General / Primary / Internal Medicine Practices

UNDER LOI Tech–7075: Very Profitable, Well Established, Philadelphia Family Practice

This lucrative, well-established, 35-year old practice, has a 3-week wait for patients for appointments. The practice sees 35-40 patients per day. In 2015, the practice had 7,424 patient visits and in 2016, they are on target to see over 7,700 patients. There are currently 5,000 patient records on file. Each of the two partners work 2.25 days a week. The practice, even with two physicians, is open only for 28 hours per week (Monday-Thursday they close at 4 pm and on Fridays at 1 pm). In summer months (between Memorial Day to Labor Day), the practice is closed on Fridays and so it operates only 24 hours per week in summer. There are plenty of growth opportunities for a younger buyer – by increasing the hours, by having a website (practice does not have one) and social media presence, and by offering more service (e.g. weight loss, personal injury and workman compensation).

The facility is located on the first floor of an updated professional building on a busy street, but with a large parking lot with free parking. The office has 2,100 sq. ft. of area, and has four exam rooms. The Practice accepts most major insurances and Medicare and Medicaid.

KEY FEATURES

  • Very successful, well established, solid practice with strong margins
  • Great growth potential for a growth-oriented buyer
  • Great Location – Modern building with plenty of free parking, good neighborhood
  • Strong demand with 3-week wait for appointments
  • Lender has approved SBA financing for 10 years for a qualified buyer

FINANCIALS

  • Revenue: $1.1 million
  • Discretionary Earnings: $650K
  • 7,700 patient visits in 2016
  • SBA Lender Approved – 80% SBA 10-year financing for qualified buyer
  • Ample Growth Opportunity by working all days, keeping longer hours, and offering more services

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 SOLD Tech-7013: Family Practice in Central NJ with Good Growth Prospects and with Stand-alone Medical Building

This is a family practice medical group provides comprehensive wellness care and disease management to three counties in Central NJ. The Practice has been in this area for over 15 years with close access to major highways, major State University, city downtown, and major companies, and two major hospitals. The Practice offers early morning and evening hours to accommodate patient’s work schedule, and offers same-day appointments and on-site lab tests. Its modern EMR system provides secure electronic medical records with an online patient portal to book appointments, request refills, and ability to email patient’s provider securely online.

COMPETITIVE ADVANTAGES

  • Present in the community for 15 years
  • Only practice serving the County Commission Educational Services and City’s Volunteer Fire Co
  • Affiliated with Travel Clinics of America providing travel medicine services
  • Practice offering Weight loss program with Robard Corporation for the past 5 years. Only practice in the area serving as a distributor for products
  • Distributor for Metagenics wellness products

 KEY FEATURES

  • 85 average Visits per week
  • 8545 visits between 10/31/13 and 10/31/15
  • 50% follow up visits, 30% physical, 20% weight loss
  • Services – Wellness Exams, Physicals, Weight Loss, Diabetics, Headaches, and many more
  • CLIA- waived Lab performing Strep test, urine pregnancy spirometry, finger-stick glucose, urinalysis, fecal occult blood
  • 3 Exam rooms, 2 physician offices, reception room, two bathrooms, waiting room, lab, kitchen area, full basement

FINANCIALS

  • Revenue: $342K
  • Discretionary Earnings: $138K (for an active full-time practitioner); $168K if open full time (44 hours)
  • Growth potential by increasing hours to full time from 36 hours and doing some hospital work
  • Asking Price: $150K for Practice and $440K for the building

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Tech-Real-6021: Build-to-Suit Medical Office Space for lease in a Prime Location in Princeton, NJ

This build-to-suit medical office space offers 1,970 sq. ft. to 3,000 sq. ft. of space. It is in a beautiful 3-building complex with 40 medical and professional office suites. The Complex is 95% occupied. It offers ample parking and is just off busy Route 206.

….contact us (with Tech-No)



Tech-Real-6022: Build-to-Suit Medical Office Space for lease in a former Hospital Building in Princeton, NJ

This build-to-suit Medical office space offers 3,000 sq. ft. of space of space, can be sub divided. It is in a three story high redeveloped office building located on the former Princeton Hospital site. Offering a modern Class A space with a completely redone interior. New Modern apartment complex with 288 units adjacent to the building.

….contact us (with Tech-No)