Business For Sale

Family Medical Practice

Not Disclosed, IL
Lake County


Asking Price: Annual Revenue:
$139,000 $242,360

Services: Medical, Dental


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RE: Family Medical Practice Broker: Terry Flanagan

Quick Facts

Asking Price: $139,000
Annual Revenue: $242,360
Net Profit: Not Disclosed
Cash Flow: $96,880
Total Debt: Not Disclosed
FF&E: $24,513
Real Estate: Not Disclosed
Year Established: 1955
Employees: 2
BBN Listing #: 97674955
Broker Reference #: 4202-14400

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Business Overview:

The practice was established in 1955. The current seller took over the practice in 1986. The patient mix is 50/50 white collar and blue collar. The patient census includes:

5 years - 20 years 10%

20 years - 40 years 30%

40 years - 65 years 30%

65 years + 30%

The practice takes all major medical insurance. No Medicaid, HMO or capitation payment patients.

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Property Features and Assets:

The seller shares a 2,000 square-foot office with another physician. The building is a stand-alone facility along a major local thoroughfare with adequate parking. The two physician's split all operating costs including rent, utilities, staff and operational purchases. The office consists of 4 examination rooms, 1 nurse’s station and 1 lab area. Additional work areas include a private doctor’s office, medical record filing area and a management area. The seller shares office equipment with the second physician. Total Assets; $36,326.

Market Competition and Expansion:

The area is under-served for family practices. This practice has existed in the current location for 60 years with a strong presence in the local area. Immediate opportunities for growth are expansion of office hours and introduction of electronic medical records. This office presents an opportunity for a new physician to enter an established practice with controlled operating costs or an extension office for an existing practice.

Reason for Selling:

Physician wishes to retire.

Additional Details:

  • The property is leased.
  • The owner is willing to train/assist the new owner.
  • This is not a homebased business opportunity.
  • This is not a franchise resale opportunity.

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Disclaimer:

The information has been supplied by the Seller. BBN has not verified any of the information provided in this listing. Any agreement or decision by a buyer to pursue a transaction of this listing should be based on further investigation and due diligence. BBN expressly disclaims any and all liability resulting from the sale of this business. For full disclosure please read BBN's full Legal Disclaimer.


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