BUSINESS DESCRIPTION AND BACKGROUND
Established in 2013, this practice successfully offers both chiropractic and physical therapy treatment in the same office, doing over 450 productive visits per week. The turnkey practice is credentialed with most insurance companies in the area, and they also have a private pay component. The practice gets approximately 15-20 new patients per week. Referrals are received from local orthopedists, primary care providers, local business, current and prior patients.
The practice is housed in a free-standing commercial ADA compliant building. It is an updated, clean, bright space with a generous number of windows, skylights and abundant natural light. The 5000 square foot office includes an approximately 1500 square foot rehab and exercise area and open therapy area, two closed off therapy examination and treatment areas, five private adjusting suites with sinks, two private, professional consultation rooms with TV screens connected to laptops for x-ray report of findings, a kitchen/break room, three bathrooms including staff bathroom, ample storage, large waiting room/reception area, two professional clerical areas, and a massage therapy room that is rented out monthly.
There is free ample parking with approximately 23 spaces, two executive spaces in the front, as well as five additional spaces that are rented from the neighboring office.
The practice is located in a robust city in Upstate NY, convenient to bus transportation and highways. There are malls, restaurants, retail businesses and several industrial parks in the immediate area.
The office is fully computerized and utilizes electronic notes and electronic billing via Eclipse medical software and two central clearinghouses. There is a computer network, with a File server, multiple wired workstations with portable note pad capabilities, VPN network, Printers, Wireless router and Fiber Optic Internet. Priority One manages the payroll account and timecards.
There are currently 2 Full time chiropractors (1 is an owner), 2 fulltime PTs (1 is an owner), 2 Full time Physical Therapist Assistants, 2 Full time front desk associates, 1 billing associate, 1 collections and office manager.
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 gross revenue for the company is consistently over 1.4 million. The A/R runs about $ 275,000 and there is no debt.
There are numerous opportunities for growth for this practice. Hours could be expanded into the evening and weekend hours could be expanded. Additional staff members could be added to the team to increase scheduling capacity. The primary source of marketing is internet based. Additional staff members could do outreach clinics to local businesses and high schools and middle schools to further expand the patient base.
OFFERING PRICE AND TERMS
Asking price is $ 1.4 M. The partners are willing to stay on for a reasonable transition period. The real estate is available for separate purchase.
Serious and interested parties, please reach out to brokerteam@