Rare find in Essex County 284180

This practice was established in 2019. It currently has 633 active patients and a great deal to be reactivated. They average 8 to 10 new patients per month with no marketing. Most new patients come from word of mouth and location convenience. The office utilizes Dentrix practice management system, Dexis digital x-ray, and a newer 2D Pan. Demographics include a good mix of high and medium income with some low income mixed in. Some of the Major employers range from high-tech companies in the area, educational institutions, and Haverhill Hospital, to name a few. This is one of six locations owned by the sellers. The reason for the sale is the lack of associates in the market. The Seller does not intend to continue working at this location. Quick transition. The facility is open Monday through Thursday from 8 AM to 5 PM. Financial Overview: The practice is currently a preferred provider for MetLife, Delta premier, CIGNA, Blue Cross, Blue Shield, and Altus Dental. 72% of the income is from insurance, while 28% is from self-pay. No Medicaid or capitation. Collections:
2019, $903,213
2022, $782,434.
2021, $772,552
2022, $577,284. (the drop in collections has been a direct result of inconsistent associate coverage)
The weighted (putting more emphasis on the most recent years) average of the past three years is $684,475. Team Overview:
Two owner doctors and one associate doctor.
One full-time hygienist. 32hours
One full-time front desk. 32 hours
One full-time assistant. 32hours
Facility Overview: The facility comprises four equipped operatories and a fifth plumbed operatory. It is beautifully decorated, and the equipment is in great shape. It is on the first floor of a one-story medical building with ample free parking and outdoor space for staff and gardens for patient view. The rent is $4200 per month and utilities run around $605 per month. The landlord is offering a five-year lease with a five-year extension and first right of refusal.