The Destinations Medical Group | Application Preview
-
General Information
Business Registration Number: 01
Location: Missoula, MT, United States
Length of Operation: 1-5
Number of Employees: 11-25 Employees
Annual Gross Income: $1M to $10M
Annual Gross Expense: $1M to $10M
Open to Loans: YES
-
Funding Usage
The Destinations Medical Group has recognized a unique opportunity. There are a number of high-quality independent physician owned medical practices for sale across America as from a generation of physician approach retirement age. Many of these physicians would like to sell their practice to a promising new physician or, physician led organization like The Destinations Medical Group, rather than private equity. Our vision is to continue acquiring high-quality physician practices and building them onto into our network in order to further build our economies of scale and pass a portion of these savings onto our customers. We would like to create a conglomerate network of medical practices that are affordable for the average American. I would like to apply for grant funding to further develop and refine our internal practices to boost our efficiency. We will use these funds to attract and hire talent in the industry, further improve our operations and, continue our research into how best to acquire, redesign and integrate additional independent medical practices into our management services organization.
-
Business Plan
I would like to think that my area of expertise is valuing medical spas. I regularly peruse business broker website such as BizBuySell or BizQuest and when I come across a promising, independent medical spa I reach out to the business broker for their confidential brief. I perfer Spa's that include real-estate but it isn't a dealbreaker. If the numbers and opportunity are favorable I'll arrange a visit and, if I like the retiring owner and the purchase makes sense I'll make an offer. My goal is to be successful over a lifetime. This is not a rich scheme. I have acquired three practices successfully since 2020 and have been working on building our management services organization (The Destinations Medical Group) since 2022. We’ve been able to substantially reduce our cost of good sold and are passing a portion of these savings on our customers. Customers love us and we’re growing steadily you’re over year. I plan to continue this model for the foreseeable future. We continually save money for the down payment on the next business. The bottleneck is funding as most high-quality practices are somewhere between $1 million to $3 million. This is a sizable amount of money but, if I can secure a 10%-15% down payment I can usually acquire the additional funds. However, I would like to find a way to supercharge this process. Investor should invest both in The Destinations Medical Group and myself as we both have a proven track record of success. The Destinations Medical Group has demonstrated proof of principal as we have successfully strung three practices together and are growing year over year. We have a great team and have all of the tools in place to continue our path to success. I am also a proven entity. I am double board-certified and internal medicine and emergency medicine and have nearly fifteen years of full-time clinical experience. I also have a great passion for the aesthetics industry. The global aesthetic medicine market size was valued at USD 127.11 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 14.9% from 2024 to 2030. This is a proven industry that continues to grown in popularity and with a wider and wide demographic. We have the right team, a proven process, and are in a popular and expanded industry.
-
Self Identified Competition
From the prospective of The Destinations Medical Group I don't believe we have any competitors as I am not aware of any other other management service organizations that connects multiple independent practices. However, from the prospective of each individual clinic we have a number of competitors. Any successful Medical Spa is a potential competitor. However, the beauty of The Destinations Medical Group is that are able to leverage the purchasing power of three successful clinics to drive down our prices and optimize our efficiency of operations. This gives us a durable competitive advantage. I hate to repeat myself, but, what makes us different from our competitors is that we have a management service organization that connects three successful clinics. This allows us to optimize our internal processes, substantially save on our cost of good sold and, pass a portion of this onto our clients. It also gives us unprecedented access to training and education. However, one further thing that may differentiate us from our competitors is that I am a double board-certified physician with years of clinical experience. One of the problems with the medical spy industry is that it has low barriers to entry. However, very few practices are staffed and managed by an experienced physician. This given patients confidence as I bring many years of professional experience to our operation and this helps to separate us from the nearest competition.
-
Contact Applicant
Subscribe to our Administrator Dashboard to gain full access to this application. Learn More
