Rare opportunity to acquire a 28-year-old, physician-founded internal medicine practice in the Phoenix metropolitan area — anchored by 2,128 assigned Medicare lives, a strategically valuable asset in primary care today.
THE INVESTMENT THESIS
This practice has organically built a deeply entrenched Medicare panel over 28 years, without any value-based care (VBC) contracts. For a financially sophisticated acquirer — private equity platform, MSO, or health system — this creates clear, executable upside:
• 917 Medicare Advantage lives available for capitated or risk-bearing arrangements with MA plans
• 1,211 traditional Medicare beneficiaries eligible for MSSP/ACO participation; attributed beneficiary volume exceeds minimum ACO thresholds
• No current ACO or VBC contracts in place — all value-based upside is fully incremental for a new owner
• Complex chronic disease patient mix (diabetes, hypertension, COPD, cardiovascular disease): favorable Risk Adjustment Factor (RAF) profile
• Standard post-acquisition value levers available: HCC coding optimization, Annual Wellness Visits, Chronic Care Management (CCM), Remote Patient Monitoring (RPM)
PRACTICE AT A GLANCE
Founded: 1998 | Specialty: Internal Medicine | Location: Phoenix Metro
2025 Gross Revenue: $2,205,889
2024 Gross Revenue: $2,039,799
Offering Price: $2,700,000
Payor Mix: Medicare 27% | Commercial 72% | Cash <1%
EMR: eClinicalWorks (since 2005)
Providers: 3 Physicians (MD) + 3 Physician Assistants (PA-C)
New Patients: ~84 per month
MARKET CONTEXT
The Phoenix-Tempe-Mesa metro is among the fastest-growing markets in the U.S., with a steady in-migration of retirees and pre-retirees that directly supports long-term Medicare panel growth. The supply of primary care physicians continues to lag behind demand nationally, and the ongoing transition of local physicians to concierge models has reduced access to traditional primary care options in this corridor — creating sustained new-patient demand for an established practice with 28 years of community relationships.
CLINICAL TEAM & CONTINUITY
The clinical team comprises a founding physician and two additional MDs, supported by three physician assistants with an average of 11+ years of experience. Two of the three physicians plan to remain post-close under employment agreements — materially reducing patient attrition risk and ensuring clinical continuity through the ownership transition.
TRANSACTION STRUCTURE
Offering Price: $2,700,000
Cash at Close: $2,200,000
Seller Note: $500,000 — secured by practice assets and corporate guaranty of acquiring entity
Accounts Receivable: Excluded (retained by sellers)
Earnest Money Deposit: $25,000 minimum
Qualified institutional buyers are invited to execute an NDA to receive the full Confidential Information Memorandum and access to the financial data room.