Tech–3397: Profitable, Well Established, Open MRI Center in the Mid-West
Located in an Excellent Area – Only Open MRI in the Area – Room for Growth – Accepts Most Insurances
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This is a very well-established, profitable Open MRI imaging Center in a fairly affluent area of a major metropolitan city in the Mid-West. Established about 15 years ago, this is the only Open MRI center in the area and has won multi-year accolade as the “Best Medical Clinic” by the local county newspaper.
Located on the first floor of a professional Class A building, the Center has a spa-like atmosphere and the other retail outlets on the first floor include two chiropractors. The Center has an area of 1,760 sq. feet.
Currently, the center offers only Open MRI scanning, although in the past it also offered Ultrasound scanning. It has consistent volume over the past few years (about 60 scans per month) and managed to remain healthy and profitable. The MRI machine is a 0.3T Hitachi Airis Elite, which is maintained regularly and has the latest software version. The service provider is of the opinion that the machine should last many more years with proper maintenance.
The Center also accepts most of the insurances available in the area, with Blue Cross accounting for just over a third of the revenue, whereas Medicare accounts for less than 6% of the revenue.
The Center has a good growth potential. Currently, it does a very limited amount of marketing, mainly by the owner, who also is the MRI Tech at the Center. A larger marketing budget and a dedicated marketer can help. If the buyer has other centers nearby, and if in combination with those centers, it can offer a wider range of modalities, it could help bring more business as well. The center can also offer CE credits for educational efforts to chiropractors, which can also improve business.
- The Center has a great reputation for service and is in a very good, upscale location
- It comes debt-free
- The MRI machine is well-maintained and updated and as per the servicing company should give excellent service for many more years (see attached email)
- It is healthy and profitable and under a good management and marketing can really prosper
- Only open MRI in the area
- Accepts almost all insurance contracts popular in the area, many of which are hard to get
- Scope of adding additional services – particularly if the buyer also has other centers nearby
The Center last year (2018) had a revenue of $308,000 and EBITDA of $103,000 and is being offered for sale, debt-free for $390,000. The owner of the center, who started this Center and who has been running if for the past 15 years, and who has been in the industry for many years prior to that, is looking to retire.
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