Medical / Telemedicine Practice in Southwest Florida
Off-MarketLaBelle, FL
Medical Practice
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$550,000
$250,000
45.5%
1993
30+ Days
Customers
Patients over the age of 5. Majority are middle aged and older. Specialties are: general family practice, medical weight loss, and hormone replacement therapy. The practice currently sees around 15 patients per day, with only 1-3 of those being in-person visits, as most patients now prefer the telemedicine option.
Customer Acquisition
Used to sponsor Fox News Radio in the area, but no longer does marketing.
Team
3 employees: one who works front office, one who works back office, and an office manager (owner's wife).
Owner's Role
The owner is the sole medical practitioner and works with all of the patients.
Reason for Selling
The owner is selling the business because he is 69 years old and ready to retire.
Contracts
No
Real Estate
The practice used to have multiple locations but has now consolidated to a single brick-and-mortar location, currently listed for $850K, with around 90% of the services being provided through telemedicine. Open to including it in the sale, though the owner believes it is no longer necessary as they are moving to a fully remote telehealth practice, with 90% of their patients already being remote.
When Are You Looking to Sell
ASAP
Licenses Required
Yes
Additional Notes
The practice has seen a decline in revenue from around $800,000 to $550,000 annually due to the impact of a hurricane and patients moving away. This decline is attributed to the hurricane that hit the area almost two years ago, which caused the practice to lose around 35% of its patient base. Many of the displaced patients have since established care with local physicians in the areas they relocated to, primarily in Tennessee.
Business ID: 1317
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