Opportunity to acquire a 40-year, physician-owned primary care practice in Lake City, Florida, paired with a mature concierge membership program that has run alongside it since 2009. Operated by the same physician since 1985, the practice generated $839,739 in 2023 consolidated revenue and $470,154 in Seller's Discretionary Earnings. After funding a full $230,000 replacement physician salary and a $75,000 market lease, Adjusted EBITDA is $222,559, a 26.5% margin.
Two revenue engines run under one trusted brand. The insurance-based practice collected $514,101 in 2023 across a Medicare-anchored panel with BCBS of Florida, Aetna, UnitedHealthcare, and Humana credentialing. The concierge program, operated through a dedicated entity, carries approximately 170 members at roughly $2,000 per year and produced $325,638 in 2023 membership revenue with minimal overhead. Membership revenue has held steady for three consecutive years and is entirely independent of reimbursement policy. There is no comparable concierge offering in Columbia County or the surrounding counties.
The practice runs on eClinicalWorks with integrated claims and clearinghouse billing, card-based membership billing, in-office labs, vaccines and injectables, and full Medicare and commercial credentialing, all of which convey. A tenured four-person team stays in place: a full-time medical assistant, two front desk and concierge billing staff, and a part-time remote billing specialist. The practice also participates in an ACO arrangement, positioning the Medicare panel for value-based revenue as payment models shift.
Highlights:
- $470,154 SDE and $222,559 Adjusted EBITDA on $839,739 of 2023 revenue, built from 36 months of general ledgers and reconciled to the tax returns
- Approximately 170 concierge members generating roughly $330,000 a year in recurring membership revenue, stable across 2021, 2022, and 2023
- Serving Lake City since 1985 under one physician: multigenerational patient relationships and four decades of brand equity
- Medicareanchored payor mix plus BCBSFL, Aetna, UnitedHealthcare, and Humana
- Established medical office on Lake City's primary commercial corridor with a postsale lease in place at $75,000 per year
- eClinicalWorks EMR, integrated billing, and full credentialing convey with the sale
- Owner offers a structured transition of up to one year to hand off patients and members
Growth is largely untouched. The practice has grown on word of mouth alone, so digital marketing and review generation are open levers. Comparable concierge programs price memberships at $2,500 to $4,000 per year, leaving room to grow and reprice the book. Adding a nurse practitioner or physician assistant expands visit capacity beyond a solo physician. Chronic care management, remote monitoring, annual wellness visits, expanded point-of-care testing, and extended hours or telehealth are all available to a buyer who wants them.
The practice suits a physician buyer seeking an established North Florida platform with a recurring membership annuity, a group adding a Lake City location, or a strategic buyer building a value-based primary care footprint. A physician owner-operator steps into $470,000 of SDE; a buyer hiring a physician underwrites the $222,559 of Adjusted EBITDA. Practice name and exact location are disclosed after a signed NDA. Serious inquiries only. Contact us to receive the NDA and, upon execution, the Confidential Investment Memorandum and data room access.
