When buying or selling a dental practice, there are several key legal aspects to consider in order to protect your interests and ensure a smooth transition. Here are some of the most important legal considerations in dental acquisitions:

Letter of Intent (LOI)

Acquiring a dental practice typically begins with the issuance of a LOI. This document, which can be either legally binding or non-binding, outlines the key terms of the proposed deal and serves as a framework for negotiations. The LOI clarifies the intentions of both parties and sets the stage for drafting a formal purchase agreement.

Purchase Agreement 

The core of any dental practice acquisition is the Purchase Agreement. This legal document outlines the terms of the transaction, including the purchase price, the assets being transferred, as well as the representations, warranties, and conditions for closing.

Due Diligence

Due diligence is the phase in which the buyer verifies the seller's representations about the practice. This includes reviewing financial records, patient files, leases, employee agreements, and ensuring regulatory compliance.

Assets Transfer

In a dental practice acquisition, asset transfer involves the sale or transfer of specific assets from the seller to the buyer. These assets typically include tangible items like office equipment, furniture, and dental tools, as well as intangible assets such as patient records, goodwill, and intellectual property. The asset transfer process must be carefully structured to ensure proper legal documentation, including the transfer of ownership for equipment, inventory, and any leased properties, as well as compliance with regulatory requirements.

Real Estate

While Prestige Law Office does not handle real estate law, the firm can connect you with a trusted and experienced real estate attorney in your area to assist with the property-related aspects of the transaction, especially when the dental practice's real estate is involved.

Licenses and Permits

Acquiring a dental practice requires the transfer of various licenses and permits to ensure the practice remains compliant with state and federal regulations.

Practice Valuation

An essential part of the acquisition process is valuing the dental practice. The dental transitions attorney at Prestige Law Office works closely with dental-specific CPAs and valuation experts to provide a comprehensive analysis of the practice's worth. This valuation considers financials, market conditions, and qualitative factors such as goodwill and brand recognition, ensuring that you make informed and sound investment decisions.

Closing

The closing process is where all aspects of the acquisition come together. The dental transitions attorney at Prestige Law Office will review all purchase contracts, employment agreements, and related documents to ensure every detail is in order and your interests are fully protected.

Post-Acquisition Legal Counsel

Even after the acquisition is complete, the dental transitions attorney at Prestige Law Office can provide ongoing legal counsel to address any post-acquisition issues, such as drafting buy-sell agreements, reviewing changes to ownership structure, and ensuring continued legal compliance.

Prestige Law Office provides the following dental law services:

• Dental Practice Transitions
• Purchase Agreements
• Partnership, Operating, and Shareholder Agreements
• Associate Buy-Ins
• Business Formations
• Partnership Disputes
• Confidentiality Agreements and NDAs
• Estate Planning and Asset Protection

The firm handles dental business transactions and transitions across the state of Wisconsin. Let the firm help you navigate your business needs. Schedule a consultation today and take the first step toward securing your future.