Orthopedic And Personal-Injury Medical Practice | Multidisciplinary | 50% Adj. EBITDA Margin

An opportunity to acquire a leading multidisciplinary orthopedic and personal-injury medical practice in Orlando, Florida, with over 40 years of continuous family ownership. The Company operates three fully equipped clinics across Central Florida, delivering vertically integrated care for accident victims – from diagnostics and pain management through advanced spine, extremity, and neurological surgery.

Built on a lien-based revenue model, the practice provides care on a deferred-payment basis tied to legal claim resolution, generating margins that significantly exceed those of traditional insurance-billed practices. All billing, AR, and lien administration are managed in-house, with demand driven by long-standing referral relationships with high-volume PI attorneys across the region.

Key Business Attributes

Three strategically located Central Florida clinics with in-office procedure rooms and integrated diagnostics (EMG/NCV), reducing external referrals and accelerating care delivery. Board-certified orthopedic surgeons, a neurosurgeon, a chiropractic neurologist/electromyographer, and interventional pain professionals all under one roof. Turnkey in-house billing, AR, and lien administration supported by bilingual staff in English, Spanish, Creole, and French. Referral demand underpinned by multi-decade relationships with high-volume PI attorneys across Central Florida.

Investment Highlights

• Strong EBITDA Margins Driven by Disciplined Cost Control: The Company delivered $2.81M in Adjusted EBITDA on $5.62M revenue in 2025 – a 50.0% margin. Profitability reflects sustained operating discipline rather than a one-time event: Adjusted EBITDA margins have held above 42% in each of the last three years, with total operating costs being kept essentially flat even as revenue grew. The result is a lean, scalable cost base that converts incremental revenue into margin.
• Turnkey Operational Infrastructure: Fully integrated platform with procedure rooms, in-house diagnostics (EMG/NCV), bilingual staff, and internal billing. Proven workflows enable rapid scheduling, record delivery, and attorney communication.
• Proven Lien-Based Model with Strong Collections: Established PI lien-based reimbursement model with strong collection performance. Gross-to-net adjustments primarily reflect negotiated settlement reductions, while bad debt write-offs remain minimal.
• Multidisciplinary Team Covering Full Continuum of Care: Board-certified specialists across orthopedics, neurosurgery, pain management, and diagnostics provide comprehensive patient care from evaluation through post-operative treatment.
• Established PI Attorney Referral Network: Growth is anchored by a diversified, long-standing PI attorney referral network with no significant referral-source concentration. Revenue reached a record $5.62M in FY2025, up 15.4% year-over-year and reflecting a 6.2% three-year CAGR.

Operations & Transition

A stable team runs all clinical and administrative functions across three locations. The founding family is exiting after four decades. The outgoing owner commits up to three months post-close at full capacity, and a key administrator is open to a 1–2-year continuation contract. The practice is operationally ready for new ownership on day one.

Ideal Buyer Profiles

Healthcare platforms, physician groups, or MSOs seeking a high-margin PI practice in a growing Sun Belt market. Private equity or search fund targeting a debt-free, asset-light healthcare business with demonstrated margin expansion and a defensible referral moat. Owner-operator or healthcare operator seeking a turnkey platform with 40+ years of brand equity and deeply embedded PI-attorney relationships across Central Florida.