Increased costs, lack of quality GPs and more competition are just a few reasons many practice owners are looking to sell. According to an article recently published in 6 Minutes a new survey has found that 1 in 5 practices are currently looking to sell their business in the foreseeable future.
To me, that is a shocking statistic and not what I would expect to hear.
True enough, we see many of our clients facing challenging situations and an increasingly difficult environment. Workforce challenges remain and the competition for high-quality GPs seems to be on the increase.
But there is another side. We see many practices doing well and thriving – particularly those that have economies of scale and are able to spread the cost of overheads across several GPs – or even several sites. We also see interested investors who have the funds to purchase clinics and see this as a great opportunity. In fact, the appetite for purchasing practices is greater than we have seen in years.
From our perspective, these are great opportunities for all practice owners. For those who no longer have an interest in running a clinic in the current environment, there is the opportunity to sell to eager buyers. In the current market, they are likely to see good rewards for the business they have created. There is also the opportunity for GP partners to continue working without the headache of running a practice.
Whether you are looking to sell or buy a practice, there are plenty of great opportunities at present. We have a great network of clients around the country and we may be able to put you in touch with a clinic that is preparing to buy or sell their business. With the right connections, there is the potential for a win/win for everyone.
Martina Stanley (firstname.lastname@example.org)
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