Physician based clinical service expansion in the GTA
Medcorp is a company incorporated in Ontario operating for 16 months alongside the owners of 100018923 Ontario Inc. owners Dr. Gus Meglis and Dr. Mark Rotundo. Medcorp has driven new revenue of $162,000 a month on a profit margin of 22% and continues to grow it month over month.
About the company for sale
10018923 Ontario Inc. owns 4 clinic locations, and is 100% owned by Dr. Meglis and Dr. Rotundo.
Together the 4 clinics have 24 physicians on staff and we continue to expand monthly. The vision is to grow services available to the communities the clinics serve, and increase the revenue potential for clinics and physicians. Choose from the icons below to explore the four clinics, services and locations.
How the deal has been constructed
Medcorp is offering to buy 80% of the shares of 100018923 Ontario Inc.
Dr Meglis and Dr Rotundo are staying on as 20% owners (10% owners respectively) to work with Medcorp to grow this entire business over the next 10 years. Both remain actively servicing in practice and are not near retirement age.
Together Medcorp and 100018923 Ontario Inc. arrived at a $2.25 million CAD valuation based on existing $430,000 net profit per year. The group agreed on a ~5x multiplier consistent with the industry.
Therefore the purchase price of 80% of the shares of the Ontario Inc. is $1.8 million CAD.
Key documents provided
2.
The synergies and opportunities Medcorp brings to be able to act on with this group of clinics and physicians is significant. Medcorp has already added Cardiology, Endocrinology and Dermatology specialty clinics to the existing clinic locations.
Further, Medcorp maintains a pipeline of new doctors ready to join the clinics and provide them immediately with all facility, billing and support services.
Medcorp also places physicians in pharmacy clinics on a rotating basis, and continues to explore corporate health contracts for additional healthcare and service opportunities.
In the current environment, many if not most doctors want to practice, earn and go home. Medcorp’s model offers them an excellent venue in which to care for patients, earn a great living and improve the communities in which they serve.