West Newcastle Medical your new local GP! Non DWS location in RRMA 2 suburb

About this business for sale

West Newcastle Medical your new local GP! Non DWS location in RRMA 2 suburb

The current GP owner is looking to reduce his driving commitment up and back from Sydney to Newcastle every Tues for an afternoon session. There are about 3.5x FTE GPs remaining at sale time, and they are receiving 70% of the pt fee split. Two of the current Drs here are accredited trainers. The owner is there every Tues afternoon and can do site visits before he heads back to Sydney at 5.45pm, so anytime after 5pm if he has no pts then. The area is about 100 metres squared. There are 7x CR’s and allied health (audiology, clinical psychologist, dietician + podiatrist) + Laverty pathology onsite + a nurse. 2x retained DWS provider numbers are currently in use. Pathology pays $4K to be in the clinic so additional income of $48K pa off sets the rent of $72K pa, meaning the real rent is only $24K and this is further off set by the allied health paying to be onsite.

The current lease of 5x 1 year lease options can be assigned to the new owner. The lease was at the current owner’s request to give him the option to get out easily if the business wasn’t working. The lady landlord would be delighted to offer a longer lease to the new owners. Current costs are $6K per month rent and outgoings of $500 per month, incl electricity and water etc.

If a Fellow of the college could buy this business, they could take over the supervision of the 2x GP’s that are still working towards Fellowship (GP3 registrars). The practice was purchased for $685K so the vendor is looking at $650K for a quick sale.

The Practice:

This Accredited Practice providing fully trained medical staff to assist with a full range of GP services. Accreditation audit took place in Aug 2018 so it will be valid for another 3 yrs. As an accredited clinic they are eligible for govt incentives and with a RN and an EN onsite to support the GP’s, the cl;nic attracts PNIPS for having these staff onboard. They can provide employment medicals to suit any employer’s requirements.

Appointments are available and some walk-ins are accepted.

​Services Offered:

  1. General Health
  2. Mental Health Care Plan
  3. Prevention & Wellness
  4. Immunisations
  5. Minor Ambulatory Procedures
  6. Woman’s Health
  7. Men’s Health
  8. Employment Medicals
  9. Podiatry (Fortnightly on Friday)
  10. Skin Care (Saturday pm Walk-ins only)
  11. Chronic Disease Management
  12. Health Assessment
  13. COPD & asthma care
  14. Family Planning
  15. Ear Syringing
  16. Flu/ Pneumonia Immunisation
  17. Urine Drug testing
  18. Work Cover
  19. Catch Up Immunisation
  20. Travel Medicine

This MC was established to provide general medical assistance to patients in the Newcastle West area. They are able to assist with the whole range of GP services, and are open 5.5 days a week. They are located in the same building as a podiatrist, for those patients need referrals to their services, and the local area includes the Newcastle West shopping centre which has several pharmacies available. The immediate area also sports radiology, pathology, dental, physiotherapy and psychology services.

As a mixed billing practice, bulk billing is provided to all patients with a valid Pension, DVA or Health Care card and full time students. Otherwise, the fees are $70 for a standard consultation and $90 for a long consultation, with a Medicare rebate of $37.05 and $71.70, respectively.

Ample parking is available on site and in the nearby area, with a major bus route passing down Hunter Street and stopping nearby. Patient’s can easily access the centre from neighbouring suburbs, including Hamilton East, Cooks Hill, The Junction, Hamilton South, Islington, Maryville, Carrington and Newcastle.

The doctors are available 5.5 days a week, from 8am to 6pm Mon to Fri and Sat is open from 1-4pm only. Booking an appointment is easy and can be done at any time using the convenient online booking service, as well as phone bookings. The F/T PM is accruing LSL, however the other staff are on a casual contract. There is one main reception person with 3x other part times. If required, it is envisaged that all workers with transition with the new buyers.

The accountant cannot provide a depreciation schedule since they don’t maintain an asset register for this practice. The schedule which is prepared is only for internal records. Capital fit outs based on valuation on purchase is $25,977 (this includes assets which cannot be removed etc). Depreciate assets based on valuation on purchase is $127,604 (this includes beds, reception, computers, printers etc). Total assets purchased under Dr Nim’s management is $36,143 (this includes new server upgrade, new chairs, other medical equipment) so $127,604 + $36,143 = $163,747 is the current value of the P+E in this clinic.

Please contact us for further information & photos.