Established Ophthalmology Practice

Not Disclosed, NY
Onondaga County


Asking Price: Annual Revenue:
$1,300,000 $1,470,000

Services: Medical, Dental


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RE: Established Ophthalmology Practice Broker: Scott Dumas
Owner Financing is Available!
Seller willing to hold a portion of the selling price.

Quick Facts

Asking Price: $1,300,000
Annual Revenue: $1,470,000
Net Profit: $515,000
Cash Flow: $775,000
Total Debt: Not Disclosed
FF&E: Not Disclosed
Real Estate: Not Disclosed
Year Established: 2003
Employees: 5
BBN Listing #: 881462262
Broker Reference #: Not Disclosed

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Business Overview:

Stable, well known ophthalmology practice in one of Central New York’s strongest demographic neighborhoods.

This practice is in a leased space located in a large medical office complex and has been serving the greater Syracuse metropolitan area for more than 3 decades.

Billed Revenue in excess of $2.5 million and Collected Revenue of $1.5 million annually. Normalized Seller’s Discretionary Earnings of $775,000. The practice has an overhead ratio of less than 60% of Collected Revenue.

Office is completely digital (no charts).

The Top 5 Payers by Collected Revenue include Blue Cross, Patient self-pay, Medicare of NY, Fidelis Care, and Aetna Health.

The owner is the sole provider of medical services and administrative office staff includes 5 Full Time Employees. The Seller is currently expanding the business into advanced medicines on the fringe of eye-care industry with higher margins and greater percent of billings paid by insurers. The Seller does not currently perform cataract or laser eye surgery (referrers-out roughly 150 cases per year).

There is opportunity for a purchaser to increase cash flow by growing the advanced medicines business, performing their own surgical procedures and improving revenue collections.

Existing doctor would like to retire but is also willing to stay on as necessary to ensure a smooth transition.

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Property Features and Assets:

Leased location of 1,850 square feet within a busy regional medical complex. Property is well leased but available spaces exist for future expansion.

Market Competition and Expansion:

Sole practitioner has been expanding their business in to a advanced medical eyecare business which sees higher patient direct pay. Seller is willing to grow that business while Buyer continues to grow Ophthalmology practice and expand by doing their own surgeries vs. referring them out as they are currently. 2019 revenues totaled $1.47 million with 2020 closing-out at $1.2M. Post-COVID first six months of 2021 reflect return to revenue levels of 2019.

Reason for Selling:

Retiring

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.

Documents:

Relevant Links:

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