Occupational Medicine Clinic - No Hospital Affl.

Not Disclosed, IN

3 locations in Northern Indiana

Asking Price: Annual Revenue:
$4,350,000 $2,565,960

Services: Medical, Dental

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RE: Occupational Medicine Clinic - No Hospital Affl. Broker: Cortney Sells
Owner Financing is Available!
Purchase Price: $4,350,000 12.5% Buyer Down Payment $543,750 12.5% Seller Financing or Equity $543,750 75% Bank Loan $3,262,500 A 12.5% down payment of $543,750 returns $610,017 in the first year after debt payments!

Quick Facts

Asking Price: $4,350,000
Annual Revenue: $2,565,960
Net Profit: Not Disclosed
Cash Flow: $1,166,308
Total Debt: Not Disclosed
FF&E: $300,361
Real Estate: Not Disclosed
Year Established: 2007
Employees: 18
BBN Listing #: 391334398
Broker Reference #: MED012

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Business Overview:

This triple-location occupational medicine practice in Elkhart, Indiana is the preferred clinic for companies in the area! Services include work-related injuries, DOT physicals, and COVID rapid testing. Established for nearly 15 years, this clinic is independently owned with no hospital affiliation, making them highly desirable to companies large and small in every industry. Offering workers’ compensation healthcare for on-the-job injuries and chronic conditions, as well as COVID rapid testing, this team has staff on duty 24/7 at two of their three locations.

Currently doing 100-150 Covid rapid tests a day
Have overnight hours which is an invaluable asset, as companies save a tremendous amount of money on Emergency Room expenses, making these locations the go-to clinics for injured workers.
Elkhart is known as the “RV Capital of the World,” so there is also an incredibly high demand for DOT Physicals in this region, as 60%-80% of all RV’s globally are manufactured there; drivers of the RV transportation vehicles are required to carry a DOT medical certificate.
Competitive advantage because they bill companies at least 3 times less than hospitals or hospital-affiliated clinics.

Staff includes the owner, who is the Supervising Physician, along with 1 FT Nurse Practitioner, 3 PT Nurse Practitioners, 1 Practice Manager, 1 Office Manager, 9 Medical Assistants, 2 Rad Techs, plus an independent contractor used for marketing. The Practice Manager and Office Manager both help with the day-to-day responsibilities of the business.

There are over 100,000 corporations in the area. Having a plan in place to broadly advertise the new third location has the potential to quadruple their revenue, as they will be the sole provider during the overnight hours in the county. A new owner could certainly bring in more revenue by continuing to publicize the fact that this clinic will bill companies at least 3 times less than hospitals or hospital-affiliated clinics. Priced at $4,350,000, a down payment of $543,750 returns $610,017 in the first year after debt payments – a 112% return on investment!

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Property Features and Assets:

Assets Included in Purchase*: $357,336 Equipment: $300,361: X-ray machines, medical equipment, furniture, fixtures, office equipment. Business Vehicles: $56,975 Software: EMR software developed by the owner & 5 programmers. This would be included in the sale and would save a new owner a significant amount of money, as EMR software is a necessity to run the business, and costs approximately $3,500/month to rent. Lease: Location 1: 3,500 square feet; Location 2: 2,000 square feet; Location 3: 3,000 square feet. (rent-free for 2 years)

Market Competition and Expansion:

Growth Opportunities: Increase awareness in the region of 24/7 business hours, as there is no competition for the overnight hours.

Reason for Selling:

Approaching retirement.

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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