Oral & Maxillofacial Surgery Practice, 35-Year Kentucky Office

$2.1M

Revenue

$1.7M

SDE

Subscribe Free

Read the full deal writeup

Get Free Access

Already a member? Sign in

Full Editorial Writeup

This is a single-doctor oral and maxillofacial surgery practice in Kentucky that has operated for 35-plus years, generating $2.14m in revenue and $1.65m in owner cash flow. That is a 77 percent SDE margin, which is exceptional even by specialty-surgery standards, and reflects a lean operation: six full-time staff, a 2,090 square foot leased building, and just $70,000 of FF&E. The practice specializes in extractions, dental implant placement, and corrective oral surgery, positioning it as a go-to surgical referral destination in its market.

The revenue engine is referral-driven. General dentists across the region send patients who need surgical procedures they cannot perform in-house, which gives the practice a steady, low-marketing-cost flow of high-value cases. Collections were $2.09m in 2025 and $1.078m through June 2026, so the top line is holding and modestly growing even in the seller's final years. The business runs only four days a week and is described as maxed out in its current footprint.

The obvious catch is that this is a doctor-dependent practice being sold because the surgeon is retiring. Oral surgery requires a licensed OMS to produce the revenue, so a buyer is really buying a referral network, a brand, and a staff, then plugging in one or more new surgeons. That reframes the deal: the value is durable if referral relationships transfer and a capable OMS steps in, and near-zero if they do not.

Why we like it

Earnings quality is elite for the size: $1.65m of cash flow on $2.14m of revenue is a 77 percent margin, and collections data ($2.09m in 2025, $1.078m through June 2026) suggests real, verifiable cash rather than accrual games. Specialty surgical procedures like implants and extractions are high-ticket and largely cash or predictable insurance pay.
The moat is a 35-year referral network built from dentists across the region who cannot perform surgery in-house. That referral flow is sticky, low-cost to maintain, and hard for a new entrant to replicate quickly, which is why this office is one of the most profitable providers in its market.
Oral surgery is durable, non-discretionary demand. People need extractions, implants, and corrective surgery regardless of the economic cycle, and much of it is medically necessary, so the top line should hold through downturns better than elective or cosmetic categories.
The cost structure is lean and asset-light: six staff, a $2,900 per month leased building, only $70,000 of FF&E, and the practice runs just four days a week. A buyer can add a second surgeon and additional operating days without heavy capex, so there is clear operating leverage on an already-fat margin.

How to improve it

Lock in the referral base before anything else. In the first 90 days, meet the top referring dentists in person with the incoming surgeon, formalize the relationships, and track referral volume by source so you can defend and grow the pipeline the practice depends on.
Solve the doctor-dependency by recruiting or partnering with a credentialed OMS on day one. If the buyer is not a surgeon, structure an associate or partner arrangement with earn-in economics so revenue does not walk out the door with the retiring owner.
Expand operating days beyond the current four-day schedule. The office is described as maxed out in its footprint, so even one additional surgery day per week, or extended hours with a second provider, could meaningfully lift throughput on fixed overhead.
Relocate to a larger facility to add operatories and surgeons, as the listing itself flags. The current 2,090 SF building has a single operatory, which is the binding constraint on volume; a purpose-built multi-chair suite unlocks the growth thesis.
Add adjacent surgical and dental services such as bone grafting, sedation options, or in-house imaging to raise revenue per patient and capture procedures currently referred out. These extend the existing referral relationships rather than requiring new customer acquisition.
Tighten payer mix and fee schedules. Renegotiate insurance contracts and audit collections to ensure the practice is capturing full reimbursement on high-value implant and surgical codes, which drops straight to an already high margin.
Build a light marketing and web presence aimed at referring dentists and self-pay implant patients. A practice this profitable has likely underinvested here, and a modest CRM plus referral-partner program could diversify the pipeline beyond word of mouth.

Diligence notes

Quantify doctor-dependency precisely. Determine what share of the $1.65m cash flow is the surgeon's clinical production versus transferable business value, and model the economics of replacing that production with a hired or partner OMS including their compensation.
Verify the referral concentration. Pull referral volume by referring dentist for the last three years; if a handful of dentists drive most cases, the buyer inherits meaningful churn risk when the founding surgeon leaves.
Reconcile the collections figures against tax returns and bank deposits. The listing cites $2.09m 2025 collections and $2.14m gross revenue, so confirm which is the defensible number and validate the 77 percent margin with payroll, lease, and supply cost detail.
Confirm the lease and location strategy. The $2,900 per month lease is transferable, but the growth plan requires relocation; assess lease term, assignability, and the cost and disruption of moving referral patients to a new site.
Check credentialing, licensing, and payer enrollment portability. An incoming surgeon must be licensed in Kentucky and re-credentialed with payers, which can take months and delay cash flow, so map the timeline and any interim coverage arrangement with the seller.

Source

Originally listed on BizBuySell. View original listing →