Listing Number: 71701-623024
Unique opportunity to acquire a very profitable 25 year established, Orange County based Medical Research Center with an impeccable reputation for quality performance and results. The center is located in a highly populated area, within 30 minutes of Los Angeles, Riverside and San Diego Counties. CRO/Sponsors of studies is a Who’s Who List of major pharmaceutical companies. The CRO/Sponsors repeat placing business studies based on their cyclical priorities and budgets and due to their confidence in the handling of their placements. The following unique differentiators also explain why our client wins consistent and repeating study placements:
• Depth of experience including completing 153 studies since 2003
• Specific expertise in diabetes and related diseases e.g. weight loss, hypertension, neuropathic pain and high cholesterol
• Emphasis on quality control and clean FDA audit history
• Consistently growing database of 15,000 patients with detailed and updated Meta Data points
• Quality of data captured along with study results provided
• A consistent top 3 ranking among peer competitive research centers
Near Absentee and Semi-retired MD- Seller has scaled back over past 5 years and currently only works in the business 4 hours per week. Two senior level experienced MDs split the Principal Investigatory duties working three days per week. At current level of 10 – 15 concurrent phase 2-3 studies, one full- time MD could potentially cover all of the MD responsibilities over a 5 day work week. Additional skilled and seasoned staff include Marketing and Recruiting Director, Business Manager and three to four Study Coordinators.
Most patients live within a reasonable drive time of the facility and participating patient visits average 6 -8 per day. Approximately 30% of the patient visit is related to clinical investigation MD process while the Coordinators process the Investigational product and the administrative portion of the visit by compiling notes, processing documentation, ensuring quality control, and entering accurate data into the EDC System. Opportunities to expand and grow the business include increased investments in additional marketing resources to continue to approach new sponsors to acquire new studies, grow the patient database and expand the geographic footprint of the business by opening satellite offices in strategic locations throughout Southern California.
Seller will provide buyer with excellent lease terms and turnkey office facility consisting of 7 exam rooms and more than 5,000 square feet in a recently upgraded medical building. Sellers are willing to fully support an ownership transition at mutually agreeable terms.
- Price: $4,200,000
- Down Payment: $3,150,000
- Sellers Discretionary Earnings: $793,256
- Total Sales: $1,900,000
- Location: Orange County, California
- Inventory: $0
- FF&E: $38,000
- Employees: 7
- Year Established: 1996
- Reason for Selling: Retirement
- Category: Medical Related Biz