Practice ownership

female doctor

The Scenario

Cassandra currently co-owns her Melbourne practice with her practice partner. They have 10 doctors.

Cassandra is heavily involved in the day-to-day management of the practice on top of her clinic schedule. She can see an opportunity to provide more services in the area and is keen to expand the practice, or potentially open a new practice.

Cassandra’s situation

Cassandra’s practice partner has just told her he plans to sell his share in the practice. Cassandra sees this as a great opportunity to buy him out and grow the practice. She has used lawyers in the past but is looking for someone who understands her business.

How Avant Law can assist

Our experienced lawyers have a deep understanding of the medical profession and experience in navigating all aspects of buying and selling a practice. We can advise on each stage including negotiating leases, transferring ownership, and associated issues such as employment and records management.

Legal support – step by step

Step 1 - Get in touch

Cassandra contacts Avant Law to arrange a phone or video call at a time that suits her timeframe.

Step 2 - Initial discussion

Cassandra decides a video call is best for her. Our lawyers will ask her about her situation and what she and her business partner need from the transaction. We will ask about the current structure of her practice.
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We will promptly provide Cassandra with an estimate of costs and timeline.

Step 3 - Structuring and negotiation

Cassandra decides to proceed. We will advise Cassandra on the best way to acquire her practice partner’s interest. We will also facilitate negotiations between Cassandra and her practice partner.

Step 4 - Signing and closing

We will help Cassandra and her practice partner to come to an agreement for the sale. We can settle the contract and related documents.

We can help you

If you have any questions, or would like more information about how we can assist you or your practice, please call 1800 867 113, or to organise a confidential discussion at a time that suits you, please click here 

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Disclaimers

The information in this article does not constitute legal advice or other professional advice and should not be relied upon as such. It is intended only to provide a summary and general overview on matters of interest and it is not intended to be comprehensive. You should seek legal or other professional advice before acting or relying on any of this content. It should not be used as a substitute for legal advice. The information contained in this case study is fictional and only intended to outline some of the services that Avant Law offers. 

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In the spirit of reconciliation, Avant acknowledges the Traditional Custodians of Country throughout Australia, and their connections to land, sea and community. As a national organisation, we pay our respects to Elders past and present, of the lands on which we gather and work, and extend that respect to all Aboriginal and Torres Strait Islander peoples.

IMPORTANT: Professional indemnity insurance and the Practice Medical Indemnity Policy available from Avant Mutual Group Limited ABN 58 123 154 898 (Avant Mutual) are issued by Avant Insurance Limited, ABN 82 003 707 471, AFSL 238 765 (Avant). Avant Cyber Insurance cover is available to eligible Avant Practice Medical Indemnity Policy holders up to the cessation of their policy and is provided under a Group Policy between Liberty Mutual Insurance Company ABN 61 086 083 605 (Liberty) and Avant. Private health insurance products are issued by The Doctors’ Health Fund Pty Limited, ABN 68 001 417 527, a member of the Avant Mutual Group. Avant arranges Avant Business Insurance as agent of the insurer Allianz Australia Insurance Limited ABN 15 000 122 850, AFSL 234 708 (Allianz) and may receive a commission on each policy arranged. Avant Travel Cover is available under a Group Policy between QBE Insurance (Australia) Limited, ABN 78 003 191 035, AFSL 239 545 (QBE) and Avant Mutual. Avant Travel Cover is underwritten by QBE and Avant may receive a benefit for arranging cover. Avant Finance is a registered business name of Avant Doctors’ Finance Pty Ltd (ACN 637 769 361) and licensed to Avant Doctors’ Finance Brokers Pty Ltd (ABN 75 640 406 784). Avant Doctors’ Finance Brokers Pty Ltd is a wholly owned subsidiary of Avant Doctors’ Finance Pty Ltd. Loan products may be provided by Avant Doctors’ Finance Pty Ltd or arranged by Avant Doctors’ Finance Brokers Pty Ltd. Credit services or assistance to which the National Credit Code applies are provided by Avant Doctors’ Finance Brokers Pty Ltd as authorised Credit Representative (Credit Representative Number 523242) for LMG Broker Services Pty Ltd ACN 632 405 504 Australian Credit Licence 517192. Legal services are provided by Avant Law Pty Ltd ABN 63 136 429 153 (Avant Law). Liability limited by a scheme approved under Professional Standards Legislation. Legal practitioners employed by Avant Law are members of the scheme.


The information provided on this website is general advice only and has been prepared without taking into account your objectives, financial situation and needs. You should consider these, having regard to the appropriateness of the advice before deciding to purchase or continue to hold these products. For full details including the terms, conditions, and exclusions that apply, please read and consider the relevant Product Disclosure Statement or policy wording and Target Market Determination (TMD) which are available on this website or by contacting us on 1800 128 268. Information on this site does not constitute legal or professional advice, and is current as at the date of initial publication.