This well established and highly regarded PT practice has been established in Staten Island for over 20 years and is for sale due to the upcoming relocation of the owner. The practice sees both neuro and ortho patients and has a very wide base of referral sources. The office is Medicare credentialed and participates with most managed care insurance Companies including UHC, Emblem Health, Empire BC/BS, Cigna, Optum Health, Aetna, FDNY, WTC, Humana, Tricare and others. The practice averages approximately 320 productive visits per month and receives approximately 20 new patients per month. They currently are at approximately 80% capacity compared to pre-Covid level of care. Full practice statistics are available for review.
The office is located in a mixed-use residential building within a high foot and vehicle traffic family friendly area of southern Staten Island. The 1,500 square feet office is ADA compliant, modern, clean with numerous windows. It has an open gym area with extensive state-of-the-art equipment and modalities, 6 private treatment rooms, a modalities area, waiting room and reception area. There is also a restroom facility and water fountain. The office is wired with a sound and full camera security system. A detailed inventory list of equipment is available, all included in the sale, and is available for review. There is free ample parking including handicapped parking. Current office hours are from 9:00 am to 7:00 pm, Monday, Tuesday and Thursday as well as Wednesday, Friday and Saturday 9:00 am until 2pm. There is access to the office 24/7. The terms of the lease are $5850.00 per month plus gas and electric utilities. The lease is transferable and renewable. A full copy of the lease is available for inspection. The practice owner owns the building.
The office has had electronic billing since it’s initiation in 2001 utilizing Medisoft web based Electronic Medical Billing. There is a computer and VIOP Network, Two Workstations, Wireless Router and Cable Internet.
Currently there is 1 Full-time Physical Therapist (the owner) employed. We also employ 1 Part- time Biller, 2 Physical Therapy Aides, and 2 part-time Receptionists. There is great likelihood that the current staff will stay on under the new ownership.
Full financial information including but not limited to profit and loss statements, balance sheets and tax returns for the last three years are available for inspection. The combined gross revenue for the company over the three years is over $1,155,725 and gross profit margins run between 25-30% for the years encompassing 2020-2022
We believe there are numerous growth opportunities.
(1) The office space itself is equipped to handle 2 Physical Therapists working simultaneously and much increased treatments. Currently the practice is running at approximately 60% of capacity. Expanding hours and offering pediatric services are also possible.
(2) The practice does limited marketing and social media campaigns. Increasing the marketing agenda should show immediate growth.
(3) Office can be utilized on additional evenings and Sundays for increased flexibility for patient treatments and for continuing education.
$250,000 Terms negotiable. Owner is willing to stay on for a reasonable transition period and is also available for consulting opportunities with new owner as needed.
Serious buyers please reach out to Iris Kimberg MS PT OTR on behalf of the practice owner at firstname.lastname@example.org