Orthodontics Practice for Sale in West Suburbs of Chicago, IL

What this listing does and doesn't tell you

• No asking price. Ask the broker for it, and for the terms the seller wants.
• Reported collections of $1,200,000, as the broker states them.
• Size and reach: 5 operatories, 513 patients.

asking price, adjusted net / profit, new patients per month, lease terms, rent, staff size, year established, software and technology, reason for sale. A blank is not bad news, it is a question for the broker.

• How the adjusted figures were built. Add-backs are adjustments, and each one should have a document behind it.
• Whether collections match the tax returns and the practice-management reports.
• How much of the production comes from the owner, and what happens to it after the owner leaves.
• Lease renewal options, who must consent to an assignment, and the landlord's history.
• Payer mix, how "active patient" is defined, recall and hygiene numbers.
• Equipment condition, staff contracts and compensation, and any pending issues.
• The practice name and address. The broker keeps these confidential until their own NDA.

This is a plain reading of the page, not advice and not a valuation. Your CPA, attorney and lender check the rest.

Questions to ask the broker

1. What is the asking price, and what terms does the seller want?
2. What is the owner's compensation and what are the practice's net earnings after a fair doctor salary?
3. Do the collections match the tax returns and the practice-management reports for the last three years?
4. What share of production is the owner's own, and what is the transition plan?
5. What are the lease terms, the renewal options and the landlord's consent requirement?
6. How is "active patient" defined, and what is the payer mix?
7. Which equipment is owned, leased or near replacement?
8. What is the process and timeline from here, and is there a deadline for offers? Why?
9. How are you paid, and do you represent anyone other than the seller in this sale?

Your questions go straight to Rex Plamann; we never see them. Save notes on this practice in your workspace above, then take the same list to your CPA.