What every dentist should know about practice purchase.

Anyone considering the purchase of a dental practice should heed the 'caveat emptor' maxim since there is a serious risk of dental practice bankruptcy in the present economic environment. To minimise this risk, the purchaser must be equipped with the necessary knowledge and information to ensure purchase terms are sound. This article aims to give guidance on how to assess value and associated risks in the purchase of goodwill and equipment, and sets out the main points to consider in evaluating a practice account prior to acquisition.