The Practice Companies August DealBook
The Practice Companies - Real Estate & Practice Sales
We specialize in supporting healthcare professionals with practice sales and real estate solutions.
AUGUST 2024 NEWSLETTER
August has been a busy and rewarding month for The Practice Companies - Real Estate & Practice Sales team! Our dedication to supporting healthcare entrepreneurs in securing prime real estate and achieving profitable exits has paid off with several key deals. Here’s a look at what we’ve accomplished and how we’re helping our clients succeed.
Deal Highlights - Real Estate
Our Practice Real Estate Group team specializes in healthcare real estate, providing services like site selection, data-driven analysis, lease negotiation, and purchasing. Here are some of our latest wins:?
Single location Real Estate Deals
Multi-Location Real Estate Deals
DECA Dental Group , a leading Dental Service Organization based in Dallas, Texas, continues its rapid growth with over 70 offices across the state, including brands like Ideal Dental. Committed to making quality and affordable dental care accessible, DECA emphasizes ongoing training, education, and mentoring for all its doctors, ensuring exceptional care for the hundreds of patients visiting daily.
Thrive Medical Clinic, with locations in North Austin and Leander, offers a comprehensive range of primary care services, including cancer screenings, well-woman exams, chronic disease management, STI testing, sick visits, weight loss management, minor procedures, hormone therapy, and vaccinations.
Deal Highlights - Transitions
Our successes extend beyond real estate—our team has been thriving in practice sales as well. Here’s a recent highlight:
DFW Metropolitan Area Practice Sale
Michael Platt served as the exclusive sell-side representation of a well-established practice in the booming Dallas-Fort Worth area. This healthcare provider has been serving DFW families since 1983 under the same ownership, and its growth potential was a key factor in the sale. With a steadily increasing patient base, this practice presented an attractive opportunity for its new owners. The beautiful building was also part of the transaction.
Austin-area MedSpa Owner's Successful Transition
Thomas Allen and Lauren Wheeler also served as the exclusive sell-side representation of an Austin area med spa. The seller wanted a buyer who would allow her to continue contributing to the business while stepping back from management duties. With her national presence and industry contacts, she is now positioned to focus on growth as an employee and potential investor, alongside the new ownership.
These successful transactions underscore our dedication to aligning our clients with buyers who share their values and vision, ensuring smooth transitions and continued growth.
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What It’s Like Working With Us
Hiring Todd Stanley with the Practice Real Estate group was the right decision on many levels. From the beginning of our search, he did an excellent job of keeping us informed, sharing information, presenting options, and managing expectations. Todd was professional and super accessible and responsive. He found the perfect balance of pushing and patience to get our deal closed with terms we required.
Further, Todd is more than a real estate agent: he surrounded us with capable and professional referrals, many of which have been invaluable partners for the startup. I would work with Todd again in a heartbeat and am very grateful to have him in our corner.
- Jason Brummerhop
“I was not sure what my practice was worth. Mike helped me sell it to a quality physician at a reasonable price. A great experience.”
- Charles Cook
“I cannot recommend this team enough. Not only did they help get me the best deal imaginable, they also found me the perfect buyer. I’m thrilled that Practice Transitions Group was on my team. For anyone that has gone or is going through a business transition, the process can be arduous and at times extremely stressful. Thomas and his team held my hand through the whole process and never BS’d me about what we were running into.
If you’re thinking about going through a sale or transition by yourself, you’re going to leave something on the table and it will get rocky during and after. Do yourself a favor and get this team on your side.”
-Max Kerr
Events We're Going To
Poll results?
Last month we asked our audience what they thought the number one way practice owners convert referrals was. We were excited to see that 62% of industry professionals got it right. Here are those results...?
One of the least expensive ways of developing a MedSpa marketing strategy that has some of the highest returns on investment is Google reviews.? It's not just about having a high rating. And it's not just about having a good volume.? It’s about the consistency by which the reviews are populated.? The ratio that we advise practices to shoot for is a five to 10% return rate of new Google reviews compared to how many patients they're seeing in a given week. It's that newness, that freshness that helps with Google visibility.?
Team Behind the Success:
Our experienced advisors and brokers know how to get the job done. We provide clients with results aligned with both short and long-term goals.
Stay connected with us:
Start, grow, and exit your practice with The Practice Companies. Our experts have you covered on both the Real Estate and Transitions front. To learn more, contact us.