Regional NSW clinic (DWS + RRMA 5) - accredited + established!
Riverina businesses for sale
Professional businesses for sale
Medical businesses for sale, Riverina
Refer to Broker
About this business for saleRegional NSW clinic (DWS + RRMA 5) - accredited + established!
- practice with $550-650K per year profit, and growing
- 4 more doctors being recruited
- plenty of room for expansion, including specialist suites and/or day surgery
- looking to go to mkt at around $2.0m (x3+ profit) with the freehold available at $870,000
Current owner’s motivation to sell is to spend extra time with their family of 4 children who are all enrolled in catholic health care schools in Sydney. Husband is the VR GP (with 2x additional fellowships) and accredited GP trainer who works full time in the practice. He is looking to reduce his clinical time and would be happy to remain on in a Clinical lead/consultant type role. He is also a computer programme designer and is interested in creating pt file sharing platforms for storage in the cloud. The wife is a registered nurse + midwife, who undertakes all of hte HR recruiting and immigration processes to on-board additional OTD's for the clinic. They are bringing on another 3x OTD (60/4%) with a view to them having to have supervision for another 12 months before they are eligible for registration as a specialist GP after completing their exams and passing. One of the GPs will have a PESCI in Nov so will start in early 2018. Other applicants are yet to have their PESCI's booked in so will start a little later next yr.
They pay their GP's 60-65% of the fee split, with the majority of the work being bulk billing and the mine PEM's/Occ health and corporate medicine etc being privately billed. The practice offers 'flu clinics at work places so is often sending staff offsite to inoculate a whole workforce. There are a lot of the nearby residents working at the copper mine; in addition, this regional township is the centre of NSW logistics hub for the lines that run b/w Sydney and Perth as well as for the line that runs from Brisbane to Melbourne. As a result, all of the GP's are trained and qualified to provide rail medicals. The drug testing on-site is also provided to the workers locally the staff from this clinic. They have currently 3x non- VR GP's working towards Fellowship however, they are able to bill at the A1 rate due to the location.
These business owners are very proactive in up-skilling their staff and providing a great customer experience with a view to attracting as many patients as possible. Waiting times are generally less than 10 mins for most patients. They started the practice 5 years ago and were busy and booked out from their first week. Their office staff are trained in first aid and currently 2 of their 6 nurses are completing a Certificate IV quantification. This practice has been accredited most recently in 2016 so will need to have this undertaken again in 2019. There is ongoing compliance required to maintain this which the staff and management undertake together. The culture of the clinic is one of mutual respect as each group of professionals realizes that they all play a part in the patient care and that one is not more important than the other. As a result, they are highly regarded in the community as recognized by their patient base of 10,000 active pts.
This location is fairly low socioeconomic with the result that they are the 9th fattest community in Australia. As a result, there is a lot of CDM and diabetes in the community. The majority of their patients come from the agricultural sector and about 10% are from the mines.
Currently there are plans underway to increase the size of the MC by adding an additional 4 CR's which will take the total up to 9x rooms. They have a 2x bed tx rm, with Laverty path onsite too. The practice is close to the main road and the hospital and patients can park in any one of 4x car-parks and walk to the practice. They are close to both Coles and Woolies and are a busy practice. There are 2x pharmacies nearby as well as a dentist and imaging site; although no radiologist in town. There are 4x optometrists nearby with onsite osteopath and dietician.
The business hrs are currently business hours and half a day on Sat, so there is the opportunity to increase these hours now with the additional drs joining and they are looking to open from 8am to 8pm. Also, with the additional 2x units that are available for purchase upstairs, they are considering creating a combination of visiting specialist rooms, allied health rooms and potentially a day surgery so there are certainly growth opportunities at this practice. They are currently billing about $2.1M in gross t/o and are looking to increase to around $2.5M with the additional GPs. With a wide range of pts from the community and the mines, this practice doesn't rely on just one income stream, making it more attractive to buyers from a risk perspective. They are also looking to incorporate home visits, and residential care facilities too as well as looking at the option of making 1/3 of the ground floor into an after hrs medical deputizing clinic.
The equipment includes all furniture and fittings, including fitted kitchen staff and recreation area, computer server/IT system, 11 x work stations, 2 x multifunction centres (1 colour), 6x Multi-tray printers, ABI machine with IPad, ECG, Spirometer, Defibrillator, Cardiac monitor, Vaccination fridge, Cryotherapy storage container with 4 x cryotherapy units, 8 x electric examination beds, Resuscitation Trolley, 3 x TV sets, 2 x foetal dopplers, 4 x dermascopes, 6 x Sphygmos, 6 x Welch Allyn macroview otoscopes, 6 x Welch Allyn otoscopes. Note: the purchase of the Pico laser is subject to negotiation.
- Leases: The Laverty lease has an agreed figure of $50K pa but has just lapsed so now they are considering offering this opportunity to Sonic Healthcare. Last year the pathology through Laverty was 20,776 items with 6,128 referrals from 3.5 FTE GPs.
- Staff:- Admin mngr -1x, Reception, cas x2, Nursing, EN, cas x2, Nursing, RN x3 (2x cas + 1x perm)
- Drs:- 4.5 FTE GPs with more starting before the end of 2017
- Visiting Doctors:- gen surg, 1 clinic per month + Gynaecologist, 1 clinic per month
- Allied health: -sleep solutions, hearing, dietician, osteopath
Both Dr Rahmati and the owner are both eligible to supervise. There are 2 x Level 3 doctors whom only require telephone support practice currently at the clinic. The new doctors that are coming on board have already done their AMC clinical examinations, so they only need 12 months of clinical experience then they can get their general registration and no longer need any supervision. It is likely that when they complete their PESCI assessment, they will be assessed as Level 2 or 3, and not need direct supervision. In the case of Level 2, they may require access to a generally registered doctor at least, which there are 2x of at the practice, including Dr Shrestha. This would only be for 2-3 months before they moved to level 3, whereby the remote supervision would remain an option.
The FY17 returns haven't been done. I have the real financial raw data via reports previously supplied.
The shop is owned by the vendors. It is 95m2. The owners take drawings as needed. For the purpose of the figures, the GP owner has quoted my facility fees as 35% in the Zoho (cloud) report. Other than recruiting (ending with the recruitment of 3 new doctors), the wife has no ongoing role in the management of the practice. The practice management is taken care of by the admin manager/senior receptionist. The owner completes pays/accounts, this will be taken over centrally by a potential purchaser.
- 01Nov16-31Oct17: $2.16m
- 01Nov15-31Oct16: $1.86m
- 01Nov14-31Oct15: $1.43m
SWPE as assessed to 30/9/16 was 2839. We are registered for ePIP, Aboriginal Health and basic AH PIP. There are large revenues from ATSI PIPs. We have 725 registered aboriginal patients, with PIP payments for each CTG registration, and Tier 1 /Tier 2 payments, 10987's, as well as annual health assessments ($212.25 every 9 months). We are also registered for DM/Asthma/Pap SIPS.
Revenue ex GST over last 1 yr of trading is $2.14m ex-GST. I just ran a report from 1/10/16-30/9/17 off Best Practice.
- SS, FRACGP/FACRRM, 65%, FT (owner)
- KS, Gen Regn, 65%, FT
- UB, Level 4 regn, 65%, FT
- MK, Level 4 regn, 60%, FT
- AR, VR/FRACGP, 70%, 1 day per week, also registered as AHPRA supervisor
3 x drs pending (all sitting PESCI this year), Prov Regn (have AMC MCQ & Clinical), commencing Level 1-3, 60%, automatic gen regn after 1-yr supervision. After 2-3 months they should move off Level 1 (on-site supervision), and only require phone contact supervision. They all have signed contracts
To enquire on this business visit www.linkbusiness.com.au/NSW08058 and click on "enquire now"
For full details contact Sally Stuart on email@example.com or on 0437 082 045.
Note: 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.