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Addiction medicine practice for sale
Description: This practice is an outpatient addiction treatment clinic located in east central Ohio.  The clinic is focused in opioid and alcohol addictions and performs services to include counseling, medication assisted therapy and interpersonal skills training.

The owners are board certified addictionists through the American Board of Addiction Medicine.  Both physicians maintain full-time practices in other specialties apart from their duties in this clinic.  The clinic is run on a cash only basis, eliminating the operating costs for collecting accounts receivable.

Services include professional and confidential outpatient therapy for opioid and alcohol related disorders.  Therapy is delivered through a combination of independent and group counseling, family intervention and managed medication. Specialized certification in addictions counseling is required. Treatment is done through the use of Vivitrol © for alcohol and opiates and buprenorphine (Suboxone ©)for opiates.

The clinic averaged 366 patient visits over the last 12-month period.  The most recent 6 months averaged 401 visits per month.

The clinic is located in a professional office building located in a suburb professional neighborhood.  The 2,200-square foot office consists of 4 examination rooms, 4 consultation rooms and 1 room for treatment.  The space also includes a physician’s office, nurse's station and lab area.  Spacious waiting area contains 19 chairs.  The office was last remodeled in 2016 with extensive upgrades in lighting, alarm/cameras and upgraded wiring for electric data.

The seller owns the property and is willing to act as landlord in this transaction.  The seller is offering a 5-year renewable lease with 2% escalation every two years.  Initial lease is a triple net at $2,500.67 per month.  CAM charges are $1,231.00 per month. 




Practice/Business Type: Mental Health>Substance Abuse
Opportunity Type: Practice For Sale
Region: North America
Country: UNITED STATES
State: OH
City: Suburb of metropolitan area

Location Type: Suburban
Property Type: Professional Office Bldg.
FT Doctors: 0
PT Doctors: 2
Support Staff: 5
Exams/Ops/Lanes: 5
Facility Size: 2200 Sq Ft
Seller Assist: Seller can assist buyer with transition

Suburb of metropolitan area, OH Confidential
Year Biz Established: 2012
Entity Type: S Corp
Broker Contact OK: Y
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Biz Asking Price:    495,000     
A/R Amount:    0    Included in asking Price: Y
FF&E Amount:    10,000    Included in asking Price: Y
Inventory Amount:    30,000    Included in asking Price: Y
 
Gross Income Current
787,143
Prev Yr1
908,901
Prev Yr2
584,932
Prev Yr3
243,787
Seller Discretionary Earnings Current
257,380
Prev Yr1
441,784
Prev Yr2
261,634
Prev Yr3
113,457
History: The practice was started in 2012.  The practice was moved from a smaller office to the current location in August 2016. 
Growth Potential: Subsequent to passage of the Comprehensive Addiction and Recovery Act (CARA) physicians with proper certification can now see up to 275 patient visits per month (pvpm).  With is change in limits, the growth potential for this clinic is expected without the addition of additional fixed costs.

Demand for substance abuse services has increased, despite efforts by health and government agencies to reduce substance abuse. Clinical advances in treatment and a greater acceptance of substance abuse as a disease have resulted in increased public awareness and a willingness by abusers to seek treatment. Most managed health care plans have some sort of substance abuse coverage, and many corporations provide substance abuse information to employees and offer drug counseling and assistance programs

Reason For Selling: Owners wish to retire.
Other Remarks: The revenue decline in 2016 is due to a combination of annualization estimate and a change in professional providers from 4 to 3 between 2015 and 2016.  In 2015, each of the 4 physicians had a 100pvpm Buprenorphine limit.  The loss of one provider reduced patient volume by 100 visits per month.  At this time, one owner is now certified to provide up to 275 pvpm with the second owner achieving that status in July 2017.  A third physician has a 100 pvpm limit. The increase patient visit per month limits will allow for patient visit growth to continually improve over the coming fiscal year.

Agent Profile

Medical Practice Brokers, Inc.
Terry Flanagan
7740 Foresthill Lane
Palos Heights, IL 60463
1-877-988-0911
Fax: 708-361-3220
terry@practicebrokers.com
www.practicebrokers.com

More listings from this agent

Terry Flanagan is our Medical Practice Sales Group affiliate in the Midwest region.

PROFESSIONAL EXPERIENCE

Terry was in practice as a chiropractor for twenty-five years.  During that period he has practiced as a solo practitioner, as a clinic director and as a primary care physician in a multi-specialty medical clinic.  His experience and knowledge of various physician operating structures provides both buyers and sellers with the insight necessary to attain their personal goals. He holds the prestigous Certified Business Intermediary (CBI) designation through the International Business Brokers Association.

Terry is also the owner of Circumference Valuations (www.CircumferenceValuations.com), a valuation company providing financial appraisals for professional practices and small to middle market companies.  Terry has taken extensive valuation training through the American Society of Appraisers (ASA), National Association of Certified Valuation Analysts (NACVA) and the Institute of Business Appraisers (IBA).  He is an accredited valuation analyst (AVA) through NACVA and is a Certified Business Appraiser (CBA) through the IBA.  He has extensive expertise in the valuation, negotiation and sales of professional practices.

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