DENTAL PRACTICE OFFERING $750,000

Transcription

1 DENTAL PRACTICE OFFERING $750,000 Stephan Abedi, DDS & Shahab Ardalan, DDS AZ Life Dentistry, PLLC West McDowell Road, Suite 112 Avondale, Arizona KATIE HINES, RDH, CCIM (602) Mobile CRYSTAL SMITH, RDH (480) Mobile

2 CONTENTS OWNER INFORMATION PRACTICE SUMMARY CASH FLOWS AND SALES VALUATION SUMMARY EQUIPMENT AND FURNISHINGS APPRAISAL DEMOGRAPHICS All of the information provided has been obtained from the Owner, which we believe to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty, or representation about it; it is your responsibility to confirm accuracy and completeness. Any projections, opinions, assumptions, or estimates are used for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial, and legal advisors. You are your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction, the suitability of the property for your needs. The financial analysis for AZ LIFE DENTISTRY, PLLC is drawn from financial data and statements of revenue and expenses, cash basis, provided by the Owner. We express no opinion or any form of assurance that the data and statements reflect the activity of the practice. Statements of assets, liabilities, and equity were not provided.

3 OWNER INFORMATION PERSONAL Dentist s Name/Degree Stephan Abedi, DDS and Shahab Ardalan, DDS Date the Practice Commenced (if Practice was previously owned, please put that date and name of the prior Dr.) The practice commenced in September Date this Practice Commenced in this Location (if Practice was previously owned, please put the date the previous owner commenced in this location) The practice has always been in this location. Date this Practice was started or purchased by you. The practice was started by the Sellers. Dental School Alma Mater/Year Graduated Dr. Abedi - University of Southern California, 2001 Dr. Ardalan - University of Southern California, 2001 General plans after Sale of Practice; what is your ideal transition period? The Sellers would like to focus their attention on their Phoenix practice located at 43 rd Avenue and Northern. The Seller is willing to stay until the end of Reason for selling The Sellers would like more time to focus on their Phoenix practice.

4 The Best Things About My Practice 60+ new patients per month Recently remodeled and completely digital Very profitable, growing practice

5 PRACTICE SUMMARY Corporate Entity AZ Life Dentistry, PLLC Corporate Directors and Officers Shahab Ardalan, DDS and Stephan Abedi, DDS Is all of the equipment owned outright by you? If not, please state terms of current leases or other financing arrangements including balance owed and to which institutions. Yes, the equipment is owned outright. Please list any internal marketing methods. If tracked, what are the results? Internal marketing includes Care to Share cards and asking current patients for referrals. Please list any external marketing methods you currently do, including type, frequency, cost, and if buyer would have to take over any outstanding contracts. If tracked, what are the results? External marketing includes advertising in the West Valley View Newspaper and ValPak. Estimate number of active Patients seen in past 24 months (not patient visits) Approximately 675 active patients Please provide estimates of type of patient base: Fee for service / Insurance Plans. List approximate percentage of patients on each plan. Insurance: AHCCCS: 0% Capitation: 0% PPO: 65% Cash and/or Indemnity Insurance (fee for service): 35%

6 Please provide an estimate of what type and percentage of services you refer out. Endodontist: 90% Oral Surgery: 50% Periodontist: 90% Orthodontist: 50% (Invisalign only) Pedodontist: 50% REFERRAL SPECIALISTS Endodontist: Dr. Michael Hilgers Oral Surgery: Dr. Randall Blazic Periodontist: Dr. Masih Shahlaie Orthodontist: Dr. Robert Kane Pedodontist: Dr. Lonny Carmichael Estimate of average number of new patients per month for most recent twelve-month period. Approximately 60 new patients per month How far ahead is dentist booked? How far ahead is hygiene booked? Dentist: Hygienist: 2 weeks 4 weeks Insurance Plans You are a Provider for Delta Dental MetLife United Healthcare Guardian United Concordia Cigna Clinical Practice Hours Monday: Tuesday: Wednesday: Thursday: Friday: Saturday: 8:00 AM to 5:00 PM 7:00 AM to 3:00 PM 8:00 AM to 5:00 PM Closed 7:00 AM to 3:00 PM Closed Type of computer system and version Dentrix G4

7 Average percent collection of Accounts Receivable Approximately 99% OFFICE Is real estate owned? If so, is it available for purchase? The real estate is leased. What is your monthly mortgage or lease payment and additional expenses related to your office space? Please provide an itemization of additional expenses, including property taxes, utilities, janitorial, CAM charges, etc.? Approximately $4,900 per month, which includes everything except electric. What is the annual lease increase? The annual lease increase is two percent. When does term of lease end? What renewal options are there and at what rate? The lease expires July 31, There are two five-year options to renew. Square footage Approximately 2,520 rentable square feet Number of operatories. How many are equipped? Five operatories, all equipped Number of parking spaces or parking ratio Generous parking Is the office handicap accessible? Yes, the office is handicap accessible.

8 STAFF PROFILE Title Name Salary/Comm Hrs/Wk Date of Hire Front Desk Crystal $17/Hr 40 Hrs/Wk 2/2012 Assistant #1 Jessica $17/Hr 36 Hrs/Wk 11/2011 Hygienist #1 Amy $45/Hr 32 Hrs/Wk 1/2012 Vacation Policy: Sick Time Policy: Paid Holidays: One week after six months full-time employment Two days per year Four per year Does your spouse receive a salary from the office? No Is the staff on an incentive program? How does it work? No Do any employees receive health insurance benefits? If so, who and what benefits do they receive? No