The owner will be having his 70th birthday next April and wishes to sell this business that he is currently running under management. He is working minimally at this clinic, only doing some workers compensation work as and when required. With 2x F/T GP's there who will all remain plus another Dr doing locum cover and relief, this business could be purchased by another dr wishing to start billing there or by an entrepreneur as no current requirements to work there. Ideally, if a GP did purchase this, they'd be able to cover for the husband and wife team for when they take their leave together. The husband and wife GP team are on contract until 2020, both F/T with the husband still going through Fellowship exams. The female is VR however, not yet an accredited trainer with the college. They were both on employment contracts basis due to the 457 restrictions however, will both transition from 62.5% to a 70/30 fee split as subcontractors. This will be changed in the new 2018-2019 financial year so that the owner of the business stops paying so much payroll tax; therefore, increasing the profitability of the business.
They have pathology onsite paying $26K in rent (DHM), and the clinic is accredited (with AGPT til the end of 2019) so gets all of the government incentives. They are also an accredited teaching practice. They have 2x nurses assisting the GPs (approx 1.25 FTE) and are mixed billing. They have BB for the pensioners (the only GP clinic in the town that does this) and paediatric pts under 16 yrs of age. The pensioners must pay an annual membership of $37 to the practice to enable them to continue to be seen under the bulk billing arrangements as otherwise it is just not profitable for the practice. In the front unit (and no longer a part of this business) was a dentist and the MC takes up the rear 2x units of the block.
The real profits of this business are about $300K pa. A long-term lease is available as the owner of the business is the daughter of the business owner and she is also keen to sell the freehold for $550K. Alternatively they are keen to offer a long term lease to the new business owner if the new owner doesn't wish to buy the freehold. They are 4 years into the current lease which is a 10 yr lease with a 10-year option.
There is Dept of Immigration approval for this practice to support Drs on a work visa. There are currently 4x consulting rooms here which could be 5 if the accessory treatment rooms was required to become a CR, plus a Treatment room.
Ref# NSW08107
Sally Stuart
Phone: + 61 2 9899 1999
Mobile: +61 437 082 045
Email: sally.stuart@linkbusiness.com.au
To enquire on this business visit www.linkbusiness.com.au/NSW08107 and click on "enquire now"
THE PURCHASER TO MAKE HIS/HER OWN INVESTIGATIONS AND ENQUIRIES IN RELATION TO THE BUSINESS AND NOT TO RELY UPON WARRANTY OR STATEMENT MADE BY THE VENDOR OR BY ANYONE ON HIS/HER BEHALF
