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This triple-location occupational medicine practice in Elkhart, Indiana is the preferred clinic for companies in the area! Services include work-related injuries, DOT physicals, and COVID rapid testing. Established for nearly 15 years, this clinic is independently owned with no hospital affiliation, making them highly desirable to companies large and small in every industry. Offering workers’ compensation healthcare for on-the-job injuries and chronic conditions, as well as COVID rapid testing, this team has staff on duty 24/7 at two of their three locations.
Currently doing 100-150 Covid rapid tests a day
Have overnight hours which is an invaluable asset, as companies save a tremendous amount of money on Emergency Room expenses, making these locations the go-to clinics for injured workers.
Elkhart is known as the “RV Capital of the World,” so there is also an incredibly high demand for DOT Physicals in this region, as 60%-80% of all RV’s globally are manufactured there; drivers of the RV transportation vehicles are required to carry a DOT medical certificate.
Competitive advantage because they bill companies at least 3 times less than hospitals or hospital-affiliated clinics.
Staff includes the owner, who is the Supervising Physician, along with 1 FT Nurse Practitioner, 3 PT Nurse Practitioners, 1 Practice Manager, 1 Office Manager, 9 Medical Assistants, 2 Rad Techs, plus an independent contractor used for marketing. The Practice Manager and Office Manager both help with the day-to-day responsibilities of the business.
There are over 100,000 corporations in the area. Having a plan in place to broadly advertise the new third location has the potential to quadruple their revenue, as they will be the sole provider during the overnight hours in the county. A new owner could certainly bring in more revenue by continuing to publicize the fact that this clinic will bill companies at least 3 times less than hospitals or hospital-affiliated clinics. Priced at $4,350,000, a down payment of $543,750 returns $610,017 in the first year after debt payments – a 112% return on investment!
3 locations in Northern Indiana
Leases: Location 1: 3,500 sq. ft.; Location 2: 2,000 sq. ft.; Location 3: 3,000 sq. ft. (rent-free for 2 years)
Increase awareness in the region of 24/7 business hours, as there is no competition for the overnight hours
Purchase Price: $4,350,000
12.5% Buyer Down Payment $543,750
12.5% Seller Financing or Equity $543,750
75% Bank Loan $3,262,500
A 12.5% down payment of $543,750 returns $610,017 in the first year after debt payments!
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