NYC Hand Therapy Practice for Sale
July 3, 2020
After 35 years a highly regarded and well known hand therapist in NYC is relocating.
The practice is structured as a sole proprietorship, and grossed just over $80,000 in 2019, with 1586 productive sessions provided to approximately 115 patients. There are always new patients referred each month, fluctuating from 4 to 15 new patients monthly. The practice currently is in network with Cigna, BC BS, Oxford and Medicare. Payor mix is approximately Medicare. 10%, Worker’s comp/ No fault. 1%,In network. 70%, Out of network. 5% , Private pay 14%
The practice owner ( CHT/OTR) has well established and long term relationships with many of the hand surgeons in NYC, is very highly regarded among colleagues and adored by patients. The practice sees a variety of patients with hand and upper extremity injuries including traumatic multi-tissue injuries, tendon repairs, fractures, arthritis, repetitive strain, nerve compression, tendinopathies, among others. They provide custom-fabricated static and dynamic splints/orthotics, along with pre-fab splints. The practice is housed in a live/work loft in Manhattan so the brick and mortar is not included. The practice owner would be willing to stay on for a reasonable transition period and would definitely consider a part time ongoing employment agreement.
Terms of sale – This would be structured as an asset sale, with an ask price of $50,000, with terms available if 50% is paid upon closing.
For additional information, please email Iris at email@example.com on behalf of the practice owner.