Company Overview
American HealthCare Capital is pleased to exclusively present an Imaging Company for sale in the Mid-Atlantic area. The Company currently has four (4) facility locations and provides weight-bearing positional magnetic resonance imaging (“MRI”) services and digital motion x-ray scans. At present, the Company consists of one Owner, a Chief Operating Officer, and a small staff of radiologists, radiology technicians and administrative personnel.
The Company maintains an active patient population through a robust referral network, with an average patient volume of 700 – 1,000 appointments per month. The Company utilizes the only weight-bearing positional MRI equipment within a 150-mile radius, and as such, the Company is uniquely positioned to offer the most appropriate imaging services for patients and personal injury cases.
Financial Overview
The Imaging Company payor mix is currently 90% percent health insurance, 5% cash at the time of service, and 5% personal injury cases. Recently, the Owner has decided to focus more heavily on providing MRI services for attorneys representing injured patients because the payments are significantly greater than traditional health insurance – averaging 500% of health insurance reimbursements. Furthermore, there are no credentialing, pre-authorization and collection costs for personal injury patients. A marketing plan has already been developed and successfully launched to target personal injury attorneys.
In 2023, the Company had $3,609,517 of gross revenue with a small net operating loss caused by declining health insurance reimbursements. Currently, the Company is positioned for significant growth with the recent focus on personal injury cases, an aggressive marketing campaign, high and growing demand for MRI services, and recognition within the community as a unique imaging provider, which a new Owner could build upon. Based on these factors, the Company has forecasted increased revenue and profitability in 2024, with projections for 70% EBITDA with a payor mix of 80% personal injury.
Staff Overview
The current Owner and Chief Operating Officer are interested in remaining with the company during a reasonable transition period to a new Owner. Furthermore, the radiology technicians and administrative staff are also expected to remain with the Company.
Asking Price
The asking price for this opportunity is $3.5 million or best offer and includes approximately $900,000 in accounts receivable.
