Why buy this practice:
1. Accredited w/ AGPAL (May '22)
2. Training practice w/ ACRRM + new regs starting Feb '24 (optionall)
3. Supervising dr/vendor will transition til 30.06.2024 w/ the regs
4. Skin cancer clinic
5. Distance to Newcastle = 40 min, to Sydney Nth Shore = 1h 50 min
Est 2014, this lge, corporate-style practice nr Port Stephens has been supporting Drs to gain Fellowship via the RVTS or FSP. Reason for sale is to reduce travel time to + from Sydney. Vendor will remain 2x days/wk on 70% if required.
- Catchment Popln: 7,500
- Active Pts: 4,415
- Billings: Private; BB for path results & CDM pts
- Breakdown of billings - Private Billing: 45.5%, Medicare: 49.6% & DVA: 3.2%
- T/over: $1.25m
- EBITDA: $250k
- Drs remaining: 6x (no regs currently) = 3.6 FTE's
- Drs fee splits: owner - 2 days/wk @ 70% of billing, Dr 2= 4 d/wk @ 65%, Dr 3= 3 d/w @ 60%, Dr 4= 3 d/w @ 65%, Dr 5 = 2 d/wk @ 60%, Dr 6 = 2 d/wk @ 60%, Dr 7 = 2 days @ 60%
- No# of Skin cancer drs: 2x (on 60-70% for procedural wk)
- Allied Health: 5x - Psychologist, dietitian, podiatry, etc
- Rm rental: Audiologist rents a room on fortnightly basis $200+GST/day
- CRs = 10x
- Path: $100+k pa rent til 2025 w/ annual rent increase under 4%
- No# of tx rms - 2x
- Rent & outgoing: $6k+/month rent + outgoings $700/12)
- Lease: finishes in May 2024, there is a 5-yr option to exercise 'til 2029, rent increase = CPI annually
- PIPs = $44k pa
- WIPs = $58K pa
- Support team: PM oversees this business & the sister clinic, + 1x F/T reception, 1x F/T trainee, 2x cas nurses covering nursing roster (one nurse/day for 36 hrs/wk)
- Software: BP, Cubiko & Hotdoc
Note: vendor has cut down staff cost significancy post COVID + their PIP + PNIP have increased by approx 50% this quarter. My-Medicare will bring more incentive to the practice, so, if you delay in purchasing a GP business this year, the EBITDA will be significantly higher at the end of the current fin year.
Site visits after 15.102023. Online meeting w/ the owner initiall 'til then.
Broker: Sally Stuart
M = 0437 082 045
E = [email protected]
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