At Professional Transition Strategies, are proud of all the Doctors who have found success with their transitions. While we have completed over 350 transactions, we wanted to share a few recent of which we are proud.
Single Practices Sold to Individuals
Austin, TX: This single practitioner office went under contract within 3 weeks! It sold at Fair Market Value to an individual.
Denver, CO: This single practitioner was interested in selling their satellite office to concentrate on the primary location. We had the practice under contract and closed within 3 months. Per the seller’s request, they exited immediately.
Santa Rosa, CA: This 2-doctor practice near the Bay Area in California employed an associate who did not want to own equity within the practice. The practice sold for the appraised value, was funded 100% by a bank we recommended, and the associate decided to stay on with the practice to allow the selling dentist to start a new career in a different field.
Pediatric Practice in Colorado Springs, CO: This doctor was unsure which direction to take – bring on a partner or affiliate with a DSO. After receiving multiple offers from both, the decision was to affiliate with a DSO. The practice was sold significantly above fair market value.
Endodontic Practice in Albuquerque, NM: This doctor was looking to move out of the state as soon as possible. After a short time on the market, the practice was sold at Fair Market Value to a doctor from out of state.
Oral & Maxillofacial Surgeon in Dallas, TX: This single doctor practice in Colorado wanted to sell to another single oral surgeon, therefore allowing him to move back near his wife’s family. We sold the practice in less than 6 months for just under appraised value to achieve the timeline requested by the selling dentist.
Multiple Practices in Southern Washington: This doctor originally wanted to sell each practice by itself, however he quickly changed his mind after learning about the multiple offers received by DSOs. We ended up wrapping together his 5 practices and selling to a clinically autonomous DSO. He retained an equity stake within the DSO after. We also are in the process of selling 3 of his buildings to a REIT who now views them as an investment.
Colorado Springs, CO: This 3-doctor practice housed 24 ops in Colorado. Based on what the doctor was looking for, we helped them affiliate with a large DSO. Each doctor now makes more in income than they did as owners and they have grown the practice by almost 30% within six months. On another exciting note, all three doctors are now debts free.
Kansas City, KS Area: We help affiliate this doctor from the Kansas City area with an entrepreneurial DSO, who allowed him to keep a 30% stake in the practice. Also, they encouraged him to start purchasing other offices that he could also have a stake in. He only has a small real estate loan remaining and has purchased an additional practice only 3 months after close.
New York, NY: We had the practice on the market for 6 months while looking for an individual to purchase. Multiple offers were made, however unfortunately no single individual could qualify for this large, Manhattan, NY based practice. We affiliated this practice with a large DSO who took over their 300K/year lease and allowed the doctors to stay on practicing with their group for as many years as they’d like.
Colorado Springs, CO: We helped find a 50/50 partner to replace the founder of the $2.5M practice in Colorado. After conducting 8 interviews with the existing doctor, we received 7 offers before we found the right fit. The buyer now has the first right of refusal to purchase the building from their partner.
Augusta, GA: This very large single doctor pediatric practice in Georgia originally had thought about affiliating with a DSO. However, he ultimately decided to sell ½ of the practice to another pediatric dentist from New York. They decided together they would try to grow something on their own. The existing doctor also allowed the buyer to buy ½ of the building as well after a 6-month trial period.
Torrington, WY: This doctor originally came to us looking for a transition plan. We ended up finding him a graduating dentist who was from a nearby town in Wyoming, who had just graduated from a GPR program. After a 1-year associateship, he was then allowed to buy 30% of the practice. After 3 years he can buy an additional 30%. PTS has agreed to consummate the entire buyout 5 years after he becomes majority owner.
General practice in Colorado Springs, CO: These two doctors owned two separate dental practice in the same location for over 20 years. Unfortunately, disaster hit, and an electrical fire burned part of the building which caused smoke damage throughout and part of the roof damaged. PTS was hired to relocate the two practices within 90 days because their insurance policy had only a 90-day business interruption clause. We were fortunate to find a space within a two-mile radius in a better location and overall more modern location. With minimal construction and a flexible landlord, we were able to get the deal done in 90 days.
General practice in San Diego, CA: These husband-wife doctors had not taken a vacation together in over 30 years because they felt they were abandoning their patients. PTS found a great match with a dentist out of the marines to take over the practice. We ran into issues with a problematic property manager who was overseeing the management of the property. PTS needed to fly out to the property managers office to work with the property manager to negotiate new lease assignment. After an extra month of collaborative negotiations, we were able to get the deal finalized.
General Practice in Ann Arbor, MI: This general dentist was looking to move out of the cold weather and be in a warmer climate. PTS was able to find a husband-wife doctor to by the practice but also the real estate so the doctor could eventually move to California.
Getting people/DSOs out of bad situations
Colorado Springs, CO: This doctor came to us completely underwater in debt. We figured out a way to sell two pieces of equipment to another group and then sell his practice to an individual who was looking to start a small group. The seller did not come out of the transaction with very much money, but we were able to completely get him out of debt where he now owns his house free and clear and teaches for a living.
Boulder, CO: This doctor with severe medical problems lost his ability to practice medicine only a couple of years after moving his practice into a large and expensive condo that he built. Unfortunately, he did not have adequate disability insurance so we needed to find a quick solution where he could get out of debt before a bankruptcy and/or foreclosure. We were able to find a local buyer to purchase the real estate and practice just before his building went up for auction.
Concordville, PA: This DSO startup, who was not able to keep a consistent staff or doctor in the community, came to us looking for help in divesting their interest in the practice. We found multiple individuals and an emerging DSO who were very interested in the concept. They ended up closing the deal with an emerging DSO as they could do an all-cash deal and close quickly.
General practice in Fayetteville AR: This DSO purchased a smaller DSO portfolio in which some of the acquired practices were underperforming due to significant overhead, inability to keep staff and a revolving door of doctors. PTS found a buyer to purchase the practice at a lower purchase price and renegotiate the rent to offset the large overhead.