At 1st Med Transitions, we understand that Buying A Dental Practice on your own can be a difficult and time consuming task. This is why we developed our BuyerAssist™ Program to help first time dental buyers analyze dental practice opportunities to make sure they make sense financially and professionally.
Our goal is to assist in determining if the target practice is a good purchase opportunity, what a fair purchase price would be and what is the potential profitability of the practice moving forward post-sale.
When you enroll in our BuyerAssist™ program, we will guide you through the following steps:
Once we determine you purchase potential, start your search for a practice to buy. Your Advisor can guide you through some or our best search practices we have developed over the years.
Once you have identified a practice for sale that meets your criteria, your Advisor will work with you review and analyze the practice. We'll make sure you assess the listing objectively and don't overextend yourself.
If we determine the practice is a good fit and priced fairly, we are ready to make an offer. Your BuyerAssist™ Advisor will help you draft a professional Letter Of Intent that will be taken seriously by the buyer and the listing broker.
When the Letter Of Intent is accepted, it's time to get started on your financing approval. The good thing about working with 1st Med Transitions, is that we are continuously in contact with the best Dental Practice Lenders in the marketplace. We know who is offering the best rate & terms and who is the best lender for each acquisition scenario.
Once the LOI is signed by both parties, the transaction will enter a due diligence period where we will have an opportunity to do a deeper dive into the financial's, practice software, charts, fee structure, etc. We will provide you with our BuyerAssist Due Diligence Checklist to make sure nothing is left out of your review process.
As we move through Due Diligence, both parties will engage Attorneys to start working on Purchase and Sales Agreement. 1st Med Transitions has a network of local, state and nationwide Dental Attorney who we can connect you with to help with this part of the process.
When the due diligence period is over and the contract is finalized, we are ready to close the transaction and move into the transition period. We'll make sure we have a plan in place with the seller to guarantee a smooth transition of ownership.
Don't hesitate to contact myself or one of our Transition Advisors.
Senior Transitions Officer
years of industry experience
satisfied clients and counting
in closed practice transactions
Our initial analysis will consist of a financial and clinical analysis of the target practice to determine if it is a good personal fit. We will assess the fair market value for the pracitce and determine how much you should offer.
Once our offer is accepted, we'll enter due diligence. We'll do a deeper dive into the practice and start our financing application, attorney outreach, lease negotiations & credentialing review.
Congratulations! It's time to close on your acquisition. We'll sign the Purchase Agreement, Loan Documentation, Lease, Insurance and Corporate Documents.
"I can honestly say that I have zero regrets. I can’t imagine why anyone would go with one of the large ‘Old School’ brokers that wanted to charge me twice what 1st Med Transitions did."
"The professionalism, patience and tolerance David demonstrated transitioning a husband & wife, multi-specialty practice was remarkable. His commitment to our practice well-being and our professional future well-being was truly unmatched"
"I decided to give 1st Med Transitions a try, because unlike others, they didn’t require a long term contract and I should confess I am extremely satisfied"
"I am very grateful to 1st Med Transitions and, especially, to Mr. David Goldstein for the relentless effort he dedicated in selling my dental practice in a very short amount of time."
"Being my first time selling a dental practice... I'm so glad I chose 1st Med Transitions and would recommend them to anyone who wants to sell their practice"
Questions?