Highly Profitable Family Medicine Practice, Running for 30+ years

Suffolk County, NY
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Asking Price:$2,300,000
Gross Revenue:$2,331,830
EBITDA:$1,146,000
Cash Flow:$1,146,000
Rent:$5,130/Month
Established Year:1988
BUSINESS DESCRIPTION

Solo-practitioner: Private family practice clinic running for 30+ years with shared office space, staff, and laboratory. There are currently 3 other private practitioner physicians in the building who share the space and equipment, an office manager, MAs, and billing staff. In-office procedures include a full New York State certified laboratory running a wide array of diagnostic testing. Access to ultrasound machine and technician included. Beautiful suburban community with lovely patients.

Financials:
Gross Revenue in 2023 was 2,331,830; Net income, less all expenses was $1,146,000;
Gross Revenue in 2022 was 2,590,000, expenses 1,240,000, for a net income of 1,351,000.
Gross revenue in 2021 was 2,801,329, with expenses of 1,417,537, for a net income 1,383,000.
The practice has had over 1 million take-home income for 15+ years. Happy to share all accounting and books. The seller has been a practicing physician for 30+ years and now wants to retire and transition this practice to someone both caring and business savy.


DETAILED INFORMATION
Location
Suffolk County, NY
Inventory
Not Included in asking price
Real Estate
Leased
Building SF
5,000
Lease Expiration
01/01/2034
Facilities
Large medical practice with private office, multiple patient rooms, New York State certified laboratory, ultrasound and technician, MAs, billing dept, and office manager.
Competition
Growth & Expansion
Could easily hire NP or PA for additional passive income. Or could work longer hours for incredible profit--currently the physician works 8 hours for 5 days a week. Incredible growth opportunity for motivated purchaser.
Support & Training
Physician is willing to provide 2 months of training and introduction to patients
Reason for Selling
Seller is 65+ and planning retirement.
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