Internal Medicine Practice – In office and Telemedecine
Price: $4,250,000
Annual Revenue: $1,475,000
Net Cash Flow: $1,070,000
Industry: Health Care
Location: Hartford, Connecticut
Business Highlights: First time for sale – after more than 30 years the Physician is preparing to retire. A well-established Practice – General/Internal Medical in a prime location. The current active patient base is between 2,000 and 3,000 annually with approximately 85 daily visits. The office is open 4 days a week with about 50 in-facility and 35 Tele Med appointments during hours. The practice is at full capacity, turning away 20+ new patients weekly. The Doctor has not taken on new patients in the last 3 years. The Practice has diverse age demographics, serving 20% of clients ages 18-30, 45% between the ages of 30 – 65, and 35% who are 65+ years. MD is willing to stay for 2-3 years to facilitate an orderly transition.
Ownership Requirements: MD License in CT
Staff: The Owner – MD – Internal Medicine; and three (3) administrative staff.
Equipment/Inventory: Minimal (OFFICE FFE around $40,000) – Office build-out and recent renovations estimated at $100,000.
*** Financials estimated for 2024
Listing Details
FFE: $40,000 (Included in Price)
Real Estate: $1,200,000 (Included in Price)
Reason For Sale:
The owner is preparing to retire.
Operation
Employees: 3
Location
Type of Location: Brick Professional Building
Square Footage: 3398
Facilities Information:
Located in a desirable neighborhood of an affluent suburb. The building consists of 2 units and is owned by the seller. The MD practice occupies about 50% of the building- NNN; a long-term tenant rents 50% - NNN.
Summary
Potential Growth:
This practice is in a great location and presently turning away 20+ potential patients weekly. The new owner could hire APRNs to support the MD at the practice and handle routine patient visits, physicals, and medication administration. The practice could add additional hours to the schedule.