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Listing ID: 2443606

Provider Of Occupational Health Services In West Virginia For Sale

Kanawha, West Virginia, United States

BUSINESS SOLD

(Furniture / Fixtures included)

Revenue: $ 1,636,233

Cash Flow: $ 455,269

Business Description

Business has already seen growth in 2017! Excellent, high traffic location! Health services for over 25 years! The seller is an accountant so the financial records are superior. The data from January through June 2017 annualized, shows a revenue increase of $566,312 or a 2017 total revenue of $1,698,242 compared to the 2016 tax return total revenue of $1,131,930. Similarly, the annualized owner benefits for 2017 are $601,082 or an increase of 43.8% compared to $418,019 per the 2016 tax return. This health service has been serving West Virginia and the Tri-State area with medical services that are unmatched for over 25 years. Their dedication to quality includes providing clients with flexible solutions, transparent operations and audit proof records. Their physician, of about 20 years, is e-certified medical examiner and listed on the national registry.

An occupational health provider that strives to provide employers and their workers with the quality occupational health services they require to function safely and properly. They complete a large number of services including physicals, general exams, respiratory fit tests, drug and alcohol screenings, x-rays and vaccinations, providing clients with all the services their company needs to ensure employees are healthy and capable of performing their jobs. They do not diagnose so the insurance cost to the owner is very reasonable. The owners, for 25 years, are not medical people. Many employees have been in place for a number of years. The owner is semi-retired and lives primarily in Atlanta, Georgia.

Property Details

Years Established:

25

Property Type:

Lease

FF&E:

$ 100,000

Other Details

Premise Details:

Space is 3715 sq and includes a reception area; 2 exam rooms; 3 drug testing bathrooms/one handicap; doctor office; VP Office; accountant and consultant office/share space; lab room; EKG room/stress test room; pulmonary fitting and testing room; hearing booth testing room; 2 vision testing Rooms; staff office room/cubicles; 2 storage rooms; break room; employee bathroom; room set for filling out forms and talking to patients; and X-ray room. Space layout can be found in documents.

Competition:

There are some businesses in the area that compete but are not able to specialize in working companies and handling their specific occupational health needs. There is a business that specializes in drug testing but cannot handle the physical exams portion that companies are requesting. Another competitor specializes in urgent care but doesn’t like to deal with companies and their employees. A local doctor’s office handles occupational health but specializes in family medicine, etc. This company has created a special niche in the area by providing occupation health solution for companies and their employees.

Expansion Potential:

Business has already seen growth in 2017. The seller is an accountant/CPA so the financial records are superior. The data from January through June 2017 annualized, shows a revenue increase of $566,312 or a 2017 total revenue of $1,698,242 compared to the 2016 tax return total revenue of $1,131,930. Similarly, the annualized owner benefits for 2017 are $601,082 or an increase of 43.8% compared to $418,019 per the 2016 tax return. The occupational health industry has been growing specifically in the West Virginia area considering President Trump has promised the coal industry more work which has resulted in an increase in our client traffic. Also, the oil and gas industry has ventured into West Virginia which has been very beneficial considering coal was a big part of the business prior to President Obama.

Operation Details

Employees:

8 FT

Trading Hours:

M-F 8am-5 pm; Sat by appt; 24 hr svc avail

Support & Training:

Will train for 4 weeks @ no cost. Management experience.

Miscellaneous

Financing Available:

Yes
$1,100,000 Down/ $100K for 60 mos. @ 6%. This business could be financed with an equity investment of 25% of contract sales price or an estimated $300,000.

Reason For Selling:

Retirement.

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