SOLD
Tech - 3237:
Very Profitable Upright MRI Center in North East with Outstanding Growth Potential

SOLD - THIS IS NO LONGER AVAILABLE

Unique Possibilities of Upright FONAR MRI Expands Geographic Market

Disclaimer: TechnologyPark.com has not independently verified any of the information in these listings and makes no warranty as to their accuracies or completeness.

Patient Sitting in Upright MRIOur client is a 6-year old ACR-accredited, free- standing UPRIGHT® imaging center in a very affluent town near major metro areas. The Center is solidly profitable with a single modality (MRI), but with additional modalities, its revenues and profits can jump up significantly.

Scans Children, Who Sit In Their Mother's Lap; Usually Requires No Anesthesia

Because of its uniqueness, patients routinely travel up to one hour to come to this center, and it is not unusual for them to come from as far as three to four hours away.

SERVICES

World's First Radiation-Free Diagnosis and Evaluation of ScoliosisThe Company provides UPRIGHT® MRI and MRA scans. With its state-of-the art image storage and retrieval system, referring physicians are able to log on to the Company's Picture Archiving and Communication System (PACS) to receive real-time scans of their patients and have direct access to the Company's radiologists. Majority of the referring physicians are orthopedists, neurologists and chiropractors. Company accepts all major private insurances and Medicare and Medicaid.

REASON FOR SALE

The Seller owns another non-related internet based business that demands the majority of his time. This business is growing and requiring even more attention.

PERSONNEL

Three full time and two part time employees work in the business. There is a full time Practice Administrator/Billing Manager, a full time Front Desk person, a full time Radiological Technologist, a part time Front Desk person and a part time Radiological Technologist. All are long-time employees of the center.

ATTRACTIVE OPPORTUNITY

This is an attractive opportunity for many different types of buyers.

•  A profitable, turn-key opportunity for a buyer / investor looking for a medical business.
•  It is particularly attractive for radiologists to get into their own business as they would also get the cash flow that currently goes to outside radiologists.
•  It is also attractive for larger chains and centers who can gain valuable market share and increase profit margins by driving down costs and using their marketing ability to drive up scan volume
•  It may also be appealing to private equity groups already in imaging / complementary businesses to add additional revenues.

Some of the attractive aspects for a Buyer are:

•  FONAR, the only manufacturer of UPRIGHT® MRI scanners, has 126 units in operation in the United States , and 141 worldwide. When properly marketed, this small number of available units drives referrals to these centers.
•  The Company has a well-trained, highly respected staff that would be willing to remain in place with a new entity.
•  Additional services could be added in the same space: Ultra sound, digital x-ray and bone density. CT scanning can be adding by leasing 900 square feet adjacent to this space. (The center currently refers out in excess of 90 CTs per month). There is a license in place for CT scanning.
•  In a strategic acquisition, economies of scale can be capitalized upon and existing radiologists could decrease Cost of Goods.

FINANCIAL SUMMARY

•  Gross Revenue (2011): $1.1 million
•  Adjusted EBITDA (2011): $433,000 / $548,000 (for a radiologist buyer)
•  Lease Rate: $6,700 per month

We Can Help You Implement Your Strategy

Are you looking to find a suitable business or looking to find strategic partners? We can find customized solutions that will help you in implementing your strategies. Contact us today.