ROI Corporation is proud to represent this well-established practice. The 4-storey medical professional building, within which this office is located, has been a pillar in the community since the mid-80s. There is a great legacy of quality care, high reputation and generational patients. The current owner has taken great pride to ensure the history and legacy of patients receiving the highest level of care has continued.
Our client started the office in 1986. The space itself, located on the second floor, is shared with a medical doctor. In November of this year, the MD is retiring allowing a new owner of this practice to expand from 3 operatories up to 6. Our client is very pleased to offer a long transition to ensure patients stay with the office.
An associate has been working with the office since 1991. Due to age, the associate is not interested in ownership. There are 2 hygienists who work with the practice, but the doctors also do their own hygiene. This practice is largely a restorative office with our vendor referring out approximately 10 monthly procedures consisting of ortho, oral surgeries, perio and molar endos. Currently, dental hours vary between 35 and 40 hours per week which means more hours can easily be added. The office is closed on Thursdays. There is no formal marketing given the long-time patient base needs fill the schedule the owner is willing to offer at this stage in their career. A handful of new patients per month are the result of existing patient referrals. There is a tremendous opportunity for a new owner to stimulate more referrals internally as well as from other MDs in the building.
There are 1,000 active patients. Patients either live or work within 10km of the practice. All patients speak English but there is a comfort level with the older patients in speaking Mandarin or Cantonese. The practice does not accept assignment, therefore no co-payment issues. At least 50% of the patients have comprehensive insurance. On occasion, our client will give a discount to a loyal patient without insurance. Fees follow ODA fee guide. The office maintains a short call/cancellation list to maximize chair time. Charts are paper while radiographs are digital.
The total space (including area shared with MD) is approximately 2,100 square feet. Our client is responsible for 1,050 square feet for rent. In the dental side of the office, there are 3 well-equipped operatories, business office, staff area, steri and pan. The appropriate modifications to the operatories have been made to comply with COVID safety protocols. Our client follows the RCDSO IPAC standards and has been completing the self-audit checklist regularly. Our client has discussed taking on the MD side of the lease commencing this November. Current lease expires this year however, renewals are available. Our client has exercised the intention to renew but wishes to wait to engage successful purchaser.
The immediate area is a multi-cultural neighborhood rich with history. New construction continues giving this practice more opportunity for growth. The office is situated in a very prominent medical building, with excellent visibility, highly accessible by public transportation and ample parking. Within this medical professional building there are 4 other family dental offices, 1 oral surgery office, and a pediatric office.
Highlights of this practice include:
- Non-assignment practice with virtually no accounts receivable
- Majority of recall patients attend every six months
- The practice has started to make the switch to digital charting; radiographs are fully digital
- No demolition clause
- 3 well laid out operatories, lab, x-ray and sterilization area, private office, business office and staff room
- High density/growth area
- Room to extend hours
- High traffic established neighbourhood with a strong mix of residential, retail, and commercial economic activity
- Excellent location
- Well trained staff – 2 hygienists, 2 receptionists and 3 assistants
- Click here for a preview of the facility
Additional Purchaser/Advisor Information:
- A Practice Profile and Virtual Tour will be provided within 48 hours of your request
- A Wide Open will be held on Sunday, September 18, 2022 from 10:00am to 11:30am
- Appraisal will be available following the Open
- The Offer Request Form must be submitted 48 hours prior to the Offer deadline
- Offers must be submitted on or before September 30, 2022
- ROI Corporation will prepare all offers on our standard forms for your lawyer’s review