There is no doubt during this period of time, the current challenge faced by Canadian dentists has never been seen. However, once the doors do re-open, people will continue to require treatment. Healthcare has always proven its ability to rebound economic crisis.
Positive material changes to this practice have arisen since it first went to the market and as such, we are re-launching this opportunity.
This well-established practice continues to receive revenue from services provided before March 15th and has been seeing emergency patients according to guidelines set out by RCDSO since the mandated closure. While this practice is an assignment one, the collection policy is temporarily operating as a non-assignment office. This ensures no accounts receivable will be accumulated in this extraordinary period.
The practice originally started 41 years ago and was purchased by our vendor in 2010. In 2014, the vendor moved it to the present location which is in a highly visible and well-trafficked location. The premises are owner occupied and also available for sale, eliminating the danger of demolition clause or a restrictive lease.
The practice provides patients with a full spectrum of general and specialty treatment. It is equipped with the all the modern technology a dentist would desire. The patient base of 1,107 continues to grow by welcoming an excellent 31 new patients per month. 85% of the patients have good quality insurance.
Our client wishes to sell in order to pursue a speciality program that may start in the Fall of 2020. Due to the circumstances, this may be deferred which means the owner is available for a longer period than originally planned.
To add to this compelling listing, the condo unit is also available for sale. A seldom seen opportunity to own a retail, ground floor space. This triple-A location offers significant walking and driving traffic daily. There are several retail neighbours who contribute to the 1,000’s of people visiting daily to this location. It is available for sale with an asking price of $2,100,000 based upon an appraisal. Purchase the practice and building as a package and build equity in both – what a golden opportunity!
Highlights of this Practice Include:
- Principal dentist, 2 General Associates + 2 specialists with written agreements
- State of the art facility
- Owned premises of 2300 square feet
- 5 operatories
- 31 new patients per month with 85% insurance coverage
- Located close to major highways for commuting
- Growing practice in an ideal community
- All associates and staff are on contracts
- Owner willing to transition
Additional Purchaser/Advisor Information:
- A Virtual Tour will be provided to pre-qualified purchasers prior to the webinar
- A Webinar will be held on Sunday, April 5th, 2020 @ 11AM
- The Appraisal will be distributed after the webinar to interested and qualified parties
- Conditional offers must be submitted on or before Friday, April 17th, 2020
- Your offer will be made fully conditional upon a site visit and inspection – and we will arrange for entry when safe to do so. Please be flexible.
- Offers should be accompanied by a certified cheque payable to “ROI Corporation IN TRUST” equal to 10% of the offered price for the practice
- ROI Corporation will prepare all offers on our standard forms for your lawyer’s review
For additional information, please contact Jackie Joachim, COO & Sales Representative.