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$4 Million Revenue Geriatric Medical Practice in New Jersey
Primary Care & Specialty Group Medical Practices
Our firm is pleased to introduce a Geriatric Medical Practice for sale in New Jersey. The dedicated doctors and nurse practitioners see patients in their main office, as well as other settings, including in the home, assisted living facilities, nursing homes, hospitals, rehabs, emergency rooms, group homes, and via telemedicine. The practice has approximately 1,400 active patients with an average of 97 visits per day in 2020.
Medicare comprises 74% of the company’s revenue, while 24.4% is from commercial insurance, and 1.6% is from Medicaid. Gross revenues have grown over the past few years, going from $2,767,902 in 2018, to $2,849,539 in 2019, to $3,621,241 in 2020. While many businesses saw a decline in 2020, this medical practice for sale actually saw significant growth through the pandemic and continues to see growth in 2021. Based on results through August, they are on track to reach nearly $4.1 million by the end of 2021. Adjusted EBITDA was around $700,000 in 2020 and is expected to be around $1 million in 2021.
The staff is expected to stay on, including the physician owner, who is interested in continuing to treat patients for an extended period of time.
The asking price for this business for sale in New Jersey is $6 million.
Disclaimer: DealStream has not independently verified any of the information in this listing and makes no warranty as to its accuracy or completeness. This listing does not constitute an offer to sell, solicit or make an offer to buy an investment interest. Offers to sell, or the solicitation of offers to buy, any security can only be made through official offering documents, such as a subscription agreement and private placement memorandum.