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MediEstates - Top 10 reasons for an up-to-date dental practice valuation
Top 10 reasons for an up-to-date dental practice valuation

New year, new start

TOP 10 REASONS WHY - Every practice owner should have an up-to-date annual practice valuation

Most practice owners tend to value their practice only when they are ready to make a change, which could be selling or refinancing the business, buying another practice of similar. Really savvy business owners value their practice(s) regularly, as this allows them to make more informed decisions about their (usually) most valuable asset and take action to improve its value.

 

  1. INCREASE PRACTICE VALUE – Measure your performance against other similar dental practice and identify opportunities to increase profitability and value of your dental practice.

 

  1. EMERGENCY EXIT STRATEGY – Protect the equity in your practice for your family, should the unexpected happen. It can make the difference between selling your practice and having it become unsaleable.

 

  1. FUTURE PLANNING – Develop a plan of action 5 to 10 years before you plan to retire or sell.

 

  1. ADDITIONAL PRACTICE ACQUISITION FINANCING – Many lenders require this to support a purchaser’s loan request and enable your ability to expand your ownership portfolio.

 

  1. ASSOCIATE/PARTNER ADDITION – To attract the best candidates who have a vested interest in eventual ownership. Need to determine the buy-in price and proof that the buy-in price is realistic for candidates.

 

  1. TAX PLANNING – Allows you to make the right choices for your business based on the budget driven changes and HMRC policy adjustments used to determine tax allocations.

 

  1. INSURANCE FUNDING – To ensure adequate insurance coverage.

 

  1. ESTATE AND FINANCIAL PLANNING – A critical part of wealth planning as well as thinking about funding your retirement.

 

  1. PRACTICE SALE/SET ASKING PRICE – An assessment of what your practice is worth in the current market will help you set a realistic asking price.

 

  1. PRACTICE MERGER VALUE – Be ready to decide or instigate a merger, so you are ahead of the game.

 

 

If the above resonates with you, MediEstates have been valuing practices for over a decade and the information from each transaction is part of the data used to value future transactions. As the largest dental practice broker in the UK market, we have our finger on the pulse to ensure you benefit from this experience.

For an up-to-date evidence-based valuation please contact the MediEstates team on 01332 609318, contact@mediestates.co.uk or visit www.mediestates.co.uk

Posted by: Maja Thompson on

General Buyer Terms 

This agreement is in relation to MediEstates Limited whose registered office is at 1st Floor, Pacific House, Stanier Way, Wyvern Business Park, Derby, DE21 6BF acting for and on behalf of our clients ("the Vendors"); and yourself (Buyer's Name) in relation for an introduction to a prospective sale of a business as a going concern. By registering through this agreement I agree to all terms set out below:

  1. Definitions
    In this Agreement the following terms and phrases shall have the following meaning unless the context otherwise requires:

    Business
    Dental Practice business providing dental care. This business is under the MediEstates Ltd sale terms.
    Confidential Information
    Means the actual Vendors identity and all confidential information in respect of the Business, including, but not limited to, any ideas, business methods, prices, accounts, finance, marketing, research, development, manpower plans, processes, market opportunities, intentions, design rights, product information, customer lists or details, employees’ details, trade secrets, computer systems and software, and other matters connected with the products or services manufactured, marketed, provided or obtained by the Vendor, and information concerning the Vendor’s relationships with actual or potential clients or customers and the needs and requirements of such clients’ or customers’ operations.
  2. Obligation of Confidentiality
    The Prospective Purchaser agrees to treat as confidential, information supplied by or on behalf of the Vendor in connection with the sale of the Business.
  3. Exclusions
    The obligation of confidentiality set out in clause 2 does not apply to:
    1. any information received from a third party who was legally free at the time of disclosure to disclose it;
    2. any information which was already lawfully in the Prospective Purchaser’s possession prior to receiving it from MediEstates Ltd on behalf of the Vendor; and
    3. any information which is in its entirety already in the public domain.
  4. Duties of Prospective Purchaser
    1. The Prospective Purchaser shall take such a reasonable security measures to protect the Confidential Information and trade secrets.
    2. The Prospective Purchaser shall not, without the prior written consent of the Vendor, permit any of the Confidential Information:
      1. to be disclosed, other than in confidence to its legal or professional advisors;
      2. to be copied or reproduced;
      3. to be commercially exploited in any way;
      4. to be used for any purpose other than in connection with the prospective purchase of the Business;
      5. MediEstates is registered under the Data Protection Act 2018. Upon Signing this agreement you agree to follow the legal obligations of this act to protect the details of the information supplied to you, with it no to be passed outside of the control of you the prospective purchaser.
    3. The Prospective Purchaser agrees to keep a record of Confidential Information received.
    4. The Prospective Purchaser will return to MediEstates or the Vendor all documents containing Confidential Information and all copies of those documents on demand at any time which are in its possession or under its control, and for this purpose the term “documents” includes computer discs and all other materials capable of storing data and information. The Prospective Purchaser agrees that such documents remain the property of the MediEstates on behalf of the Vendor.
    5. The Prospective Purchaser must not jeopardise or re-direct the sale under any circumstances.
    6. The Prospective Purchaser must not contact the Local Area Team or CCG regarding any practice sale, by any means of media unless written permission is granted from the Vendor.
    7. To carry out own due diligence on practice purchases and accepts that any information MediEstates has supplied is information provided by the vendor and is not responsible for its accuracy or completeness.
  5. This Agreement
    The existence of this Agreement and its terms are confidential and neither MediEstates nor the Purchaser may disclose anything about this Agreement or its subject matter or implementation to any person other than in confidence to their legal or professional advisers.
  6. Duties of Prospective Purchaser
    When buying Dental practices, finance is normally needed. Our organisation operated over more than one of the MediHoldings brand, by completing this from you agree that the information can be shared to our other organisations to avoid the need to register independently and provide the best possible service.

    MediEstates will refer you to the specialist dental lending team and MediFinancial who will contact the necessary banks, whom have preferential healthcare lending rates in some cases, to ascertain which funding is available to you.
    By signing this agreement you do not have to use any of the banks MediFinancial contact, it is just another service which we provide.
  7. Deposit for Dental Practice
    If you are interested in putting forward a formal offer in for a practice, once the offer is accepted there will be a deposit required to secure the practice sale which is dependant of the practice size. This deposit is held in a client account and will be returned to the buyer on completion of the practice sale. You the buyer, will be required to sign a deposit schedule which will cover the buyer and the seller in the event that the practice sale does not proceed.
  8. Changes to this Agreement
    Any changes made to this agreement must be authorised and signed by one of MediEstates Ltd Directors.
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