The healthcare industry is always evolving from private practice and family medicine to urgent care centers and medical specialties. In all of these areas, there is a growing need for professional practitioners, and if you are looking to sell your healthcare-related business, we’re here to help.
Annual spending on healthcare in the United States is nearly 17% of the Gross Domestic Product (GDP). Revenues are expected to grow by 6% annually over the next several years. This means that many medical practices have great earning potential. If you are ready to sell your healthcare business, whether to retire or move on to something else, there are great opportunities now.
There are challenges to selling a medical practice in California. Even though the buyer was licensed in another state does not guarantee they will meet California standards. Regulations are also different in California, and your buyer needs to be aware of them. That’s where we come in, with our years of experience in selling a variety of medical practices.
No matter what your reason for selling your California medical practice, we have the experience to help you every step of the way, from a business valuation to help you determine what your business is worth to the final process of escrow, closing, and passing your business on to a new owner.
Are you selling a medical practice in California? Or are you just getting ready and would like to learn more? Do you have questions about how to find the right buyer and make sure they are qualified to buy your business? Are you just unsure of where to start? That’s why you need a Lifetime Certified Business Broker (LCBB) by your side, and that is exactly what we’re here for. We want to be your business broker!
Selling a medical practice in California may be very different from what your buyer has experienced in other states. Even if they have a current license to practice in another state, they will still have to make sure they are registered or current with the Medical Board of California.
Also, due to the nature of a medical practice, it is common for the current owner and practicing physician to work with the new owner for a certain amount of time before or after the sale. If this period happens after the sale, you’ll want to be clear how long you will work with the new owner, and what the terms of that agreement will be, including how much if anything you will get paid.
As with other businesses, financing is also a concern. Your buyer will need to either have financing in place or be able to get financing to purchase your business. This may sound like selling a medical practice in California can be a bit complicated, and you are right, it can be. But that’s why we’re here. As Certified Business Brokers, we’ve sold medical practices before, and we know how to navigate your unique circumstances. If you have any questions, feel free to contact us. We’re here for you.