OVERVIEW: This well-established and highly regarded pediatric PT and ST practice is just finishing its sixth year in business within the South Hills of Pittsburgh, Pennsylvania. The practice sees clients from birth to 18 years old. We are contracted with Highmark BC/BS, United Healthcare, Aetna, Cigna, Medicaid, and accept private pay. The practice is known for quality and client-centered care, while operating with minimal overhead expenses. Our devoted owner and therapists have created a solid foundation for a prospective buyer to build upon and expand.
FACILITY and LOCATION- The office is 2000 square feet housed within a one-story office complex along with four other businesses. It has a dedicated waiting room/receptionist office, three private treatment rooms, a 400 square foot gym, two bathrooms (one is ADA compliant), a practice manager’s office, and a separate kitchen area with space for three full time staff to sit and prepare notes/treatment plans. It was fully renovated in September 2017 with all new floors, paint, and cabinetry. There is ample parking including handicapped parking. There is access to the office 24/7. The lease runs through late 2024 and the property owner is willing to extend the lease for a reasonable rate. The location is a turnkey operation and will include all equipment, supplies, play activities, and furniture. The practice is located in a safe mixed residential/commercial area, set off a main road with high visibility.
STAFFING – Currently, 1 owner works full-time and splits time as a physical therapist and performs administrative/director duties. We also employ 2 full-time speech therapists and are trying to hire a full-time OT. All staff will likely be retained under new ownership.
FINANCIAL OVERVIEW – Full financial information including, but not limited to, profit and loss statements and tax returns for the last five years are available for inspection. The gross revenue for the company steadily increased from $113,000 in 2018 to $257,000 in 2022. The loss of a full time OT in late 2022 has gross revenue projected to be $205,000 in 2023.
PRACTICE STATISTICS – The practice averages approximately 265 visits/month. Clients are typically seen 1-2x per week. All sessions are typically 30 minutes except some PT sessions are 45-60 minutes depending on patient needs. Full practice stats, # of return patients, and patients receiving both PT and ST are available.
GROWTH OPPORTUNITIES: There are limitless growth opportunities for this practice. Current therapists are approximately 40% booked and still have a few coveted after school appointments available. There is room for expansion within the office as one exam room is open and can be used for a full-time OT. The number of patients needing OT among the existing PT/ST caseload would make the OT fully profitable. The administrative office could also be easily converted to a ST treatment room. Implementing a formal marketing campaign, social network campaigns, online blog content, and expanding network communications would immediately impact short and long-term growth. Furthermore, expanding hours to even later in the evening and adding Saturday morning times might offer increased flexibility for patients and aid in growth.
ASKING PRICE – $265,000 the offering price includes past and current client contact info, website, phone and social media accounts. Terms are negotiable. The owner is willing to stay on for a reasonable time-period to treat patients (PT, to ease the transition of ownership, and help ensure sufficient staffing.