About the Business

Why buy this practice:                                                                

1. Accredited w/ AGPAL (May '22) + ACRRM (Oct 23)
2. Training practice w/ ACRRM + new regs starting Feb '24 
3. Supervising dr/vendor will transition til 30.06.2024 w/ the regs
4. Skin cancer clinic
5. Distance to Newcastle = 40 min, to Sydney Nth Shore = 1h 50 min

Est 2014, this lge, corporate-style practice nr Port Stephens has been supporting Drs to gain Fellowship via the RVTS or FSP. Reason for sale is to reduce travel time to + from Sydney. Vendor will remain 2x days/wk on 70% if required.
• Catchment Popln: 7,500
• Active Pts: 4,415
• Billings: Private; BB for path results & CDM pts
• Breakdown of billings - Private Billing: 45.5%, Medicare: 49.6% & DVA: 3.2%
• T/over: $1.25m
• EBITDA: $250k
• Drs remaining: 6x (no regs currently) = 3.6 FTE's
• Drs fee splits: owner - 2 days/wk @ 70% of billing, Dr 2= 4 d/wk @ 65%, Dr 3= 3 d/w @ 60%, Dr 4=  3 d/w @ 65%, Dr 5 =  2 d/wk @ 60%, Dr 6 = 2 d/wk @ 60%, Dr 7 = 2 days @ 60%
• No# of Skin cancer drs: 2x (on 60-70% for procedural wk)
• Allied Health: 5x - Psychologist, dietitian, podiatry, etc
• Rm rental: Audiologist rents a room on fortnightly basis $200+GST/day
• CRs = 10x
• Path: $100+k pa rent til 2025 w/ annual rent increase under 4%
• No# of tx rms - 2x
• Rent & outgoing: $6k+/month rent + outgoings $700/12)
• Lease: finishes in May 2024, there is a 5-yr option to exercise 'til 2029, rent increase = CPI annually 
• PIPs = $44k pa
• WIPs = $58K pa
• Support team: PM oversees this business & the sister clinic, + 1x F/T reception, 1x F/T trainee, 2x cas nurses covering nursing roster (one nurse/day for 36 hrs/wk) 
• Software: BP, Cubiko & Hotdoc

Note: vendor has cut down staff cost significantly post COVID + their PIP + PNIP have increased by approx 50% this quarter. My-Medicare will bring more incentive to the practice, so, if you delay in purchasing a GP business this year, the EBITDA will be significantly higher at the end of the current fin year.

Online meetings w/ the owner initially preferred. 

Broker: Sally Stuart
M: 0437 082 045
E: sally.stuart@linkbusiness.com.au

THE PURCHASER TO MAKE THEIR OWN INVESTIGATIONS & INQUIRIES IN RELATION TO THE BUSINESS & NOT TO RELY UPON WARRANTY OR STATEMENT MADE BY THE VENDOR OR BY ANYONE ON Their BEHALF

Ref: NSW10817
Ref: NSW10817
Timestamp: 20240422053004