Off-Market 10-Location Orthopedic Practice - $4.3M EBITDA

This is a confidential, off-market opportunity. The practice is not publicly listed and is being shared directly with qualified buyers prior to any formal process. Business Overview: This is a 10-location orthopedic and injury-focused medical practice operating across Central, West, and North Florida. The practice specializes in accident and injury-related care, with strong referral relationships across personal injury attorneys, chiropractors, and physical therapists. It was built through targeted expansion into markets with demonstrated referral demand and operates with an exceptionally lean cost structure. Investment Snapshot: • Revenue: ~$5.2M–$5.3M (stable across 2023–2025) • EBITDA: ~$4.3M (management-reported) • Overhead ratio: ~20% — highly efficient operating model • Patient sourcing: ~80% from professional referrals (attorneys, chiropractors, PTs) • Surgical conversion rate: ~10% of visits • Footprint: 10 active sites across Florida • Several newer locations still in ramp phase — near-term same-asset upside not yet reflected in financials Why This Is Interesting: The margin profile is exceptional for a physician practice platform — $4.3M EBITDA on $5.3M revenue reflects a near-zero customer acquisition cost model driven entirely by durable professional referral relationships. The practice is not dependent on paid consumer marketing. Several newer locations are still ramping, providing an incoming acquirer with visible organic upside without additional capital deployment. Ideal Buyer: Orthopedic and MSK platforms, MSOs, physician practice groups, urgent care operators, or healthcare-focused private equity seeking immediate Florida-based scale. Next Steps: Qualified buyers should reach out directly to redacted for NDA-gated access to financial details and management discussions.