Selling a Medical Practice

Let’s Get You a Buyer!
If you’re ready to sell your practice, we’re here to help. With ProMed Financial, you’ll have a team of experienced brokers guiding you through every step of the sale.
Contact us today!
(888) 277-6633 for a free consultation or request a practice valuation to get started.
Selling a Medical Practice: Expert Guidance from ProMed Financial
Selling your healthcare practice is a significant decision that requires expert guidance. At ProMed Financial, we leverage decades of experience to help you smoothly transition your medical, dental, or other healthcare facility to a qualified buyer. Whether you’re retiring, relocating, or simply ready for a change, we ensure that you get the maximum value for your practice.
We work with many different types of healthcare facilities and specialties, including but not limited to:
- Chiropractors
- Med Spas
- Weight Control
- Dermatology Clinics
- Family Medicine
- General Medicine
- Neurologists
- Pain Management
- Veterinarians
- Cardiologists
- Dentists
- Gastroenterologists
- Internal Medicine
- Optometrists
- Podiatrists
- Urgent Care
- And More!
Why Choose ProMed Financial?
With over 25 years in the industry, ProMed Financial has successfully facilitated the sale of practices of all sizes—from solo medical offices to multi-location hospitals and large healthcare chains. Our extensive network of buyers, including individual practitioners, corporate groups, and equity firms, allows us to match your practice with the right buyer quickly. In many cases, we have immediate buyers lined up, so your listing might never even make it to our website! We make selling your medical practice easy!
Our Proven Process for Selling Your Practice
We follow a proven, step-by-step approach to ensure a smooth and profitable sale:
1. Professional Practice Valuation
Get a comprehensive business valuation to determine your practice’s fair market value. We’ll analyze your financials, patient base, location, and more to ensure an accurate assessment.
2. Listing and Buyer Matching
With our deep database of potential buyers, we match your practice to qualified individuals or groups who meet your specific criteria. Whether you’re selling a small family practice or a large healthcare facility, we’ve got the right buyers in our network.
3. Negotiation and Sale
Our team of experienced brokers will negotiate on your behalf to ensure you receive the best terms, whether it’s an all-cash sale or an equity deal. We’ll handle the paperwork and legalities, ensuring a smooth closing.
Types of Buyers We Work With
Sell to a Family Member
Passing your practice on to a family member can be a great way to maintain your legacy, though it might not always be the most financially lucrative option.Sell to an Associate
Selling to an associate already familiar with your practice can reduce patient attrition and ease the transition. However, associates may expect credit for their contributions to the practice’s goodwill.Sell to a Solo Buyer
This is the most common type of sale. Solo buyers are often well-qualified, and we frequently secure financing up to 100% of the selling price, resulting in an all-cash sale.Sell to a Group or Equity Buyer
Equity buyers or group purchases may offer higher earnings through EBITA valuation, though they often require a longer transition period.
What is the Fair Market Value?
This is the beginning of our relationship.
Through our expertise and exposure to hundreds of practice sales, we are easily able to identify the inherent value of your practice by applying our proprietary method of analysis.
This complimentary service will provide you with a range of value to consider.
Knowing what your business is really worth, and fully understanding its value, improves the chances of a successful transfer of ownership and allows you to plan an effective strategy.
This way, you will be offered the best sales price when the time is right.
VALUATIONS
There are a variety of reasons why you may need a written report. These may include: partnership relationships that are dissolving, a complex situation involving personal issues such as divorce, or just needing to have a statement that outlines the value for future sales.
We offer a courtesy valuation and this may be sufficient initially. Usually the buyer’s accountant / consultant will spend time during the due diligence period to ascertain or agree with the fair market value we have quoted.
A professional 28-page extensive appraisal is not always needed and often will contain a lot of “fluff” that is unnecessary but costly. We can always provide a one-page summary of value for a very minimal cost.
Right Time to Sell?
Every day, doctors reach a point where they decide to sell their practice. Sometimes planned and sometimes not, there are various reasons for this to occur, such as:
- Retirement
- Relocation
- Health issues
- Etc.
The right time to sell your business is not always obvious, so you always want to be ready. A well-planned exit strategy will come in handy when the time comes.
The selling process is straightforward and is structured as follows:
1. You make the decision to sell.
2. You decide to engage the services of ProMed Financial for professional assistance in marketing, determining the value, procuring the right buyer who appreciates your practice opportunity, and determining after an extensive analysis the fair market value of your practice.
3. Buyers who are interested will be required to execute a confidentiality agreement in order to have pertinent information released on your practice.
4. Upon their review and continued interest, we will make arrangements for an initial introduction through a conference call, personal meeting, and/or Zoom.
5. If the buyer wants to move forward, we will initiate a letter of intent followed with a due diligence period, arrange for financing, and continue with an asset purchase agreement. Guidance will be provided along the way.
6. Arrangements are made for closing the sale, transferring the practice, and providing any necessary training and introductions to referring sources.
“HOW LONG DOES IT TAKE TO SELL MY PRACTICE?”
There is no exact answer to this question, as we have sold practices in one day, one week/month, etc. If we have not received an offer within three months, then we will revisit and examine possible reasons such as: overpriced, unfavorable location, little transition, key personnel leaving. Whatever the reason and whatever your motivation may be could require some adjustment. Price is a major determining factor.
