13/10/2020 | ID: 2852

Central Coast, NSW: Medicine of the Future is for sale in the present! EOI Sought!

Clinicians at this practice are believers in integrative medicine, where the best of conventional and complementary medicine is combined by their highly trained team of doctors and other practitioners. The 5x part time drs specialize in Biomedicine – a branch of medical science that is concerned with a patient’s capacity to tolerate stresses and changes in the environment. 20% of the total income comes into the practice from the drs, which comprise approx 3x FTE.

The majority, approximately 85% of the patients are private patients and only about 15% are bulk billed. The male owner is only working about 15 hrs in the business doing high level business management, plus liaising with the accounts people and supervising the management at the clinic. The female owner is an integrative medicine dr and will be remaining working at the practice as a dr post settlement. Their goal is to no longer to be involved in the management of the business.

There are another 13 staff and contractors at the practice who would love to remain at the practice should the new owners be happy for them to do so. The transition process ideally would be designed such that the culture of the practice be maintained ….which is patient centric with a shared-care approach. For example, if a patient has had a chronic condition and can’t get to the bottom of why their body is reacting the way that it is, they can combine a nurse ad a nutritionist with a dr to provide a 1.5 hr consult with all practitioners with the hope to getting an understanding of the patient’s body and arriving at a solution to improving that person’s health together. This cost is $400 and for the patient, may be an outcome-based approach that they haven’t experienced before.

With more than 4,000 active patients on their data base, there is the option to add additional GP to make the clinic a more balanced practice with both holistic and general practice offerings to the patient who is seeking to get well in a value-based workplace as opposed to being seen in a fast turn-around bulk billing clinic.

The practice principle will stay 6 months to one year with the new owner if required and could extend this if mutually agreed.

With patients seen over the last 17 years, many of the patients will not go elsewhere as they are unable to buy their practitioner only products from the in-house dispensary. The location is ideal too, being only 5 mins from the Gosford Hospital, about 35 mins drive from Hornsby and 45 mins from Pymble.

The vendors would consider a 100% sale or a share sale, vendor finance is not off the table for the right buyers.

The clinic has just undergone another successful accreditation so the new owners would not have to do this again until Feb 2023. Showing 15% growth year-on-year, this practice is set to boom as patients embrace holistic care moving into the future. The building is not for sale and the lease can be transferred or assigned. With a large space available for work shopping ideas, plus a yoga studio, the spaciousness of the clinic will impress any buyer used to be in a small clinic! With 15 car parks for patients at the front of the practice and a couple at the rear for staff, there is still plenty of opportunities for growth here.

Currently this clinic is underutilized with 40% of the space is not currently used…ideal for a buyer looking to add value!

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