This is suitable for a physical or an occupational therapist and has tremendous upside potential.
Overview – This long standing, well established and highly regarded adult and pediatric practice that has served its community for over 35 years is available for sale. The practice is well known and works with a variety of patients including those with neurological, orthopedic and developmental conditions. Referrals are from word of mouth as well as the three regional corporate hospitals in the area. In addition to providing services in the clinic, the practice has an ongoing contract with a county public health service to provide home visits, and a contract to provide services at a local school.
The practice is currently credentialed with most insurance companies including Medicare, Blue Cross Blue Shield, Medica, U-Care, Minnesota Care, Medical Assistance, the VA and several regional Worker’s compensation carriers. They also accepts private pay. Typically the practice averages approximately 50 plus productive visits per week and gets six new referrals per week. In addition to the practice owner, there is a long time physical therapist and office administrator, all eager to stay under new ownership. There is a real need for Occupational Therapy in the area, so the growth potential for this to become a multidisciplinary practice is huge.
Facilities and Location – The practice is housed in a 3000 square foot stand alone building owned by the practice owner. It is fully ADA compliant, includes ample parking and a porte cochere for easy ingress. The facility has a pediatric and an adult gym, separate treatment rooms, 2 bathrooms, a laundry room and staff and administrative offices. It is a turnkey operation with full therapy equipment including but not limited to a big mat table, two standard treatment tables and three high-low electric tables. There are parallel bars, a set of stairs, treadmill, stationary bike and an upper body ergometer, two ultrasound machines, an e-stim machine with Russian stim, microcurrent, and interferential current settings, 2 iontophoresis units, a Saunders traction machine, hydrocollator hotpack unit, and two biofeedback machines. Additionally, there is an assortment of pediatric equipment. Ideally the practice owner would like to sell the real estate and the practice to the same individual or group, but would consider a lease or a lease with an option to buy.
Financial Information: Full financial information including but not limited to profit and loss statements, balance sheets, and tax returns for the last two plus years are available for inspection. The gross revenue for the practice prior to COVID was over $250,000. 2021 revenue was over $185,000.
Growth Opportunities: There are numerous opportunities for growth for this practice including adding Occupational Therapy services and growing the home health and school contracts. The area where the practice is located is a highly desirable, growing community both for vacationers and full time residents.
Offering Terms: The practice is being offered at $100,000 with reasonable terms accepted. The real estate is being offered separately at $275,000.00 . Full details about the real estate including a term sheet, taxes, floor plans, pictures, etc. are available. Ideally the owner would like to see one person make both acquisitions.
Serious inquiries from qualified buyers, please contact. Iris Kimberg, MS PT OTR on behalf of the owner. at: firstname.lastname@example.org.