Well Established Medical Practice With Strong Cashflow

Oakland County, MI
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Asking Price:$950,000
Gross Revenue:$839,000
Cash Flow:$512,000
Established Year:1989
BUSINESS DESCRIPTION

Very well-established and well managed primary care and preventive health care practice operating in the same location for 35 years with approximately 7,900 patient visits per year.

Located within a 5-mile radius of five large hospital system locations.

This practice serves area communities with a personalized approach and mostly serves adults between 18 and 70 years of age (no pediatrics or obstetrics).

Insurance payor distribution among patients: Medicare Part B (28.7%), Commercial Insurance (14.3%), BCBS (52.9%), HMO (2.7%), and Medicaid (1.0%).

Many growth opportunities exist since this practice only accepts new patients through referrals. Opening up satellite locations within 90 miles of the current location would help the practice grow quickly.

PLEASE NOTE: Only buyers with a medical license will be considered.

Six employees to stay on and the building is leased. – Seller will stay on for a reasonable transition period as well.


DETAILED INFORMATION
Location
Oakland County, MI
Inventory
Not Included in asking price
Real Estate
Leased
Employees
6
Facilities
Very nicely updated medical practice space with a renewable lease.
Competition
Very little competition since they services all communities in the area.
Growth & Expansion
Would be easy to grow by adding marketing and possibly opening up satellite locations.
Support & Training
The seller will stay on for a reasonable amount of time to ensure a smooth transition.
Reason for Selling
Retiring
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John
Meyers
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John Meyers