M&A Healthcare Advisors is pleased to present a Primary Care Practice with multiple offices located in Central Coast California. The business was established over 40 years ago and offers a wide range of services including Comprehensive Primary Care, Dermatology Evaluations, Women’s Health, Primary Mental Health Care, Minor Surgical procedures, and more. There are currently 5 Physicians and 5 Physician Assistants within the practice.

For 2023, the payor breakdown is approximately Medi-Cal (39%), HMO (25%), PPO (18%), Medicare (17%), and Private Pay (1%). As of August 2023, the company’s patient census is over 15,000 and on average, providers perform approximately 1,900 patient visits per month. 2023 is also experiencing increased numbers in terms of patient growth whereas June through August saw an average of 195 new patients each month.

In 2020 and 2021, the company generated revenue of approximately $5.3 million ($1.530 million Adj. EBITDA) and $5.8 million ($1.537 million Adj. EBITDA), respectively. In 2022, the company generated nearly $6.5 million of revenue with an adjusted EBITDA of approximately $1.475 million (23%). Due to several external factors, including less favorable PPO rates, the company’s Trailing Twelve Months (TTM) revenue ending August 2023 is approximately $6 million with an adjusted EBITDA of $530,000 (9%). Q4 of 2023 is expected to outperform the prior months while 2024 is projected to yield comparable financial results to 2022.

Our client is the company’s CEO & Medical Director. He would like to retire near term but is open to remaining with the business long enough to ensure a successful transition. For more information and next steps, please sign our Non-Disclosure Agreement.