Asset Purchase Agreement For Medical Practice

Several trade-offs are possible in this regard, from limiting the total amount of the compensation obligation to developing “baskets” of different potential liabilities, so that an undrafted tax pledge right, for example, does not require repayment in excess of the value of the underlying fixed assets. In addition, due to the nature of many small practices, it is not uncommon for personal ownership to belong to the doctor in practice. In many cases, even if the practice owns ownership of the asset, the physician still considers it to be or their own. For example, laptops and artwork are often “not for sale,” even if practice has paid for it. Developing a list of what is being sold can be a challenge. It is often a space for space inventory. One of the first things you need to do is to ensure that everything that has been agreed in the memorandum of understanding is in the final agreement. Negotiating awarded contracts can become a major problem. Unfortunately, some doctors sign the document presented to them by the seller as a “standard contract”. As a result, practices often are signatories to long-term commitments without notice. While this is not something most doctors want to spend their time on, doctors should read and consider the representations and guarantees in the agreement.

Even though you may consider these provisions as ill-considered legal provisions, these provisions can result in significant debts in the agreement if they are not correct. In particular, doctors may not have pledges on their assets, including pledge rights on hard assets contained in bank documents relating to credit lines or other credits. If you ensure that there are no lockers, the hospital can claim compensation when the lockers are discovered (see below). Agreements on electronic medical records are a common problem. If the health system implements an electronic registration system, it is very unlikely that it will want to accept the assignment of a long-term obligation for another electronic registration system. At the same time, after the sale of the practice, doctors certainly do not want to continue paying out of pocket for an EMR system. I managed to convince the EMR companies to terminate the agreement at some point in the future (after the information was transferred to the hospital`s EMR) and convince the hospital to pay the EMR during that period. . .