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Pediatric Practice For Sale - Chicago (South Side)

Description: This physician specializes in pediatric care and adolescent care.  He sees patients between 0 months and 18 years of age. 

Professional office located along busy urban thoroughfare and part of a hospital campus.  The clinic consists of 3 examination rooms, physician's office, managerís office, chart storage, refrigerator for vaccines, front desk and billing areas.  An electronic health record system (E-Health Line) is in place and links with hospital for lab work.  Staff is trained on the software. 

Parking and bus routes are convenient to the office.  The office is located in a professional medical building.  The space consists of 1,800 square feet.  Lease expiration date is December 31, 2017.  The space is owned by the hospital and the lease payment includes all utilities.  The lease is transferrable to a new owner upon landlord approval.
Practice/Business Type: Primary Care>Pediatrics
Opportunity Type: Practice For Sale
Region: North America
Country: UNITED STATES
State: IL
City: Chicago

Location Type: Urban
Property Type: Professional Office Bldg.
FT Doctors: 1
PT Doctors: 0
Support Staff: 3
Exams/Ops/Lanes: 3
Facility Size: 1800 Sq Ft
Seller Assist: Seller can assist buyer with transition
Seller Work: Seller willing to work in practice after closing at buyer discretion

Legal Name: Confidential
Confidential
Chicago, IL Confidential
Year Biz Established: 18
Entity Type: S Corp
Web Site: http://Confidential
Broker Contact OK: Y
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Biz Asking Price:    159,900     
A/R Amount:    0    Included in asking Price: N
FF&E Amount:    15,000    Included in asking Price: Y
Inventory Amount:    8,000    Included in asking Price: Y
 
Gross Income Current
312,929
Prev Yr1
356,204
Prev Yr2
384,988
Prev Yr3
381,022
Seller Discretionary Earnings Current
113,946
Prev Yr1
163,710
Prev Yr2
172,379
Prev Yr3
179,751
History: The practice was started in 1999 and has been located in the current location since 1999.  The physician specializes in Pediatric and Adolescent Medicine. 
Growth Potential: The clinic receives new patients by assignment through various Medicaid plans.  Because of the difficulties with the payment to Medicaid from the State of Illinois, a number of providers have left the program.  This will ultimately result in an increased number of patients being assigned to this clinic for care.
Reason For Selling: Owner wishes to retire.  Will stay on at buyer discretion for smooth transition.
Other Remarks: This practice realizes the majority of its current and new patient flow due to referral to the clinic, population density in the primary catchment area and participation in Medicaid plans.  Patients are assigned to the clinic through various Medicaid, managed care organizations and commercial insurance plans.

Revenues have been affected by the State of Illinois budgetary and financial turmoil.  The situation has been resolved and resulting Medicare income is expected to increase.

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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