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Business Valuation
Listing Details
Established Medical Service Provider
Hillsborough County, Florida
- Ad ID: 080110ta
- Type: Medical Service Provider
- Category: Services - Health, Medical & Dental
- Category: Services - Other Miscellaneous Services
Financials
- Asking: Not Disclosed
- Gross: $6,850,000
- Cash Flow: $2,375,000
- Included in the Asking Price: Furniture, Fixtures & Equipment: $150,000
Summary Description
This is an Established and Profitable Niche Service Provider flourishing within the Healthcare Industry. Utilizing its Industry Expertise and Proprietary Software, the company helps Medical Institutions receive compensation for services rendered which otherwise would be written off as uncollectible. The Company is compensated based on a percentage of its collections. Consequently, the Medical Institutions literally look at the collections received as "Found Money."
This Company has a long history of strong financial performance stemming from its excellent reputation within the industry for providing exceptional service both to patients and the Medical Institutions. Over the last several years, ownership has developed a management team capable of running operations turn-key. The organizational structure is now set-up where one person runs the company and reports directly to the founder, allowing for absentee ownership. This is a phenomenal opportunity with a solid foundation to build on that has only been restrained by the current owner's aversion to risk and growth.
The Company's operations feature experienced employees with superior knowledge of the industry, proprietary software which has been developed to streamline operations and improve overall performance, and a management team empowered to effectively run the company. In the last few years, the company has actually reduced the number of employees while maintaining revenue levels, thus improving operational efficiency and profitability. Finally, the company does virtually no marketing and relies exclusively on its reputation and referrals from existing clients. The Company is currently turning down numerous requests for proposals for engagements because the owner does not wish to take on new clients.
General Information
- Year Established: 1996
- Employees: 61
- Facilities: The current leases facilities consisting of offices meeting rooms. Company personnel are also provided office space at their clients' medical centers as contractually required. The rent charged on the lease is deemed to be market rate. All office equipment, furniture and fixtures, and computer proprietary software and equipment are included in the sale of the business. All equipment is suitable for the business.
- Competition: The company currently does virtually no marketing and instead obtains its new business primarily from its excellent reputation and referrals. Calls come in regularly requesting the Company's services because its operations are so efficient that the hospitals realize it's more profitable for them to hire the Company then handle these collections internally.
Market Outlook
- Growth and Expansion: With its lack of marketing focus, the Company has yet to reach anywhere near its full potential as a leader in this evolving, emerging industry. As the government continues to take a more direct role in healthcare, the need for its services will only continue to expand, especially considering the current economic climate. Furthermore, the knowledge and experience the Company has in qualifying patients for benefits and ultimately obtaining these types of collections is not an easy expertise to acquire.
About the Sale
- Financing: Cash At Closing.
- Support/Training: As previously stated, this Company has an Owner who is not involved in the day-to-day operations. That said, Ownership is willing to transition out of the business in a manner to help ensure that the acquirer retains the current referral network and the company's reputation for high-quality work.
- Reason Selling: Overdue Retirement.
Contact Information
Paul Kelly
Trico Ventures
Phone: 727-267-1271
Fax: 866-375-9814
Email: paul@tricoventures.com