Buying a general practice
Owners who are open to selling have often not appointed anyone and will not advertise the practice, so a buyer who waits for listings sees only part of what is available. Proxeno holds a dataset of who owns Australian general practice and matches buyers to practices in three ways: a free register, a buy agreement that shows you every registering seller who fits your criteria, and Origination, where Proxeno finds and approaches the owners of practices that fit your brief. Proxeno agrees engagement fees before work starts, and no fee is a percentage of the price.
The dataset behind the match
Proxeno matches buyers against the GP Zoo dataset, which Medius Global compiles from operator websites, booking platforms and direct verification. It maps 340 group operators and 4,356 independent practices, with each practice's size, ownership structure, billing policy and nursing support.
The three options
Register: free
You record your acquisition criteria: the regions or postcodes you buy in, the practice size you want, your timing and how you operate. Proxeno holds you on its buyer register. At this level Proxeno acts for sellers: when a seller registers, Proxeno shows them the buyers their practice suits best, with the reasoning behind each match, and you hear from Proxeno when a seller selects you. Registering costs you nothing and commits you to nothing. The seller pays Proxeno.
Match: buy agreement, fee on completion
You sign a buy agreement, and Proxeno presents to you every seller who registers on the platform and fits your criteria, as they register. You also see the practices Proxeno's Origination work turns up: owners open to selling who have not registered on the platform, offered to you once the Origination client who commissioned the search has declined them. Under a buy agreement Proxeno does not search for practices or approach owners for you. There is no subscription fee. When a purchase completes with a seller who has no sell agreement with Proxeno, you pay a business development fee of $7,500.
Origination: monthly subscription, fee on completion
You engage Proxeno to work your brief. Proxeno finds the practices that fit it and approaches their owners before those practices reach any other buyer. You hold first right of refusal on every practice the work turns up, and Proxeno offers other buyers only what you decline. Proxeno advertises nothing. In these approaches Proxeno acts for you and tells each owner so.
What an Origination engagement delivers
- A ranked shortlist of the practices that match your criteria, each named, with its suburb, size, billing policy and score against your criteria. Proxeno works from this shortlist for the length of the engagement.
- The owning entity for each practice. Before any approach, Proxeno works to confirm the legal entity that owns the practice from the dataset and public sources.
- An outreach plan that Proxeno sets with you, pacing the approaches over the engagement, because a long shortlist takes more than a month to work through.
- Discreet approaches to owners, and a report of which owners are open to a discussion.
- A preliminary workup of any practice whose owner is ready to sell, prepared from Proxeno's seller operational overview.
- A monthly report of progress against the outreach plan.
How Proxeno approaches owners
Proxeno ranks the target practices, confirms who owns each one and agrees the outreach plan with you. It then contacts each owner in this order: a discreet email, an introduction through personal networks where one exists, a message on LinkedIn where the owner uses it, then by post, and by phone. Proxeno phones last because a practice's reception can hold a call for twenty minutes before it reaches the owner.
The Origination engagement
Proxeno sets a monthly subscription by the number of practices on your target list. A national brief means more practices to map, more owners to identify and more approaches to make than a single-region brief.
The first term is three months. In that term Proxeno maps and ranks the target set, confirms the owning entities and makes the first round of approaches. Owners then take time to respond, and each purchase proceeds at the pace its seller sets. At three months you and Proxeno review the work against the outreach plan, and the subscription steps down to a maintenance rate agreed at that review.
| Practices on the target list | Monthly subscription, first three months | Typical brief |
|---|---|---|
| Up to 30 | $750 | One region, narrow criteria |
| 31 to 100 | $1,500 | One region, broader criteria |
| 101 to 250 | $2,750 | Several regions |
| 251 to 500 | $4,500 | National, or a group roll-up |
The buy fee
When a purchase completes under an Origination engagement, you pay a fixed fee of $2,500 per GP, with a minimum of $12,000 and a maximum of $45,000 for any practice. Proxeno counts the GPs at the practice on the day discussions with the seller begin, as a headcount, not full-time equivalents.
| GPs at the practice | Buy fee |
|---|---|
| 4 or fewer | $12,000 |
| 5 | $12,500 |
| 7 | $17,500 |
| 10 | $25,000 |
| 14 | $35,000 |
| 18 or more | $45,000 |
Who owns the premises
The dataset does not record who owns the building a practice operates from. Where you want that confirmed for a practice, Proxeno orders a title search at your cost, quoted separately and ordered only on your instruction.
Valuation
Proxeno does not value practices or give valuation advice. What practices sell for, and what sets the price, is on the practice value page. The seller engages an independent valuer, and Proxeno takes no fee from the valuer.
Which side Proxeno acts for
Proxeno acts for one side in each transaction and names that side in the engagement terms. Under an Origination engagement Proxeno acts for you, the buyer. Proxeno agrees fees before work starts and reviews the Origination subscription with you at three months, then quarterly.