Yasmin was an experienced GP in her 40’s who we met at an RACGP event we presented at

She had been discussing starting or purchasing a GP practice w ith a few of her peers

Over the course of our private discussions w ith her, it became obvious that her preference was to go it alone

Yasmin has specialised in a particular area, which means she has a loyal patient base – this gave her the confidence to take the step to practice ownership

Yasmin and her husband decided they wanted to purchase a GP practice, but didn’t know where to start

We worked with her in finding a suitable practice by tapping into our business broker contacts

Yasmin and her partner had no business or management experience whatsoever, and thus needed to be guided in all their decisions pre and post the practice purchase

We were involved in the process of finding a suit­ able practice, reviewing the financial results of the business, organising the f inance and purchasing the associated commerc ial property

We made sure the finance terms were appropriate and palatable for the client and the structure was right

We performed cash flow modelling and gave Yasmin confidence around the feasibility of the project

We set up the bookkeeping and f inancial reporting functions, and conduct monthly meetings with the clients to discuss the financial results and provide advice on further investment decisions

Less than 18 months following the purchase of the practice, it is now thriving and expansion plans are being considered
We are now also at a stage where we can consider transferring the commerc ial property into a self managed super fund in conjunction with their financial planner to further reduce debt and build the clients’ retirement savings

If you are considering purchasing your own medical or dental practice, and would like to organise a private and confidential consultation, please feel free to contact us.
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