Buying a medical practice is a process that must be handled with precision. From initial negotiations to the closing of the sale, there are many steps that come with their own potential pitfalls and obstacles. Attorney Joe Hess is an expert in the field of practice acquisition and whether you already own a practice or are a first-time buyer, he can help.
The Legal Process
Our office can assist you with every step of the practice acquisition process. Whether you’re an associate already involved with the practice you’re trying to buy or you’re purchasing a new practice from a third party, Joe Hess Law Firm can help you navigate the purchase of this substantial asset.
When you buy a medical practice, you’re not just acquiring a new office space. It’s a big investment with multiple facets that make the purchasing process less straightforward. There are many legal components to consider when buying a new practice, including:
- Forming a legal entity
- Pricing negotiations
- Financing
- Representations and warranties
- Lease negotiations or transfers
- Tax considerations
- Non-competition clauses
- Insurance issues
- Patient medical record acquisition
- Closing and post-closing negotiations
Both the buyer and the seller of a medical practice must consult a legal professional before signing any binding contracts. If you’re interested in selling your medical practice, read more about our services here.
A healthcare attorney can ensure that your purchase goes through without running into any loopholes or unfair terms that could cause you to lose out in the end. Our office can help you with any legal or operational issues that come up during the acquisition process.
Don’t consider purchasing a practice before talking through the legalities with. Attorney Joe Hess. He is here to negotiate the best terms for your practice acquisition.