Company Overview
American HealthCare Capital is pleased to exclusively introduce a modern, state-of-the-art, multi-location Urgent Care and Primary Care Medical practice for sale located in New York City. Since its founding in 2017, the practice has been in-network with major insurance providers, including BCBS, Cigna, United, Aetna, Medicare, and Managed Medicaid and currently attends to approximately 100 patients daily, with plans to increase this to 200 patients per day.
The facilities are accredited by the Urgent Care Association of America (UCAOA) and provide a wide array of services. They accommodate patients of all ages, from children to seniors, with a team of Board-certified physicians and physician assistants with extensive experience in Emergency Medicine, Urgent Care, and Primary Care.
Financial Overview
The practice’s payer mix is approximately 8% Self Pay, 8% Medicare, and 82% insurance.
Gross revenue was positively affected by COVID 19 where the practice was a major player, seeing more than 120,000 patients in just one year. Since then, revenue has normalized, reaching $4,075,312 in 2023. 2024 Revenues were $3,458,252 with adjusted EBITDA of $530,510 (15.3%).
MiDoctor’s collection process has not been consistent with industry standards. If collections were more typical, we estimate that revenue and EBITDA would have been $700 to $800 thousand more than indicated on the financials.
Staff and Exit Plants
Current ownership plans to exit but will assist during a transitional period as needed. The remaining staff are expected to stay on.
Asking Price
The asking price for this opportunity is TBD and includes Accounts Receivable, FF&E, and Supply Inventory. Cash, debt, and Accounts Payable are excluded.
