Clinics and healthcare businesses for sale

What you are really buying when you buy a clinic

In a clinic the fixed assets are usually the least decisive part. What holds up the price is the recurring patient base, the reputation of the practitioners, the location and, above all, the health authorisations of the centre. Cutting-edge equipment can be bought; a health authorisation in force with an established activity at the same address cannot always be.

That is why deals in this sector are usually structured as a purchase of shares in the holding company rather than as an asset purchase: transferring a health authorisation to a new holder can require a lengthy procedure before the competent regional authority, whereas if the company stays the same, the authorisation stands.

What we review in a clinic before you reach the table

Due diligence on a healthcare centre has layers that do not appear in other sectors, and they explain much of the difference in price.

• The centre health authorisation, the authorised service portfolio and whether it matches the activity actually carried out
• Qualifications, professional registration and contractual status of the practitioners, and what happens to them after the change of ownership
• Dependence on a specific practitioner: if patients come for a person, the value leaves with them unless a lock-in is agreed
• Condition and financing of the equipment, with any outstanding leasing arrangements
• The lease on the premises, remaining term and whether assignment is allowed
• Health data protection, the most sensitive category, and traceability of clinical records
• Claims, professional liability and insurance cover

Where the market moves

Madrid and Barcelona concentrate most aesthetic medicine and dental transactions, with prices above the national average and competition from groups growing by acquisition. In mid-sized cities multiples are lower, but so is competition for the asset, and a well-positioned clinic can perform better.

We run transactions across Spain from our Barcelona base, and circulate opportunities among domestic buyers and international investors alike, who are particularly active in this sector.