THIS IS NOT AN EARNINGS ACQUISITION. IT IS A PANEL ACQUISITION.
A 30+ year solo-physician family medicine practice in North Central Florida is available. Its principal asset is not its income statement. It is 1,558 Medicare Advantage lives - a concentrated senior panel, managed for chronic disease, in one of the most Medicare-dense counties in the United States.
At the $1,800,000 offering price, that panel transfers at approximately $1,155 per Medicare Advantage life.
For context, ECG Management Consultants - writing for the American Health Law Association - reports that non-health system buyers "might pay up to $12,000 per Medicare Advantage life" for primary care practices, precisely because of the value of managing that population under risk-based contracts. The gap between those two numbers is the opportunity here.
WHY THE GAP EXISTS
Plainly: a retiring solo physician never monetized the panel he built.
- The office is open 32 scheduled hours per week and closes at 3:00 p.m. (noon Fridays).
- It holds NO capitated contracts.
- It joined an Accountable Care Organization (ACO) in 2024 and has taken NO shared savings.
- It has NO website, no online scheduling, no SEO, no advertising, no business cards.
- 2025 revenue was $702,869 with $115,493 of discretionary earnings.
Every one of those is a lever the seller could not pull and a buyer can. Asked to name the biggest bottleneck in the business, the owner answered in three words: "Probably my time."
WHAT YOU ACQUIRE
- 1,558 Medicare Advantage patients. More than half of all patients are 65+; pediatric patients are rare.
- A genuinely comorbid panel: diabetes, hypertension, hyperlipidemia, thyroid disorders, renal failure, CHF, atrial fibrillation, CAD, PAD, fatty liver disease, metabolic syndrome the exact clinical profile that drives riskadjusted revenue in a valuebased model.
- ACO participation already in place, with none of its economics harvested.
- Caremanagement muscle already in the building: the medical assistants already make the chronic care management calls. The hardest thing to buy in a valuebased rollout staff who will actually work a panel between visits is already habit here.
- Six longtenured employees, two with 25+ years of service. Ownership anticipates the team would remain postclose.
- A clean compliance record: no litigation, liens, OIG integrity agreements, program exclusions, HIPAA breaches, or outstanding taxes.
- ~10 new patients per month, arriving on reputation alone. ~4.5star average online.
- Real estate available separately at $675,000 (approx. $218/SF), or lease at $4,650/month NNN.
THE MARKET
Florida is one of only seven states where more than 60% of Medicare beneficiaries are enrolled in Medicare Advantage. The county is among Florida's oldest and fastest-growing: per the U.S. Census Bureau, 29.7% of its 442,660 residents are 65 or older - against 18.0% nationally - and the population has grown 17.8% since 2020.
THE CANDID RISK
The owner is retiring, will not remain post-close, does not plan to practice in the area, and will sign a standard non-compete. In a solo practice that is the central risk in any acquisition, and it is why the panel is priced where it is. What offsets it: chronic-care patients who do not casually relocate their care (some have been with the practice 30 years), a staff expected to stay, a flexible transition, and a $300,000 seller-carryback note that keeps the seller invested in a successful handoff.
TERMS
$1,800,000 offering price. $1,500,000 cash at close; $300,000 seller carryback to a qualified physician buyer, secured by practice assets and personal guaranty. $25,000 minimum earnest money. Accounts receivable excluded. Real estate offered separately.
Presented to qualified, NDA-executed parties only. Contact the broker for the Confidential Information Memorandum.
