Family Medical Practice For Sale – Sydney Inner West

SOLD

Family Medicine Practice for Sale

Business ID: SYD0012

Location: Sydney Inner West

Family Medical Practice For Sale – Sydney Inner West

For Sale is this long established Family General Practice located in the Inner West of Sydney. Positioned in a harbourside location just 10km from the Sydney CBD the founding practitioner is looking to retire and move the practice across to another General Practitioner who is keen to practice Family Medicine and take over their patient base. The practice also has 3 other General Practitioners working on a part time basis and the incumbent owner works 3.5 days a week. There is scope to increase practitioner hours or add another part time GP into the business. There is also a space that is used for Massage Therapy on a part time basis that could potentially be converted to another full time consulting space for a General Practitioner. Current hours of operation are Monday to Friday general business hours so scope exists also for expansion into the weekend. The business is located in a Commercially zoned building within a residential area but close to shops, cafe’s and Pharmacy and allows easy parking for patients. The practice has a focus on time for patients rather than a fast bulk billing model. The current structure is of mixed billing with approximately 70% of patients being bulk billed and 30% of revenue under private billings. The practice does not actively market or seek new patients. In fact, the incumbent Principal has had closed books for the past 10 years and the other staff are similar. There is significant scope to open the books and increase billings with minimal effort. Using Best Practice Software the business has clear and concise financials and statistics and presents as a well run commercial operation. Please note, this business is not suitable for Investors, the sale is geared toward GP’s that are looking to step into the shoes of the incumbent Principal, take over their patient load. A long lease can be provided to the acquirer along with a first right of refusal to purchase the freehold premises in the future should they so choose. Please complete the Confidentiality Agreement below if you would like further information.

Not Suitable For Investors.

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Confidentiality Agreement

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I/We, being the people named in the Schedule set out below, acknowledge that we are prospective Buyers of businesses described in the Schedule and of other businesses of which Medical Business Brokers Pty Ltd and its agents have brought to our attention and in consideration of you and the Seller allowing us to inspect a business profile and other material relating to the businesses and / or the Seller’s agreement and your arrangement on the Seller’s behalf to allow us to inspect the businesses we acknowledge and agree as follows:
1. The business profile and material may include:
(a) Non verified and unaudited trading results and or profit and loss reports, balance sheets, budgets and forecasts
(b) Industry information, costs/expenses, projected trading estimations, sales, marketing and employment details

2. That the profile and its information are to be used and accepted as a guide only. All information contained in it, is our responsibility to verify and confirm, and we agree not to hold Medical Business Brokers Pty Ltd and or its salespersons and authorised personnel responsible for its accuracy, liability, or loss suffered by us in relation to the information contained in the profile.

3. The business profile and material and all things connected and related to this material are Confidential and we agree not to disclose them to any other person except our legal, accounting, financial advisers and bankers but then only on the basis that they have to provide to us their agreement prior to receipt of the material to keep this information confidential unless the Seller’s prior written consent is first had and obtained to disclosure of this material to that party.

4. We acknowledge, that as a result of perusing the business profile and material, and during the course of the inspection of the business we will become aware of information regarding the operation of the business and in particular the marketing of the business which is personal to the seller and which has real financial value to the Seller. We acknowledge that should such information become known to the Seller’s competitors or other parties interested in setting up a similar business in opposition to the Seller or used by ourselves in the operation of a similar business that these actions could cause financial hardship to the Seller and therefore the Seller might seek compensation. Except when particular information is unique to an industry and all like organisations and businesses would under normal operational circumstances become aware of such information do and conduct such business operations in the course of their endeavours.

5. All inspections of the business are to be by appointment, arranged through Medical Business Brokers only, and we agree not to attempt to inspect the business or the premises upon which the business is carried on, or contact the Seller direct other than through and with Medical Business Brokers agents. I/We have been introduced to the business[es] by Medical Business Brokers Pty Ltd and or its personnel.

6. We acknowledge that Medical Business Brokers is the agent for the seller and that all offers, correspondence and deposits are to be transacted through Medical Business Brokers unless specified otherwise in writing.

7. We acknowledge that if we buy directly from the seller or introduce a 3rd party to the seller who subsequently buys an introduced business then we will be liable to pay and agree to pay any commissions or sale fees that Medical Business Brokers may lose as a result of the direct transaction.
- By checking this box, I accept the above terms and conditions of this agreement in full in line with the Section 9 of the Electronic Transactions Act NSW (2000)
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