Levy Zavet Lawyers is a leader in providing professional legal assistance for individuals in the medical and health industry in Ontario. We specialize in supporting medical, dental, optometry, chiropractic, and other medical practices during the critical stages of starting up, growth and expansion, purchasing or selling their practices or medical centers. With our extensive experience and strong industry connections, we are uniquely positioned to facilitate smooth and successful transactions for our clients. For nearly two decades, Jeff Levy has been involved in owning, operating, growing, buying, selling and managing medical clinics and practices for himself and others, working together with many health practitioners under uniquely branded services, well known as the Complete Medical Centres.
A Legacy of Facilitating Successful Medical Practice Start Ups
With nearly two decades of experience, starting up a new medical practice, clinic or center can often be daunting, overwhelming and complicated. Navigating the vast compliance and legal requirements for starting a new business, let alone one governed by the Ontario Medical Association and College of Physician and Surgeons of Ontario, requires experience and knowledge. At Levy Zavet, our lawyers can help Launch Your Medical Clinics by starting with helping you understand the following:
- Comprehensive needs assessment, your vision and mission;
- Financial planning, including budgeting and forecasting;
- Strategic site selection, leasing vs. ownership;
- Physician recruitment, associates vs. employees, contracts, splits and scheduling;
- Allied health partnerships, the dos and don’ts, working with pharmacies and pharma;
- Staff recruitment and training, should you hire nurses or nurse practitioners when physicians are scarce? Or lab technologists when nurses are too expensive?
- Training programs, not every medical clinics operates the same way;
- Marketing, complex and regulated;
- Billing services, what software to use, how to automate charting, patient notices, organizing law results and informing patients, changes to billing codes and seamless submissions;
A Legacy of Facilitating Successful Medical Practice Management
Levy Zavet understands that as owners, operators and managers, doctors are too busy to run a family practice and manage their own medical center. Clinic Management is often an impossible task. That’s where we can help advise and consult on optimizing clinic operations to enhance patient care and boost overall practice efficiency. We know that every clinic has its own unique set of needs, whether you’re a sole physician or part of a large group, our tailored management solutions ensure your clinic thrives without the burden of administrative complexities by advising, arranging and connecting you with the right services, outsourcing opportunities and professionals.
A Legacy of Facilitating Successful Medical Practice Transactions
As experts in healthcare business law, we understand that buying or selling a medical practice is more than just a business transaction—it’s a life-changing decision that requires thoughtful consideration and expert guidance. We take pride in our vast experience navigating these complex deals. Our strong connections in healthcare, finance, and real estate allow us to offer comprehensive support throughout the process, ensuring successful outcomes.
Understanding the Nuances: Asset Sale vs. Share Sale
When selling a medical practice, a critical decision is choosing between an asset sale and a share sale, each with its own set of implications in terms of taxes, liabilities, and future responsibilities.
- Asset Sale – In an asset sale, the buyer acquires specific business assets, such as equipment and patient records. This type of sale often benefits buyers, as it limits the assumption of liabilities and may provide tax advantages.
- Share Sale – This option involves the purchase of the company’s shares, transferring ownership of the entire business entity. Sellers often prefer this option due to potential tax benefits under specific conditions.
At Levy Zavet Lawyers, we provide detailed guidance on these options to ensure you make decisions that align with your financial and professional objectives.
Tax Implications: An Integral Part of Your Decision
The choice between an asset sale and a share sale has a significant impact on your tax obligations. Our team offers in-depth advice on the tax implications of each option, helping you understand how your financial standing will be affected. Our goal is to optimize your tax position while ensuring full legal compliance.
Tax Implications: An Integral Part of Your Decision
The choice between an asset sale and a share sale has a significant impact on your tax obligations. Our team offers in-depth advice on the tax implications of each option, helping you understand how your financial standing will be affected. Our goal is to optimize your tax position while ensuring full legal compliance.
A Collaborative Approach to Legal Services
At Levy Zavet Lawyers, we believe in a collaborative approach when working with our clients. Rather than imposing a one-size-fits-all solution, we work closely with you, your accountants, and other advisors to create a cohesive strategy that benefits everyone involved. This method offers several key advantages:
- Comprehensive Understanding: By engaging all relevant parties, we ensure that every aspect of the transaction is clearly understood and agreed upon.
- Informed Decision-Making: Through collaborative discussions, we enable more informed decisions, considering a wide range of perspectives and expertise.
- Smooth Transaction Process: Our teamwork-oriented approach helps create a seamless transaction process, reducing the potential for misunderstandings and delays. We are committed to providing personalized, attentive services that ensure our clients feel supported and valued throughout the partnership.
Services We Offer for Purchasing and Selling Medical Practices
Our services are designed to address all legal aspects of buying or selling a medical practice. Here’s what we provide:
- Pre-transaction Planning and Consultation: We begin with an initial consultation to understand your goals, assess the practice, and develop a strategy for the transaction.
- Due Diligence: Our thorough due diligence process ensures that legal, compliance, and business considerations are understood and addressed.
Disclaimer: The information provided on this page is for general informational purposes only and does not constitute legal advice. For legal advice tailored to your specific circumstances, please contact the lawyers at our firm, and for additional information feel free to visit our licensor, Complete Medical Centres
