Feb 14, 2019 — The Company operates a physical therapy and rehabilitation center out of a single facility located in Long Island, NY. Core services lines include physical therapy, acupuncture and massage therapy. All services are provided by accredited, licensed and/or certified personnel. Revenues are derived from patients that typically receive repeat treatments for a few months or more. Most new patients hear about the Company through word of mouth or are referred from local physicians. The Company has a wide network of professional referral sources. Patients who have completed their initial treatment program that often return for additional services. Some patients continue with massage therapy and acupuncture on a regular basis. Core strengths include the Company’s multi-disciplinary approach, positive reputation and strategic location.
Gross Revenue was approximately $1.1 million in 2018 with owner cash flow of approximately $270,000. The Business relocated to a larger facility in 2016 in order to service increased demand. Higher levels of revenue could be supported out of this location by increasing hours for part-time personnel or by hiring additional staff members. Revenue and earnings are expected to continue the upward trend into 2019. The Principal is willing to participate during a transitional period to ensure seamless integration and provide continuity. The owner is relocating and therefore is interested in selling the business.