While more than 5,000 GPs are currently in training, a similar number of practising GPs are over the age of 70 and are likely to reduce work commitments in the near future. As a result, we are likely to see many changes in practice ownership and the nature of the GP workforce.
At Alecto Australia, we are seeing many older GPs owners who are interested in scaling down their work commitments or selling their practice altogether. For both buyers and sellers of GP practices, the ‘acquihire’ concept may be worth considering as an option.
Acqui-hire is when one company buys out the other one specifically for their employees. It’s a popular strategy for buyers because a good acqui-hire can bring in a lot of new talent. Plus, the employees have experience working together as a group and can ensure the smooth running of the business.
The concept also works well for individuals wishing to sell their business while continuing to work as employees.
In General Practice, Acqui-hire provides the opportunity for both buyers and sellers to get the best of both worlds: Sellers can decrease their work commitments and cash in on the ‘business’ side of their practice. This allows them to invest a lump sum of money while continuing to draw ongoing earnings from their work. Buyers can avoid many of the risks associated with establishing new practices by buying the key parts of an existing operation.
Interested in Acqui-hire or want to know more? Register your interest with Martina at firstname.lastname@example.org if you want us to keep you in mind for opportunities.
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