Tech–3404: Open MRI Imaging Center in Excellent Urban Location in Oregon
Turnkey, Super Conducting Magnet with Sharp Images, Only Open MRI in Neighborhood
This Center under the new ownership started seeing patients only since December 2019. The current owner used to be MRI technologist and worked at the Center for about 19 months before the previous radiologist owner, closed down the Center to consolidate his business at his other centers as he was more focused on his CT-guided procedures being performed at the other centers. The current center at that time were seeing 6-10 patients a day.
The current buyer bought this Center which had remained closed for several months under brand new corporation and had to get all necessary credentialing including ADI, and insurance contracts including Medicare and BC/BS from scratch.
SUPERIOR MAGNET, EXCELLENT IMAGES, TOP-TIER SERVICES
The IAC-accredited Center has a Hitachi Altaire 0.7T superconducting open MRI machine which takes images superior to 1T open magnets and has the highest tier service contract with Hitachi that covers 100% Helium expense. Moreover, the Company has onsite PACS server, EMR system and high-speed network and everything is offered debt-free. The total asset value of the Center including its magnet, installation, and credentialing is $827K
EXCELLENT OPPORTUNITY TO EXPAND
The Center is running, turnkey, and the only open MRI center in the neighborhood in a busy shopping center, close to highways, light train station and highways. Moreover, it has enough space to add other modalities and has architectural drawings ready to bring in a CT scanner.
REASON FOR SALE
The delays in getting some of the credentialing followed by the slow-down due to Covid-19 pandemic has created a challenging environment for the current owner and hence he is looking to sell the center or partner with a strategic buyer, such a radiologist or another center, that can help grow the business. Seller is willing to work and manage the center and can also help bring other employees.
Currently, the Center is operational but with minimal revenue since it has not made much outreach to the referring physicians and COVID-19 has slowed down the business. Since it only started seeing patients since December 2019, the revenue is minimal. It is therefore priced at $650K, and significantly below its asset value of $827K. The seller is also willing to partner with a strategic buyer (radiologist or another center) that can help grow the business.