PRACTICE IN CENTRAL VIRGINIA WITH AWESOME OWNER OWNED REAL ESTATE
This single owner practice with two offices has been in existence for well over 25 years and is located in central Virginia. In 2021, the practice had collections of almost $1,600,000. The owner owns the building where the primary office is located and the building will be sold along with the practice.
The primary office is incredible in terms of space and quality. The building is of newer vintage and has over 3000 square feet of usable space. The primary building has five operatories, all of which are fully equipped for surgeries. Each operatory is equipped with monitors, anesthetic delivery system, suction, computers and monitors, and surgical hand pieces. They are all plumbed for oxygen, nitrous and suction. There is also a recovery area with five beds. The secondary rented office, which is around 3,000 square feet, has four operatories and 2 exam rooms. Both offices have cone beams and digital panorex machines. Given the size of the two offices, the practice can easily serve at least two oral surgeons.
The practice’s equipment is in excellent shape. A purchaser will not need to spend much on new equipment or leasehold improvements for years.
The revenue mix is excellent, with very little (under 5 percent) Medicaid and a high percentage of fee for service patients. This is a traditional office based practice with a nice concentration of extractions, implants and other office based procedures. The owner of the practice takes no trauma call.
The owner is willing to stay on for a reasonable time post sale to assist with the transition and, if necessary, to see patients. The staff is experienced and will be a great asset to the purchaser.
The practice has far less competition in the immediate area than one would find in the Northern Virginia or Richmond metro areas. The area is quite affluent given its location outside a major metro area. The current owner has dramatically increased his marketing efforts in the last two years and the new practice owner would have the capacity to increase production by at least 20 percent by continuing the marketing efforts of the current owner.
The referral base is diverse and deep in terms of number of referrals, lack of concentration and the age of the referring dentists. The owner is known by his referrals and the community of providing exceptional patient care. His staff shares his goal of professional excellence.
The practice is located in a family oriented area. Although not located a major metro area, the Washington, D.C. metro area is easily accessible to the owner of this practice in order to take advantage of cultural, sports and entertainment opportunities in Washington, D.C. Given its location in Virginia, the purchaser will have access to all sorts of outdoor activities, such as mountain hiking and water oriented sports. The area has world class universities and cultural opportunities associated with such educational institutions. The owner of the practice will find that the local schools are excellent and there are lots of activities for children. The local community is known for welcoming newcomers.
It is quite rare to find such an outstanding practice in modern space in a smaller metro area that is so attractive in terms of its profitability, its cultural amenities and educational opportunities for families.
Call today if you would like more information about the practice. I look forward to speaking with you. Due to the nature of our business, I am on the phone a lot with candidates and clients. If you call and reach my voicemail, please leave a message. Evening and weekend call times can be arranged with advance notice.
Dr. Larry Jacobson
OMS Exclusively, Inc.