We help Dentists & DSOs with

BUYING A PRACTICE

Are you looking to purchase a dental practice? Except for buying your home, a dental practice is likely the largest and most complex purchase you will ever make, and we know from experience it requires doing a lot of little things right. You need the right team to help you navigate through the various phases of the transaction and ensure you are successful.

How we help

We know where to look and what is of value to a dentist and dental office when it comes to evaluating the practice’s production, associates, employees, lease terms, transition issues and other key considerations when purchasing.

We are committed to your goals and will negotiate hard to get you the best deal.

Why do I need a lawyer?

Purchasing a dental practice is a complex transaction. You need someone that understands the process, can guide you through it, and will ensure that your rights and interests are protected. It requires doing a lot of detailed things right, such as preparing and finalizing Letters of Intent, negotiating the Agreement of Purchase and Sale, undertaking due diligence, dealing with staff and associates, transferring your lease, incorporating a new DPC and closing the transaction, just to name a few. At DMC, our lawyers have been helping dentists buy and sell practices since 2010. We have seen all types of transaction challenges and successes which allows us to effectively advise you on your options when faced with a tough choice, help you weigh benefits and disadvantages, and show you how to minimize your risk. Further, we negotiate hard to make sure that your rights are protected and your interests are promoted throughout the process.

What is the process to purchase a practice?

The first step is a Letter of Intent, which is generally a non-binding document that outlines some of the main terms for the transaction. Once the Letter of Intent is accepted, the parties have their professional advisors (e.g. DMC as your lawyer) begin diligence on the dental practice while drafting, negotiating and finalizing the formal agreement of purchase and sale plus all the other transactional documents. At the same time, the purchaser may need to secure their loan financing, and the lawyers will be working on an assignment of the premises lease plus setting up or updating your dentistry professional corporation and any holding companies needed.  Lastly, the transaction closes, final documents and funds change hands, and the on-site transition begins.

After the closing, there are typically several on-site steps that need to be taken to help “finalize” and “clean up” the transaction.  These may involve dealing with employees, working with the vendor in a principal-associate capacity, and notifying necessary parties of the transition (e.g. RCDSO, Ministry of Health and Long-Term Care, etc.). 

DMC can manage the entire sale process for you, from choosing the right practice to closing the deal. We know the process and the industry players. We have the background and the tools to help you get the best deal possible. With DMC on your team from the beginning, you are assured of having lawyers who are dental industry insiders committed to your goals and ensuring your rights are protected and interests are promoted at every stage.

Get in touch with us

Give us a call at 416.443.9280
or email us using the form below






    Yes, subscribe me to the DMC LLP newsletter for helpful resources, news, offers, and information on dental law.

    Please enter the captcha*

    captcha


    What do our clients say?

    More About Buying a Dental Practice

    Buying a Practice

    5 Things to Consider When Buying a Practice with Real Estate

    So, you've decided you want to own all aspects of your new dental practice, including the real estate or land housing your office. Whether you…
    Buying a Practice

    Buying a Dental Practice: What to do about the Employees!

    It's amazing. Nobody out there has a clue about what to do about the employees when they are buying a dental practice. There's always liability…
    Buying a Practice

    Opening a New Dental Practice: Don’t Let Your Dream Become a Planning Nightmare

    It’s the dream of many dentists, whether as a new grad or after gaining experience – building and owning your brand-new dental practice. And why…
    Buying a Practice

    Resignations, Releases, and Representations, Oh My! Still Not Enough to Curb Employee Termination Pay

    We wrote recently about the risks of not having clear, unambiguous and specific language in your employment contracts, especially when it comes to termination costs.…

    Subscribe to our newsletter

    Stay up to date with what’s happening in your industry, and the latest news and opportunities here at DMC.




      Yes, subscribe me to the DMC LLP newsletter for helpful resources, news, offers, and information on dental law.