DPA+MMM1. Mixed Billing multi dr GP. Newcastle.
Asking price: $600,000
Est circa 90 yrs
Approx 6x FTE GPs – 65/35%
Mixed Billings practice +/- $3.8M pa
ACGP accredited training clinic (1.5 FTE regs at any time)
All Fellowed GPs are independent contractors on current contracts & the regs are employees on 55% + super. Vendor is seeking to sell & retire in the next year after running this practice for 35 yrs! He generated about 30% of the gross, so an ideal buyer is a GP who can take over the vendor’s pts post transition. Now he is wkg 3.5 days a week so the business is less reliant upon his income. During the transition period, vendors days at practice will reduce to 2 days/wk before he completely retires.
The 4-units-in-1 clinic (w/ 9x car parks incl a disabled car bay + 2x lockable garages), is rented w/ 4 yrs remaining + 5 + 5 yrs terms, at $192K pa + GST + on-costs. There is a cash bond in place of about $56K which the incoming owner will have to replace. 1012m2 of space = 7x CR’s, 1x single bed tx rm, staff rm, 2x offices for the F/T PM, 2x FT RN’s (doing tx rm + care plans) w/ an admin team of 8x p/t + cas.
Getting PIPs, WIPs + SIPs, there are 2x accredited trainers so when the vendor retires, there will be 1x.
Located on a bus stop for pt convenience, this clinic is about to become more desirable as a private hospital is currently under construction 100m away; which should complete in 2024.
10 drs – all P/T – get 100% of their income & then are invoiced fortnightly for their 35% fee spit
Drs very stable, some there over 20 yrs
2 regs will be replaced by another 2 in Feb 24
Path elsewhere in the bldg so no income from path
1x p/t dietitian
The current PM is lovely & the business stable
The bldg was purpose build as a MC w/ 2x apartments upstairs. One is used as an office & other was used as a residential unit for $25K pa
Rent is $182,640 pa + GST
Clinic is open every Sat morning w/ 1x GP wkg on a roster for this shift.
The Regs work Mon/Tues/Wed/Thurs + Thurs/Fri – full days.
Level 1 finishes Aug 2024, level 3 remaining & undertaking exams in 2024 + a new defense force reg may be joining soon!
Serious vendor encourages offers!
Sally Stuart
sally.stuart @linkbusiness.com.au