no more offers, we're going to contract!

This MC is designed to provide a comfortable & welcoming environment, where the team + pts alike can feel at ease! 

Clinic stats:
* Accredited with AGPAL &  ACRRM for registrar training
* Training practice  new regs start Feb '24
* Current owner will transition for 6-12/12 w/ the regs (neg) + another approved supervisor will stay
* Active Skin cancer clinic: Yes
* Distance to Newcastle Airport, Newcastle; Sydney North Shore : 40 min, 55 min & 2 hrs
* Popln: 4,500
* Active Pts: 2,610
* Billing: MB w/ BB for path results & CDM pts
* Splits: Private = 39%, Medicare = 54%, DVA = 6%
* Gross Annual Billings: ~$1m
* Adjusted EBITDA: ~$150k
* No# of Drs: 5 (some are on the RVTS/PEP undertaking training to get F/ship)  2x FTE's
* Drs hrs + splits: owner =  2 days/wk @70% of billings, Dr 2= 3 days/wk @ 70%, Dr 3 =  2 days/wk @ 60%, Dr 4 = 2 days/wk @ 60%, Dr 5 =  2 days/wk @ 60%
* skin cancer drs: get b/w 60-70% for the procedural work
* Allied Health: 4  Psychologist, dietitian, podiatry, etc
* CR: 6x
* Path: pays $3,500/12 or $42,000 pa til 2025, <4% annual increase, they are keen for a longer term but current owner renews their lease every 5 yrs to negotiate better terms
* Tx rms:1x
* Team: PM support from the sister clinic, 1x receptionist + 1x cas nurse (28 hrs/wk)
* Software: BP, Cubiko, Hotdoc
* Rent + outgoings: $37,200 + GST & $3,600 + GST pa 
* Lease: 'til May 2027, Landlord is keen to offer a new 5+5 lease, annual CPI increase
* PIPs: $34k pa
* WIPs: $44K pa
* Location: opposite Nelson Bay, this is the sister practice to a large MC which is owned by the same GP owner & can be bought independently or together. 
* Hrs: Mon to Fri  8:30am  5:00pm

Note: vendor has cut down staff cost significantly post COVID + their PIP + PNIP have increased by approx 50% this quarter. My-Medicare will bring more incentive to the practice too, so, if you delay in purchasing a GP business this year, the EBITDA will be significantly higher at the end of the current financial year.

Site visits: may take place after an initial online chat has taken place w/ the vendor at a time that is mutually convenient outside trading hrs.

Broker: Sally Stuart
M: xxxxx
E: sally.xxxxx

THE PURCHASER TO MAKE HIS/HER OWN INVESTIGATIONS AND ENQUIRIES IN RELATION TO THE BUSINESS & NOT TO RELY UPON WARRANTY OR STATEMENT MADE BY THE VENDOR OR BY ANYONE ON HIS/HER BEHALF

Ref: NSW10818
Ref: NSW10818
Timestamp: 20240422053004