For Sale: General Family Internal Medicine Clinic Practice - West Los Angeles

Description About This Posting: General Family Internal Medicine Clinic Practice

This is a great opportunity to purchase an existing Family/Internal Medicine Practice in the West Los Angeles Area (one mile from Beverly Hills). This practice has a wonderful history that includes a very caring physician who has been at this one location for the past 40 years and to add to this story, this physician purchased the practice from another physician who also had his practice at this location for 40 years. We are now providing an opportunity for an enthusiastic and dynamic physician to take the reins on this very well situated medical practice.

The practice is located in a single-story freestanding building with approximately 2000 square feet of office space that includes three exam rooms, two consultation rooms, a laboratory room, a physical therapy room, a medical records/receptionist area. The lease terms are as follows: $3.00 per square foot on a to be negotiated annual terms listing with a NO triple net agreement (which literally means that you are not responsible for any real estate taxes, building insurance, and maintenance costs). Also, this practice is well situated to a number of hospitals to include the Cedars Sinai Medical Center, the UCLA Medical Center, the Brotman Medical Center and more. This means that if as a physician have hospital privileges at these or other hospitals, you can create or add to your current patient base.

The proximity to a large number of Medicare insured patients in the area is also very appealing with the office having over 2000 patients that this physician treats on an ongoing basis. As a part of the sale, all of the current active patients will be included as a part of the sale.

This physician has two categories of patients that he is treating: 1. Medicare Patients which comprise 40% of his practice and which would be his geriatric population and 2. PPO Insured Patients which encompass 60% of his practice and which would include an age group from 18-100+ years of age. This practice covers a wide array of the area demographics with the predominate demographic population being served being that of the Persian community. It is also noteworthy to state that this clinic does get a lot of calls from HMOs that would like to work with this clinic. Currently, this practice only works with PPOs which include Blue Cross, Health Net, Blue Shield and many more.

This practice is currently generating $500,000 annually in gross receipts and this is with the physician working on a part time basis and with the doctor not aggressively incorporating and or billing for visit related diagnostic tests such as EKGs, Doppler exams, ultrasound exams, and the like. This is an excellent opportunity for a physician and or a physician group to capitalize on having a full-time physician(s) and incorporating diagnostic tests in the office. Furthermore, the physician is not marketing, which provides another spoke for generating new patients.

The motivation for the sale is that the physician is at his retirement age and he is opting to sell his clinic.

This clinic would need to be adapted to a medical practice computer software system (an EMR system) since the current physician is still paper based in nature with his patient's medical records.

This will be stock purchase agreement and as part of the Goodwill, the Seller, will be including all of the existing FFEs (furniture, fixtures, equipment) as a part of the sale.

Parking: There is plenty of free parking in the back of the building and on the side streets where there is two hours of free parking available. And, yes there is a ramp at the front of the building to facilitate your patients who have mobility issues or who require a wheelchair, scooter or the like.

This is a cash sale with no financing options.

Please Note: The seller is responsible for proving the accuracy of any information provided to the buyer's satisfaction. Information contained in this document is provided solely by the seller. No representations or warranties are provided by us, its agents, representatives, or subsidiaries as to the accuracy, completeness or validity of such information. Interested parties are encouraged to seek the counsel of their accountant, attorney and/or other business advisors.

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