Selling your Oklahoma City plastic surgery practice is a major decision. The current market presents a significant opportunity, but unlocking the full value of the business you built requires careful planning and a clear strategy. This guide provides insights into the OKC market, the sale process, and how to position your practice for a successful transition. Understanding your practice’s true market position is the first step toward a successful sale.
Market Overview
The demand for cosmetic procedures is strong. The global market is projected to grow steadily over the next decade, creating a favorable environment for practice owners considering a sale. High profit margins, often between 15-20% for well-run centers, are attracting a new wave of sophisticated buyers, from private equity groups to expanding regional health systems. They see the value in established, reputable practices.
Here in Oklahoma City, this trend holds true. The market is active and established, with an average plastic surgeon salary around $331,000, indicating a healthy local demand for services. However, it is also a competitive landscape. For a seller, this means your practice’s story, operational efficiency, and financial health must be presented professionally to stand out and attract the premium valuation you deserve.
Key Considerations for OKC Sellers
Beyond the numbers, a successful sale in Oklahoma involves navigating specific state-level rules. Getting these details right from the beginning protects you and the buyer, ensuring a smooth transaction. Here are a few critical areas we help owners prepare for.
Practice Ownership Structure
Oklahoma law allows non-physicians to own medical practices, which widens your pool of potential buyers beyond other surgeons. This can include private equity investors or hospital systems. However, the structure of such an entity must comply with Medical Board regulations. Understanding these nuances is key to marketing your practice to the broadest and best-qualified audience.
Non-Compete Agreements
While Oklahoma generally restricts non-compete clauses in employment contracts, the rules are different when it comes to the sale of a business. A non-compete agreement is enforceable in the ownership context. Negotiating the scope, duration, and geographic limits of this agreement is a critical part of the deal structure that directly impacts your future.
Patient and Staff Transition
A smooth handover is not just good practice. It’s a core component of your practice’s value. This involves a clear plan for managing patient records, communicating the transition, and ensuring continuity of care. It also means addressing the future of your valued staff, as a stable team is a major asset for any buyer.
Market Activity
We are seeing significant interest in well-established plastic surgery practices. Buyers today are more sophisticated. They are not just acquiring assets; they are investing in platforms for growth. This means they look beyond your revenue and patient numbers. They want to see a practice with a strong reputation, efficient operations, and a clear path for future growth.
Buyer motivations vary. A private equity group may see your practice as a cornerstone for a larger regional platform, valuing your brand and leadership. A local hospital might be looking to expand its cosmetic service line. Another surgeon might see an opportunity to merge practices and create new efficiencies. Because specialist practices like yours often command higher valuation multiples, running a confidential, competitive process is the only way to discover your practice9s true market value and find the partner whose goals align with yours.
The Sale Process
Selling your practice follows a structured path. While every sale is unique, the journey typically involves these key stages. We manage this entire process so you can remain focused on patient care.
- Preparation and Positioning. This is where we work with you to gather financial documents, identify operational strengths, and frame the unique story of your practice to attract the right buyers.
- Confidential Marketing. We identify and discreetly approach a curated list of qualified buyers from our proprietary database, creating competitive tension without disrupting your practice.
- Negotiating Offers. We solicit and analyze offers, advising you on not just the price, but also the terms, structure, and strategic fit of each potential partner.
- Due Diligence. The buyer will conduct a deep dive into your financials, operations, and legal standing. We help you prepare for this intense scrutiny to prevent surprises and keep the deal on track.
- Closing and Transition. We coordinate with legal teams to finalize contracts and help you plan for a smooth and successful handover to the new owners, protecting your staff and legacy.
The due diligence process is where many practice sales encounter unexpected challenges.
How Your Practice is Valued
One of the first questions owners ask is, “What is my practice worth?” The answer is more complex than a simple rule of thumb. Sophisticated buyers value your practice based on its Adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization). This figure represents your practice’s true cash flow, normalizing for owner-specific expenses and one-time costs.
That Adjusted EBITDA is then multiplied by a number (a multiple) to determine the Enterprise Value. For a plastic surgery practice, this multiple is influenced by many factors beyond just revenue. We help you identify and highlight the strengths that sophisticated buyers pay a premium for.
| Factor | Impact on Valuation |
|---|---|
| Provider Reliance | Higher value for practices not solely dependent on the owner. |
| Revenue Mix | Strong cash-pay cosmetic services can increase margins. |
| Reputation & Brand | A leading name in the OKC market commands a premium. |
| Operational Systems | Efficient scheduling and billing systems demonstrate a well-run business. |
| Growth Potential | Clear opportunities to add services or providers increase the multiple. |
A comprehensive valuation is the foundation of a successful practice transition strategy.
Life After the Sale
A successful sale isn’t just about the final price. It’s about designing a transition that aligns with your personal and professional goals. The best deals are structured with a clear vision for what comes next, for you, your staff, and your patients. We help you think through these critical components during the negotiation process.
Your Continuing Role
Do you want to continue practicing for a few years, or are you ready to retire immediately? Your post-sale role is a key negotiating point. It can range from a full-time clinical position to a short-term consulting agreement to ensure a smooth handover. Defining this early is critical for your own satisfaction and for the buyer9s confidence.
Securing Your Team’s Future
Your loyal staff are a huge part of your practice’s value. A key part of the negotiation is ensuring their future is secure, with clear roles and opportunities under new ownership. Protecting your team is often a top priority for sellers, and it9s something buyers who value culture will respect.
Protecting Your Legacy
You’ve spent a lifetime building your reputation and a high standard of care. The right partner will be one who respects that legacy and is committed to maintaining it. Structuring the partnership to ensure quality and patient focus continues is a vital part of the deal that protects the name you’ve built in the Oklahoma City community.
Your legacy and staff deserve protection during the transition to new ownership.
Frequently Asked Questions
What is the current market outlook for selling a plastic surgery practice in Oklahoma City?
The demand for cosmetic procedures in Oklahoma City is strong, with a healthy local market and an average plastic surgeon salary around $331,000. The market is active and competitive, attracting buyers like private equity groups and regional health systems. Sellers need to present their practice’s story, efficiency, and financial health professionally to attract a premium valuation.
Are non-physicians allowed to buy plastic surgery practices in Oklahoma City?
Yes, Oklahoma law allows non-physicians to own medical practices. This expands the potential buyer pool to include private equity investors and hospital systems. However, the practice ownership structure must comply with Medical Board regulations, which is important to understand when marketing your practice.
What role do non-compete agreements play in the sale of a plastic surgery practice in Oklahoma?
While non-compete clauses are generally restricted in employment contracts in Oklahoma, they are enforceable in the context of a business sale. Negotiating the scope, duration, and geographic limits of a non-compete agreement is a critical part of the sale deal structure and can impact the seller’s future plans.
How is the value of a plastic surgery practice determined in Oklahoma City?
Practice valuation is based on Adjusted EBITDA, which reflects the true cash flow of the practice adjusted for owner-specific expenses and one-time costs. This figure is multiplied by a factor influenced by provider reliance, revenue mix, reputation, operational systems, and growth potential to determine the enterprise value.
What should a seller consider regarding staff and legacy when selling their plastic surgery practice?
Protecting the future of your staff and your practice’s legacy is crucial. Ensuring your team has secure roles under new ownership and maintaining the quality and reputation you’ve built are key negotiation points. The right buyer will respect your legacy and commit to continuing high standards of care in the community.
