Medical/Dental Clinic – Mississauga – Ideally sold in tandem with Ref# 4896, the affiliated Medical Clinic.
This is not your usual listing and will not last. It is a once in a lifetime opportunity to acquire a clinic in one of the fastest growing and most desirable neighbourhoods in the GTA. Situated in the hottest area of Mississauga, the Square One area, this is the rare opportunity to acquire a high demand medical clinic and an affiliated, fast growing dental practice in an adjoining physical space.
The neighbourhood is booming with new high-rise developments and the expanding population needs medical and dental services. The medical clinic consists of walk-in and family practice and employs 7 physicians working in 10 examination rooms. The clinic sees over 4500 patient visits per month and a cardiology clinic is about to be added. Further, the clinic is large enough to be able to offer other high demand medical services such as Botox, aesthetics, audiology etc. Total revenue from the medical clinic is trending to be upwards of $3.0 million for the fiscal year ending July 31, 2023. This is exceptional, considering the clinic opened only in November 2020.
The dental practice consists of 7 operatories in 1,430 sq. ft. It opened in 2019 and in only 3 ½ years it has grown to 1,700 active patients and production of $85,000 per month, with many procedures still being referred out. There is one full-time associate and one part-time, plus 4 hygienists. All staff and associates are on written agreements. The owner does not work in the practice. The medical clinic feeds the growth of the dental practice so very little external marketing has been utilized. The addition of a marketing program would serve to further increase the activity in the dental practice but as the medical clinic continues to grow, so will the dental practice.
The medical clinic has an appraised value of $980,000. The dental practice has been appraised for $1,595,640. Ideally, the vendor would like to sell both practices to a single purchaser but would consider selling them separately. You do not have to be a medical doctor to own a medical clinic and while the current owner is not an MD, he is willing to make himself available on a consulting basis to ensure a smooth transition for a new owner.