Profitable Multi Modal Imaging Center For Sale

Business description

This is an excellent opportunity to acquire a very profitable, well-established, well-run, multi-modal imaging center in a busy North East metro area. This ACR-accredited facility provides MRI, CT, ultrasound and X-ray services and has room to expand into other services such as PET scanning.

State License, CareCore and Wide Network of Insurances
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The facility comes ready with necessary build-out ($300k value), NJ State license that can typically take 1 1/2 years to acquire once the facility is built, a Medicare provider number (which can not be applied for until one gets a state license and will take further 6-8 months to receive). Even more importantly, the business is a CareCore provider, which is essentially closed to new applicants, and as a result, it also comes with contracts with an extensive list of of over 70 insurance carriers that can be accepted.

Assets
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• Hitachi Airis I 0.3T Open MRI (purchased in 1999)
• GE HiSpeed LX-I CT Scanner (installed in 2002)
• Acuson 128 XP/10 Ultrasound System
• Bennet X-Ray (installed in 2000)
• $450K Buildout cost for above starting from scratch (leasing to working with the state)
• Real Estate Assets: Land and stand-alone building in a busy commercial area: Valued at $1.2 million (included in sale)
Reason For Selling
The owners have been very successful in running this business for over a decade and want to pursue other business interests.
Financials
Equipment and Build-out cost: ~$500K
Mortgage Payment: $12,240/ month ($146,880 per year)
Gross Revenue: $1.33 million (projected 2011 based on 6 months), $1.2 million (2010), $1.32 million (2009); $1.33 million (2008)
Seller's Discretionary Cash Flow : $537k (2011 projected from 6 months), $420k (2010), $547k (2009); $526k (2008)
Asking Price: $2.5 million (with real estate valued at 1.2 million)

Property information

Real Estate:

Real Property Included