Sale - SA - investment in the practice from working GPs or merging w/ other clin

  • 2017-09-12
  • 2371648
  • Practice Sales
  • GP Practice
  • Adelaide
  • Permanent
  • linda.allatt@jwhealth.com.au
Buy into the business or buy the whole business!***Beautiful new location (less than 1 yr old) w/ all new fittings & fixtures***10 kms from Adelaide's CBD so not a DWS***

Description


This is only a new practice (opened Dec 2015) and open to investment in the practice from GPs that can bill in this non-DWS location. The owners would also be open to discussions with other practices that may be interested in merging into their practice; and will consider a 100% walk in walk out sale! 
 
The current directors are happy to sell the lot OR release 40% of the business, for $120K, and this might be to several buyers or to one buyer. 10% of the equity is worth $30K. They are looking for GP's that want to join in the profit sharing of their business or a new buyer to purchase the whole business in it's entirety. 
 
The clinic is all BB and the GPs are on a 70/30% fee split. Currently 4x GP's wkg there, 2x female P/T and 2x F/T males. 
 
They have allied health on site too, incl diabetes educator, physio + podiatrists. They have path paying rent, Australian clinical labs and nursing support. 
 
Within the complex, there is a government dental business and a young mother's support group called Talking Reality. The vicinity is like a mini health hub. 
 
There is space also for a pharmacy and they are in discussions with a nearby pharmacy to have them move into that space. The lease is a 10x5x5 yr lease with the right of refusal in place for the freehold should the current owners decide to sell. 
 
The associate would be asked to pay their portion of the bank guarantee which is equivalent to 3 months rent, and also to take over a part of the Medfinn loan and interest which is $180K + $30K so $210K in total for the fit-out and equipment. 
 
The pt demographics of the suburbs around this clinic are Vietnamese, Indian and Slavic/Croatian so someone with additional language skills from these countries would be highly regarded as would a GP with an interest in women's health! 
 
The Opportunity
- Medical centre with massive long term potential on a prominent community site in an area set for significant population growth in the next 2-3 years.
- Leasehold only, but with last right of refusal to buy site.
- All the hard work is done in setting up the practice – fitout, accreditation, PIPs etc. Currently has a patient base over 2,000 (with limited marketing) and is perfect for a corporate buyer or group of GPs with the capacity to grow it into its long term potential.
 
Location
Westwood Medical Centre is positioned to be the primary GP clinic in the “Westwood” precinct (FKA “The Parks”) servicing Angle Park, Ferryden Park, Mansfield Park, Athol Park, Regency Park, Wingfield, Croydon Park, Woodville Gardens et al.
 
The Practice
- Growing practice, operating for 12 months, >3,000 patients, approx 250 patients per week with massive potential for growth with additional FTEs
- Fully equipped with state of the art technology, 50Mb fibre optic connection and good IT Support
- Tenancy is approx. 375sqm
- 14 consulting rooms in total + spacious 2 bed treatment room
- Bulk-billing
- Current GPs receive 70% of billings, but each GP is negotiated case by case
- Good nursing support
- Allied health and onsite pathology in place
- Ready for AGPAL accreditation
- PIPs, PNIPs and ePIPs in place
- Ownership group has another medical centre which they grew from scratch into a profitable practice seeing 600 patients per week within 18-24 months. Shared services currently in place between the two practices.
 
What we are seeking
- A working GP or group of GPs to buy in, willing to sell a significant % of the business or 100% of the business for $300K. 
 
Currently 2.5 FTE GPs, w/ scope for 8 or more FTEs long term, additional GPs will see direct impact on bottom line.

E: linda.allatt@jwhealth.com.au for additional information about this opportunity!