This Company was established in 1988 and provides IT, cloud services, system integrations, and workflow re-engineering solutions to medical practices with a focus on offices with 1-20 physicians. Turnkey operations include the purchase and installation of enterprise or cloud-based software, application training, and technical support designed to automate patient accounting (billing) and electronic medical record (EMR) security and compliance (HIPAA) functions. Recurring revenues account for over 75% of the total income in 2022.This Company may be of particular interest to a current managed service provider (MSP) looking to expand into higher margin services offered by adding vertical market capabilities to medical/healthcare practices.
- Asking Price:
- $1,320,000 Furniture / Fixtures included
- Sales Revenue:
- Cash Flow:
- Real Estate:
- Premises Details:
Presently, the Owner has leased office space through October 2024 but, since Covid-19, all personnel have been working remotely (planned indefinitely). The Owner does not feel that office space is necessary to run the company and is willing to assume the lease for the remaining period.
- Expansion Potential:
Medical IT is a fast growing field and evolving. Requirements to comply with increasingly tightening government regulations (MIPS), along with a desire to move IT infrastructure from on-premise to safer, reliable, and more affordable cloud infrastructure, serve as a favorable macro-trends for expansion. The need for migration, hosting, and security services is substantial. Areas for growth: Cloud Services; Cybersecurity (protection of personal health information (PHI) required by HIPAA and safeguard against cyber-criminals attempting to steal data and extort practices); Billing and Credentialing Services; and strategic acquisition of other dealers to increase client base and expand geographical areas of distribution.
- Competition / Market:
Standard industry competition with competing products, dealers and alternative product manufacturers and distributors.
- Reasons for selling:
The Owner is interested in looking for new challenges and opportunities.
- Trading hours:
- 4 FT
- Years established:
- Support & training:
Will train for 8 weeks @ $0 cost.
- Financing available:
Lender pre-screened with $132K down.
- Furniture / Fixtures value:
- $12,999 - included in the asking price
- This business can be relocated.