Ref# 5150
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. This highly successful dental office has served the community for over 30 years. Our client has decided it is time for retirement from ownership and is prepared to hand over the reins to a new owner. Our client is happy to remain working as an associate but also understands a new owner may want to take over completely. A transition will be provided to ensure the purchaser continues to benefit from the efforts of the vendor. Our client would also prefer to meet with the prospective buyer before accepting the offer when it is presented.
The team consists of 1 dentist, 2 hygienists, 2 level II assistants, 1 receptionist and a treatment co-ordinator/office manager. Annual production is just under $1 million with 50% coming from an exceptional hygiene program. Approximately 15-20 total outbound referrals are made monthly for ortho, implants, surgeries, and pediatrics. The traditional hours reflect a well-established owner totaling 33 hours per week. Our vendor does not work Fridays or Saturdays, and given the residential neighborhood, hours can easily be expanded. 2 hygienists offer 48 hours weekly of treatment. In the last 12 months, over 1000 patients were seen, and the practice averages 9-10 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. The practice is non-assignment. Most patients have comprehensive insurance coverage. The practice follows the current provincial fee guide with the exception of restorative and endodontic treatments, dentures, crowns, bridges, and implants, all of which are 10-15% more. The majority of patients come in every 3-6 months for their recalls. Accounts receivable are nominal, with less than $2K total, showing the strength of the business operations.
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. The office’s signage offers excellent visibility and easy marketing to the surrounding residential area. This well laid out office of 1100 square feet is fitted with 3 fully equipped operatories with room to expand. The sterilization is fully compliant with all IPAC protocols. The current lease has terms and renewals until 2031 with no demolition clause. Additional renewals are available, but our client felt it best to leave this to the successful purchaser.
The team members are skillful and devoted, and all have a written agreement with the practice.
Highlights of this practice include:
- 50% hygiene program
- Approx. 15-20 cases referred out each month
- Very low accounts receivables
- Approx. 9-10 new patients per month – internal referrals
- No providers work on Fridays or Saturdays
- 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.
- A Confidential Open will be held on Sunday, October 20th, by invitation only
- Offers will be due by 7 pm Thursday, November 14th
- It is recommended that 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
- All offers presented will have an irrevocable date of November 25th to enable our client to meet with serious purchasers before selecting an offer to work with.
For more information, please contact Jackie Joachim, Sales Representative & COO, and/or Constance Walker, Sales Representative.