr2
$915,288
Prev Yr3
$760,080
Seller Discretionary Earnings Current
$188,270
Prev Yr1
$209,218
Prev Yr2
$234,671
Prev Yr3
$249,937
History: The practice was started in 2003.  The practice was moved into its current location in 2008.
Growth Potential: Immediate opportunities for growth are present through the expansion of evening and weekend office hours. Other moderate term growth opportunities exist through utilization of the office space to incorporate complimentary medical specialties.

The practice has practice advantages of:
 High population density in the primary catchment area
 Good street visibility from high volume passing traffic
 An efficient work force in place

Reason For Selling: The physician is moving to be closer to family.
Other Remarks: The doctor's wife is currently acting as the practice manager.  She will not stay after the transition.

Agent Profile

Medical Practice Brokers, Inc.
Terry Flanagan
7740 Foresthill Lane
Palos Heights, IL 60463
1-877-988-0911
Fax: 708-361-3220
terry@practicebrokers.com
www.practicebrokers.com

More listings from this agent

Terry Flanagan is our Medical Practice Sales Group affiliate in the Midwest region.

PROFESSIONAL EXPERIENCE

Terry was in practice as a chiropractor for twenty-five years.  During that period he has practiced as a solo practitioner, as a clinic director and as a primary care physician in a multi-specialty medical clinic.  His experience and knowledge of various physician operating structures provides both buyers and sellers with the insight necessary to attain their personal goals. He holds the prestigous Certified Business Intermediary (CBI) designation through the International Business Brokers Association.

Terry is also the owner of Circumference Valuations (www.CircumferenceValuations.com), a valuation company providing financial appraisals for professional practices and small to middle market companies.  Terry has taken extensive valuation training through the American Society of Appraisers (ASA), National Association of Certified Valuation Analysts (NACVA) and the Institute of Business Appraisers (IBA).  He is an accredited valuation analyst (AVA) through NACVA and is a Certified Business Appraiser (CBA) through the IBA.  He has extensive expertise in the valuation, negotiation and sales of professional practices.

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