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Profitable | Staffed | Licensed DME SupplierThis well-established physical therapy and chiropractic practice offers a rare opportunity to acquire a fully operational rehabilitation center with diversified revenue streams and significant growth flexibility. With 25 years of community presence and a strong reputation for patient-centered care, the practice is positioned for immediate continuity and expansion.Approximately 40% of revenue is derived from personal injury cases, creating a steady and highly profitable income stream. The practice is well-positioned and easily marketable within the personal injury sector, offering a strong referral foundation and consistent case volume. A new owner may continue operating as a PT-focused rehabilitation clinic, expand the chiropractic division, or further grow the personal injury segment for enhanced revenue potential.The business is fully staffed with an experienced and qualified team expected to transition seamlessly, ensuring uninterrupted operations from day one.In addition to being contracted with major medical payors, the practice is an approved and licensed Durable Medical Equipment (DME) supplier, with home medical licenses included—an important competitive advantage for treating and supplying injury-related cases.The current owner is committed to a smooth transition and is willing to provide training and support.Business Highlights25-year operating history with excellent reputation~40% revenue from personal injury cases with strong growth potentialContracted with major medical insurersApproved and licensed Durable Medical Equipment (DME) supplierHome medical licenses included for injury-related servicesFully staffed with 9 experienced employees transferring with saleComprehensive service offerings including:Chiropractic carePhysical and orthopedic therapySports rehabilitationCupping and dry needlingLaser therapy and shock wave therapyTraction and vestibular therapyExtensive FF&E included:Chiropractic tablesRehabilitation and therapeutic equipmentLaser and shock wave therapy machinesDiagnostic and X-ray machinesUltrasound equipment and specialized instruments9 computers and related office systemsWell-established website and strong patient visibilityGrowth opportunities through expanded appointment hours, additional providers, and targeted personal injury marketingThis opportunity offers operational stability, diversified income streams, and multiple strategic growth paths—making it ideal for a practitioner, multi-location group, or investor seeking a scalable healthcare platform with strong personal injury positioning.
Why we like it
- Earnings quality is genuinely strong: $590K cash flow on $1.3M revenue is a 45% margin, which is well above typical PT/chiro comps and signals disciplined cost control plus favorable reimbursement. The 2.37x multiple on that cash flow is cheap for a diversified, 25-year clinical practice with hard assets and licenses included.
- The DME supplier license and home medical licenses are a real moat, not marketing language. Being able to supply and bill equipment in-house rather than refer it out adds high-margin revenue and creates a barrier that a new competitor cannot replicate quickly, especially in the injury-treatment lane.
- Healthcare rehab is durable through downturns because people still injure themselves, get in car accidents, and need treatment regardless of the economy. Personal injury volume in particular is tied to accidents and litigation, not consumer discretionary spending, so this revenue stream holds up when the cycle turns.
- The 25-year operating history and 9-person transferring team mean an owner does not need to be a clinician to hold value on day one. A practitioner buyer gets an established referral base and payor contracts, while a multi-location group gets a clean bolt-on with existing PI attorney relationships.
How to improve it
- Audit and expand appointment capacity in the first 90 days by extending clinic hours and filling open provider slots. The listing flags underutilized hours, and every incremental treatment slot in an existing fixed-cost facility drops almost entirely to the bottom line.
- Build a formal attorney referral program for the personal injury segment. Since 40% of revenue already comes from PI, systematizing outreach to plaintiff attorneys and standardizing lien documentation could materially grow the highest-margin line without new fixed costs.
- Push DME attach rates on every eligible patient. The practice already holds the supplier and home medical licenses, so the marginal work is protocol and training to ensure providers capture equipment revenue rather than letting it walk out the door.
- Add a second or third provider to break the single-clinic revenue ceiling. With the facility, equipment, and payor contracts already in place, adding licensed clinicians is the fastest path to scaling revenue against existing overhead.
- Modernize patient intake and scheduling with online booking and automated recall for chiro and rehab patients. Recurring rehab and chiropractic care benefits from retention systems, and reducing no-shows directly improves capacity utilization.
- Evaluate adding cash-pay wellness and sports rehab packages to diversify away from payor reimbursement risk. The clinic already offers cupping, dry needling, and laser therapy that lend themselves to cash memberships and packaged programs.
- Renegotiate or expand payor contracts and add any missing major insurers. A rate review across the existing contracts plus adding underrepresented payors can lift effective reimbursement per visit with no clinical change.
Diligence notes
- Scrutinize the personal injury revenue closely, because PI cases are collected on liens and can carry long collection cycles, write-downs, and settlement risk. Pull an aging report and historical collection rates on PI receivables to confirm the 40% mix converts to real cash and is not inflating headline revenue.
- Verify the DME supplier license, home medical licenses, and all payor contracts are transferable to the buyer and buyer entity. Healthcare licensing and Medicare/DME accreditation often do not transfer automatically and may require reapplication, which could interrupt that revenue stream post-close.
- Assess how dependent revenue is on the current owner as a treating provider. If the owner personally generates a large share of billable visits or holds the key attorney relationships, the $590K cash flow may not survive the transition without a strong non-owner clinician earnout structure.
- Confirm compliance and billing integrity given the PI and DME exposure, both of which are heavily scrutinized areas for fraud and abuse. Review a sample of claims, documentation practices, and any prior audits or payor recoupments to understand regulatory and clawback risk.
- Break down the 9-person staff by role, tenure, and licensure, and confirm which credentialed providers actually transfer. Get retention commitments or employment agreements for the key clinicians, since the value here depends on the team staying intact.
Source
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