This is an outstanding opportunity for a first time practice owner looking for a very stable and solid foundation upon which to grow, or an established practice owner looking for a great second location
Overview: This is a multidisciplinary OT/ST practice providing therapeutic services for both children and adults. Established 8 years ago, it has earned a reputation for high quality, evidence based treatment and one of the only in the area to address the integration of primitive reflexes as a foundational element to help pediatric patients reach their goals faster and to cement long lasting results. It also has a separate division for private services for infant development and feeding, and an adult division for FCEs (functional capacity evaluations) with several workers compensation contracts. The practice is credentialed with many insurance companies and also has a private pay component for the birth to three program. Services are provided in the clinic or virtually as needed and are now back at pre COVID levels. The practice enjoys long standing relationships with other medical professionals for referrals and has a great word of mouth following.
Typically the practice averages approximately 780 productive 1:1 hour long sessions per month. There is a team of 5 Full-time Occupational Therapists (including owner), 1 Part-time Occupational Therapist, 2 Full-time Speech Therapists, 1 Part-Time Speech Therapist along with administrative manager and a billing coordinator. .
Facility and Location: This is a very large ground floor, ADA compliant clinic with over 5, 000 square feet. There are large gym areas ,5 treatment rooms, a large full kitchen, 3 bathrooms, 1 laundry room, and 1 large staff office. There is also a designated clerical office space in the reception area where our office manager interfaces with patients and families. There is a very large waiting/reception area, and 1 all purpose room (a designated kids’ waiting room pre-covid). There is free ample parking including handicapped parking. Terms of the lease are $6,000 per month and it is transferable and renewable. A full copy of the lease is available for inspection.
The clinic is in a prime metropolitan area of Tennessee and very convenient to the Interstate.
IT Capabilitites and Financial Overview– The clinic is fully computerized with a web based EMR system. Full financial information including but not limited to profit and loss statements, balance sheets,tax returns and practice statistics for the last three years are available for review. The gross revenue for the company is consistently over 500,000. AR over 30 days runs between $5,000 – $15,000 with no debt.
Growth Opportunities: There are multiple opportunities for growth in this practice as the area grows in popularity and demand for services increases. There is often a wait list for services, and physical therapy is needed both for the pediatric and workers compensation division of the company.
Offering terms: The practice is being offered at $200,000 with flexible terms considered with a 50% down payment. The practice owners are willing to stay on for a reasonable transition period with the new owner. Serious inquiries only.