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Tuesday, January 1, 2013

Dental Practice Valuation as a Key Factor in Purchasing a Practice

When my partner decided to retire from his dentistry practice, it was but natural that he wanted to sell his portion to me. In turn, I felt it only proper that I should be the one to buy out his share as the two of us were the original founders of the clinic. His planned retirement was timely because my son was starting on a practice of his own and I was already planning on bringing him into the practice. I felt he had a better chance of establishing his own practice if I gave him a jumpstart by taking on a portion of my practice. I was not getting any younger myself and someone would eventually have to take over.

While my partner and I have been longtime friends as well as partners, I wanted the purchase of his share to be fair and above board in all aspects. I suggested that we get professional assistance for the dental practice valuation of his share of the business so that we have a springboard from which to negotiate the price of the sale. A colleague who had recently sold his own practice suggested a well-regarded expert who came up with a dental practice valuation of his practice. I immediately consulted the expert who promised to come up with a report in no time. My partner and I were both satisfied with what the expert came up with and the figure he gave us established the rationale for the purchase price we eventually agreed on.

1 comment :

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