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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