This medical testing clinic is among the best in the state. Their customer base is roughly 80% cash at time of service and 20% billed monthly. This income comes from hundreds of different referral sources with no significant customer concentration. They have high profits and stable revenues due to the consistency and type of services provided such as (*Note: the Discretionary Earnings number assumes an active owner with a certification of Nurse Practitioner, Physician’s Assistant, Chiropractor, Physician or any other certification that would allow them to perform DOT physicals them self to replace the current active owner):
- DOT Physicals and Mandated Drug and Alcohol Testing (also other work related physicals and drug screenings)
- Attorney / Court Mandated Testing – over 300 attorneys refer this work.
- State Children Services
- DNA / Paternity Services
- Many other services
There are many avenues that a new owner could grow this business beyond what it is now.
- Accept billed clients – The owners have moved away from billed clients and primarily focus on pay at time of service customers. Most in this industry pursue larger clients that require monthly billings. If a new owner wanted to pursue this business there is a very large opportunity available for new contracts.
- Offer Mobile Collections – Many companies in this arena will offer mobile collections. The owners of this business have not had the desire to introduce this service, because they have been very comfortable with operations as they are.
Additional services someone could offer such as:
- Walk-in Clinic – Health Care
- Lab Draws – Cholesterol, Sugar, Etc.
- Mobile Services
- Immigration / Ancestry Testing
- Insurance Reimbursed Care
- Workmen’s Comp
- Employer Care
- CPAP / Sleep Studies
- Respiratory Mask Fit Testing
- Background Checks
- Life Insurance – Health Screenings
- Nurse Practitioner / Physician Assistant / Physical Therapy / Occupational Therapy
- Substance Abuse Counseling
- Student Health Services
- OSHA (i.e. Hearing Tests and More)
- Multiple Missouri State Contract Options for testing and screening.
- Multiple DOT Contract options for monthly billing clients
The current operation is one of the most profitable companies we have found in this industry and offers some serious growth potential. The owner is looking to retire and is committed to a smooth transition of ownership.
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