Here’s a rare opportunity to acquire a well-established ophthalmology and optometry practice in the thriving Texas Panhandle region. With a gross annual revenue of $1,099,000, this turnkey medical practice offers immediate profitability and tremendous growth potential in a rapidly growing area. The practice, originally founded in 1986, has served its community for nearly four decades, building a loyal patient base and a solid reputation for delivering high-quality eye care.
The practice operates out of an impressive 8,000 sq ft free-standing building. This expansive space includes seven fully-equipped exam lanes, retail optical, an optical finishing lab, a minor operating room, a darkroom, multiple testing rooms, a comfortable employee lounge, and four restrooms. Additionally, a spacious waiting room provides a welcoming atmosphere for patients. The doctor owns the building, meaning there is no lease commitment, giving potential buyers greater flexibility and long-term stability.
The dedicated staff, consisting of four opticians, two full time techs, two part time techs, three front office workers, and a housekeeper, are willing to remain for a turn-key, smooth transition.
This facility is fully outfitted with a range of modern ophthalmic equipment, ensuring a smooth transition for the new owner. Equipment includes Optomap and DRS cameras for advanced retinal imaging, ultrasound equipment, Humphrey and Goldmann bowl perimeters for visual field testing, and two Olleyes units, autorefractor, topographer, Frequency Doubling Technology (FDT), and Ivue OCT.
The practice uses the electronic medical records system Crystal PM, an industry-leading EMR system tailored for optometry and ophthalmology practices. This system streamlines patient management, billing, and medical documentation, optimizing efficiency and patient care. They serve a loyal patient base of an average of 25 patients per day and are known for their medically-oriented approach, offering a wide array of diagnostic and treatment services. Since the passing of the founding ophthalmologist in 2013, the practice has continued to thrive under optometric leadership. It has maintained a strong reputation and is ready for growth under new ownership.
The optometry/ophthalmology center is supported by an online presence through its professional website and a very strong patient referral network, but additional marketing efforts could significantly increase patient volume and revenue. A robust digital marketing strategy, including SEO, social media outreach, and Google advertising, could unlock further growth opportunities. The practice is currently lacking a strong vision therapy practice and/or pediatric ophthalmologist, which are areas of great growth and expansion potential.
With gross annual revenues surpassing $1M, this practice is already highly profitable. However, there is still significant room for growth, including:
• Expanding Clinical Services: Adding more specialized ophthalmologic procedures, offering vision therapy, or expanding surgical options (such as cataract surgeries) would attract a broader range of patients and increase profitability.
• Optical Sales: Currently operating with an in-house optical lab, there is the opportunity to expand retail sales of eyewear and contact lenses, generating additional revenue.
• Increase in Patient Volume: Implementing a more aggressive marketing plan could help drive additional patient traffic, particularly from surrounding counties in the Texas Panhandle, where the demand for quality eye care services continues to rise.
• Telemedicine Services: With telemedicine becoming more prominent, there’s an opportunity to integrate remote consultations, particularly for follow-ups or initial consultations, to increase patient convenience and expand the reach of the practice.
• Leverage Modern Technologies: The state-of-the-art equipment already in place ensures that any new owner can offer cutting-edge treatments, attracting