Are You Looking To Buy A Practice?
At 1st Med Transitions, we understand that Buying A Practice on your own can be a difficult and time consuming task. Whether you are ready to buy now or just browsing for a practice, our transition advisors are happy to discuss your options.
We know that you have invested years of hard work into your education and experience. When it comes time to buy your practice, you want to have the right team in place to help and support you every step of the way.
STEP #1 Search Listings
Search Our Practice Listings without committing or feeling pressure to make a move. Browse listings, save favorites, and let us know if you would like more information.
STEP #2 Sign Our NDA
Once you have a singled out a practice of interest, the listing broker will share our Buyer Acknowledgement and Non-Disclosure Agreement for you to review and sign.
STEP #3 Review Documents
When the listing broker receives your signed NDA, he will share our online data room for you to securely log into and review pertinent practice documents, such as the pictures, practice profile, historical financials and practice reports.
STEP #4 Request Site Visit
If your review of the practice documents is satisfactory and you would like to visit the practice, let the listing broker know and a site visit will be scheduled for you to tour the practice and meet with the seller to discuss the clinical side of the practice.
STEP #5 Make An Offer
If you decide this is the practice for you, discuss with your advisors if necessarya and make an offer. The listing broker will discuss your offer with the seller and let you know if they will counter or accept.
STEP #6 Due Diligence
As soon as both parties agree on an offer, a Letter Of Intent will be structured Once the LOI is signed by both parties, the transactionw will enter a due diligence period where the buyer will have an opportunity to do a deeper dive into the financials, practice software, charts, fee structure, etc. The corresponding attorneys will also begin to work on the purchase & sales agreement to legally bind the parties to the sale.
STEP #7 Close & Transition
When the due diligence period over and the contract finalized, we are ready to close the transaction and move into the transition period. During this preiod, the seller will work with the buyer for a pre-determined amount of time to get them up and running at the practice.
To join our buyer's list, complete our Buyer's List Form Here and you will receive a confirmation email shortly.