Retained Physician Recruitment Firm
Location: Texas > Dallas County
Industry: Health and Medical > Other Health and Medical
Financials
Asking Price: $500,000
Gross Revenue: $437,891
Cash Flow: $212,250
FF&E: $20,000 (Included in Asking Price)
Seller Financing: Financing available at competitive interest rate and reasonable term from a 3rd party lender to qualified applicant with sufficient credit & cash injection.
Business Summary
Excellent “ground floor” opportunity to purchase up and coming physician recruiting & placement company in the Dallas area. The recruiting industry is an $80 billion industry consisting of permanent placement recruiting and contract staffing services. Company provides comprehensive, results-oriented physician placement and consulting services. This particular business specializes in full life cycle physician recruitment for health care clients on a national scale. Niche operation in that approximately 75% of the client base is retained. Sale includes references from a handful of Texas hospital CEO’s, in-house recruiters, and a seasoned management team with 20+ years combined experience with national health care recruiting firms. Business has high profit margins in an industry with extreme upside potential (see Market Outlook below).
Company specializes in contracting with hospital systems and health care facilities to recruit and retain high caliber physicians for permanent placement. Its mission is to establish and foster long-term relationships with a select group of health care clients, and secure the most talented physician professionals that the market bears. It has built a comprehensive database of thousands of passive physician candidates and utilizes leading edge technology to take jobs and physicians to market quicker than most national recruitment firms.
Revenues are generated in three ways: monthly client retainers, marketing campaigns for physician searches, and retain/contingent placement fees. Revenue is enhanced through offering a turn-key healthcare recruiting solution to clients, incremental shared placements with recruiter network, and additional revenue streams generated thru marketing job opportunities for healthcare clients and at times, acting as the in-house recruiting department for select clients. Company is positioned to launch a Locum Tenens (physician staffing) division in the Fall of 2008.
For more information on this physician recruiting and placement business, please contact Stocker Travis at 972-783-1662 or e-mail at stravis@bizdealmaker.com
Company specializes in contracting with hospital systems and health care facilities to recruit and retain high caliber physicians for permanent placement. Its mission is to establish and foster long-term relationships with a select group of health care clients, and secure the most talented physician professionals that the market bears. It has built a comprehensive database of thousands of passive physician candidates and utilizes leading edge technology to take jobs and physicians to market quicker than most national recruitment firms.
Revenues are generated in three ways: monthly client retainers, marketing campaigns for physician searches, and retain/contingent placement fees. Revenue is enhanced through offering a turn-key healthcare recruiting solution to clients, incremental shared placements with recruiter network, and additional revenue streams generated thru marketing job opportunities for healthcare clients and at times, acting as the in-house recruiting department for select clients. Company is positioned to launch a Locum Tenens (physician staffing) division in the Fall of 2008.
For more information on this physician recruiting and placement business, please contact Stocker Travis at 972-783-1662 or e-mail at stravis@bizdealmaker.com
About the Business
Year Established: 2005
Employees: 2 full time - 0 part time
Facilities: Business operates in a 1450 square foot leasehold space in an office building in Irving with a total monthly gross rent of $2000. Current lease term expires Aug 1, 2009.
Market Outlook and Competition: Projections of a looming U.S. physician shortage are expected to peak by the year 2020, with the shortage expected to range from 85,000 to 200,000. Hospitals and healthcare systems now face significant challenges in physician recruitment and it has become a top priority for most medical facilities. In a recent survey of Hospital Physician Recruitment Trends, 85% of the hospitals surveyed are actively recruiting physicians. Physician recruitment has become one of the top two priorities of 60% of hospitals surveyed. A majority responded (53%) that physician recruitment has become more difficult, expensive and time-consuming in the past 12 months, and expects these trends to continue to increase exponentially in the coming years.
Primary care is needed more than ever. Within a few years, the first wave of the 76 million Baby Boomers will become eligible for Medicare. Patients older than 85, who are in the most need of chronic care, will rise by 50% this decade. Physician specialists are in greater demand as well. A recent survey of medical school deans and officials of state medical societies in the U.S. found that 85% of respondents said there were shortages of physicians, usually in specialty areas. Another recent survey of hospital administrators found that the most difficult physician specialties to recruit were radiologists (63%), orthopedic surgeons (58%), family physicians, anesthesiologists (49%), cardiologists (47%).
There are over 800,000 practicing physicians in the US. According to AMA surveys, physician turnover is at an all-time high of 9%, which equates to 72,000 physicians changing practices each year. In addition, AMA surveys show that 12% of the physicians in practice (roughly 176,000 physicians) will consider new opportunities.
About the Sale
Management Training and Support: Seller will provide 30 days on-site training after purchase, assist in securing retention of employees and transfer of supplier relationships, provide on-call telephone assistance after completion of training and sign a no competition agreement.
Reason For Selling: New business venture
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The information on this listing has been provided by either the seller or a business broker representing the seller. BizQuest has no interest or stake in the sale of this business and has not verified any of the information and assumes no responsibility for its accuracy, veracity, or completeness. Please review the full Disclaimer here.
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