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Sale Structure: Asset Sale
St. John's, NL
Our client is a retiring dentist who wishes to transition their patients to a like-minded successor! Currently, two operatories are utilized, but there is capacity to scale. In its current configuration, the dental suite is shared with two other practitioners, each of whom have their own operatories but share common areas such as the laboratory, reception, business area, staff room, private office and so on.
One of these other two dentists expects to be retiring within the next couple of years as well, so an opportunity to also purchase that practice may present itself – thereby allowing for an easy consolidation and instant expansion within the same building.
The practice is long established. Located on a busy thoroughfare, it has been comfortably producing $250-$300k in revenues for several years, on a four day week. A full time dedicated hygienist works one day per week for this practice (7 ¾ hours), while other hygiene time (~31 hours per week) is shared between the three dentist cost share tenants (with these revenues going into a separate corporate entity). This revenue stream and the assets owned by this separate entity have not been appraised here, but could also be available for purchase if the situation is favorable.
Our client wishes to retire by December 2017 and will only consider an associateship with a new owner in extenuating circumstances.
Please contact Dr. Jeff Williams for more information.