Gray·Duffy Completes Sale of Deceased Client’s Medical Practice

August 2011

Overview

Mike Eisenbaum of Gray•Duffy’s Encino office successfully negotiated the sale of client’s ophthalmology medical practice after the owner passed away.

Discussion

Gray·Duffy represented a client in the successful sale of his ophthalmology practice. The client had originally arranged the sale of his medical practice to another ophthalmologist who delayed making any actual offers for the purchase of the plaintiff’s practice. During this time, the client passed away, leaving his widow to complete the transaction. With the assistance of Mr. Eisenbaum, the practice was ultimately sold to a different ophthalmologist although the initial buyer finally made an offer. The client’s widow preferred selling the practice to the second physician who demonstrated superior medical skills and offered a higher price than the amount offered by the first physician. Private practices are a very profitable option for experienced physicians which is why there is always a battle when it comes to selling them. When it comes to setting one up from scratch, you can compare practice finance loans to make it more affordable for you, which is an alternative option.

Please Note: This article is necessarily general in nature and is not a substitute for legal advice with respect to any particular case. Readers should consult with an attorney before taking any action affecting their interests.