Obstetrics and Gynecology

Assume a practice with gradual buy-in from 71 year old OB/GYN seeking to retire and give over his solo practice in Salisbury and West Ocean City, MD. He stopped doing OB in 2003.In 2003 the business took in 1.2 million in cash. That last year he did 467 deliveries with two midwives. He has a successful practice since 1968. He moved into a 2400 sq. ft. office in 2003 has a lease until 2008. The monthly lease is $2560. including sono, videl colpo, furniture, etc. worth about 70k. He is working five mornings per week and shares a second office with a CRNP in West Ocean City on Fridays only. The area is in great need for obstetricians. There are 11 obs doing about 2200 deliveries. There is a group of six. The others are in solos two men and three females that rotate call which comes to every fifth weekend on call. Peninsula Regional is a 400 bed trauma center with 13 LDRs and two CS rooms. Level II nursery with 24/7 neonatologist and anesthesia. All charting is electronic. Fetal monitoring is done remotely via internet. He would like to stay 3-6 months and help in transition. He would share expenses equally when physician becomes profitable which he thinks would take a month or two. He has two loans of 63K and 78K which at some point would be the buy in. These require $1100 per month. He would leave ARs which run about 90K. In 2003 the business took in 1.2 million in cash. The business is there if one wishes it. He has about 10,000 charts and sees 2000 gyn only patients a year now. The physical assets are included. Salisbury is a wonderful town with a large University, Salisbury University. The GYN oncology is handled by two certified gyn oncologists who run a clinic and allow the OBGYN to scrub in with them. There are three radiation treatment centers locally. If this is of interest to you let me know and I can give you his number to call and send your CV to him.