Established in 2015, this profitable, multi-GP practice w/ corporate standard presentation is new to the market. Vendor is seeking $3.5M ONO.
Open 5.5 days, there is plenty of scope to add value to this successful, mixed billing practice. There are many great reasons to buy this practice, including having a great team!
10 GPs in total all on 70/30 (7x FT + 3x PT = 7.5 FTE GPs), with some Drs there for as long as 8 yrs
11 CR's and 1x path no room for additional reg's
2x F/T nurses use a dedicated treatment room plus 1x nurse doing health assessments
F/T PM (38.25 hrs/wk) + owner there weekly for few hrs only
Pt demographics are a bit older so needing more frequent consults
Location: Located in a shopping centre w/ Coles & Woolies as head tenants, there is good footfall + loads of parking nearby. Conveniently located near the practice are several pharmacies, radiologists, specialist centres & a public hospital.
Facilities: 300m2 w/ 10 CR's, 2x procedure rms, a two bay tx rm, a physio + a path rm.
Lease: for 8 yrs til 2032 $25,300/12 incl outgoing (power + water) + GST = $300K + pa ($195K initially increasing 4% annually)
Fees: Over $100 per consult, Drs making $3K a day in billings. Moved to Private billings so fees are increasing now as 40% private + 60% BB so gross income has increased over the last 12 months from $4.M to $4.9M (projected). Average monthly billings are now up over $100K from $70K since April 2024.
Subtenants: Clear visibility of the path in this very desirable location. Path pays $100K/pa (increasing as more Drs join), with a lease til 2025 & a high possibility of rent increase (with a letter from interested pathology). Podiatrist pays room rent (1/wk = $200/wk) + clinical psychology (3x/wk) + physio (3x/wk) both pay a 70/30 fee split.
Pts: Complex care coordination $100K additional incentive to the practice from the PHN (valid for 2x yrs til April 2025). Health assessments can increase billing of $400K by adding extra nurses. Average age of the suburb is 52 yrs, can do more CDM & health assessments as more nurses are recruited. New pts each week & over 14,000 pt files on the software.
Accreditation: til 2026 w/ QPA
Services offered include but are not limited to:
General Health & CDM
Skin checks (skin flaps + excisions)
Cosmedical procedures (injectables & fillers)
Women's Health & Immunisations
Reproductive health (including IUD insertion & removal)
Infusion medicine Iron (Dr + nurse) & Medicinal Cannabis
Not currently doing medication reviews so an opportunity to add services
Online meetings are required initially before any site visits take place after hrs to preserve pt + team confidentiality.
For a full Information Memorandum, copy and paste this link to complete the confidentiality agreement - https://form-morgan-business.web.app/form/fXvuu3ew3upDNouBmNyV
