Company Overview
American HealthCare Capital is proud to introduce a well-established medical practice and sleep center located in Michigan. The practice provides Sleep Medicine and Clinical Neurophysiology/Attention Disorders. Sleep Medicine comprises the majority of their business (90%), and the rest is from Clinical Neurophysiology/Attention Disorders. Approximately 98% of their clients are adults and 2% are children. The full-service, 6 bed sleep disorders center is accredited by the American Academy of Sleep Medicine, has an active Clinical Research component, and is the oldest continuously accredited sleep disorders center in the area.
Financial Overview
The payer mix is 75% commercial insurance, 12% Medicare, 12% Medicare Advantage and 1% Medicaid. Gross revenues have shown consistent growth, going from $2 million in 2020, to more than $2.1 million in 2021, and ending 2022 at nearly $2.3 million with adjusted EBITDA of $1.1 million (49.5%). The company generated $2,865,283 in 2023 with an adjusted EBITDA of nearly $1.4 million, and they expect to see similar results in 2024. The patient base continues to grow through self-referrals, physician referrals, and advertising, and the seller feels that growth could be achieved by adding more providers to support the increasing demand.
Staff Overview
The staff is expected to stay on post-acquisition, and the seller is open to staying on for 12 – 18 months to assist with the transition to new ownership.
Asking Price
The asking price for this Michigan sleep center and medical practice is $3.5 million.
