Description of the business for sale
The business is an established 11 year old physical therapy clinic with two locations in South Texas. Recently the facility underwent a medicare re-survey, and the business is a certified Rehabilitation Agency. There is a permanent hold on surveys for prospective rehab agencies in Texas currently. Highly visible within the communities served, the clinics serve a regional patient base and enjoy a consistently steady business throughout the year. The business has an excellent reputation for providing quality services for area physicians and regional hospitals which do not have their own P.T. divisions. Services currently do not include pediatric patient care such as speech and occupational therapy which is an excellent growth opportunity for the buyer. The owner has a 60 member fitness club that utilizes the facilities which can be expanded. Seller is seeking a change and will deliver a turn key physical therapy business, ideally suited to hospital extension services, an existing medical practice or national company seeking expansion into the growing and robust South Texas market. Sale price includes a very large accounts receivable backlog which will help buyer attain suitable financing.
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Support / Training provided by seller
Seller will train buyer for 30 days or as much as necessary to insure a smooth transition. Billing services will continue until buyer secures their own Medicare I.D. #, so there will be no interruptions in cash flow during transition.
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Description of the facilities
Two locations provide services to a three county area. One facility is 3,050 square feet located in a retail shopping center on a major highway. The other facility is 2,080 square feet located in a historic downtown office building built to resemble The Alamo in San Antonio, Texas. Rent payments on both facilities include maintenance and real estate taxes, but not insurance. The offices are rented for approximately $52,000/year and they can be transferred to the buyer at very reasonable rates. Seller will carry up to 25% for a well qualified buyer.
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