Ref# 4740
GTA West
A successful practice is the reflection of an owner’s dedication to patient care, hard work, determination, and the desire to always be improving. ROI Corporation is exceptionally proud to have the privilege of representing such an owner. Our latest listing encompasses a highly successful dental practice that has served the community for over 30 years. Our client has decided the time for retirement has come and therefore, is prepared to hand over the reins to a new owner. A transition will be provided to ensure the purchaser continues to benefit from the efforts of the vendor.
The real estate is also for sale, making this a significant investment on the part of the buyer. As this total offering is in excess of $6 million, we must ensure our client’s privacy by spending time pre-qualifying interested parties.
The practice is well connected via major arterial roadways, proximity to highways, GO stations and several bus routes, thus making it extremely easy for patients & staff to attend. Offering excellent visibility, the office’s signage provides easy marketing to the surrounding residential area. The area has seen many new developments in recent years, increasing the population density as well as potential new patients.
The practice originally began in 1989 and then moved to its current location in 2002. The office is fitted with 8 operatories, 5 of which are fully equipped, with plenty of room to expand. The massive 4,000+ sq. ft. footprint of the building provides ample opportunity to further develop the facility. The upstairs contains a spacious reception area, business office, manager’s office, consult room, admin office and private office. The sterilization area is centrally located on the main floor and fully compliant with all IPAC protocols. Downstairs boasts an in-house lab, large staff room, ample storage, and more opportunity to further customize the space. There are also 4 washrooms – one for patients on the main floor, 2 staff washrooms downstairs and one in the private office for the owner. Our client owns the real estate and wishes to sell it with the practice. A property appraisal is in progress, but the anticipated value will be in the range of $2.8 to $3 million. A new owner will never have to deal with a landlord, demolition, or increasing rent. This will be an asset that will continue to appreciate.
The dental office has one dentist and an exceptional hygiene program, accounting for 43% of total production. Approximately 15 total outbound referrals are made monthly for ortho, implants, surgeries, and pediatrics. The traditional hours reflect a well-established owner totaling 37 hours per week. Our vendor does not work Fridays or Saturdays, and given the residential neighborhood, hours can easily be expanded. A team of 3 hygienists offer 74 hours weekly of treatment. In the last 12 months, almost 2,000 patients were seen, and the practice averages 15 new patients per month. Marketing efforts are nominal, which is usually the case for these well-established, multi-generational offices. All inbound referrals come from current patients.
The patients are a mix of ages and cultural backgrounds, and the majority live or work in the area. It is an assignment office, with 80% of patients having comprehensive insurance, and there are no social service patients in this office. Accounts receivable are nominal with less than $6K over 90 days, showing the strength of the business operations. The team members are skillful, devoted and all have a written agreement with the practice.
Highlights of this practice include:
- Building also available for sale
- Approx. 15 cases referred out each month
- Very low accounts receivables
- Approx. 15 new patients per month – referrals
- No providers work on Fridays or Saturdays
- ~4,700 square foot facility with 5 fully equipped operatories
- Well documented protocols for practice management, sterilization, health and safety, human resources, COVID protocols, etc.
CRITICAL DATES:
- A practice profile and virtual tour will be available upon request
- An information booklet will only be provided to pre-qualified purchasers
- It is recommended that 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