Sample Letter To Patients Following The Sale Of A Dental Practice
Practice goodwill is the most important asset of any dental office. Although goodwill is an intangible asset, it carries the most weight when buying a practice. So, when planning a transition, the most important element is the manner in which the patients (or the referral sources) will be transitioned over to the new owner. As a result, the importance of an effective notification letter cannot be overstated. The following is a sample notification letter. Please keep in mind this should be customized (and printed on the seller’s letterhead).
Dear Valued Friends,
I have come to a very difficult decision to step away from my dental practice and my beloved Cavity County. I have lived in Cavity County for 55 years, and I set up my dental office here in 1975. I have enjoyed treating each and every one of you, and I have treated three generations of some families. Many of my high school friends seek treatment with us. It is very hard to say goodbye. I have to think of what is best for my family, as I have many things I want to do and see. I have opportunities and education to pursue in Western Alaska that I cannot pass up.
To maintain the continuing care of my friends and family, I met with 10 candidates until I found Dr. Sally Buyer. She is a caring, calm, and meticulous dentist. Dr. Buyer extracted a fractured tooth on me recently and handled the procedure in a way that confirmed my confidence in her abilities. She is thorough, practical, and empathetic. Her goal is to continue the quality of care for which you have shown me your loyalty over these many years.
Her education is impressive. Like me, Dr. Buyer is a graduate of University of Pennsylvania Dental School. After dental school, she chose to further her education by taking part in a residency. She completed a General Practice Residency (GPR) at the University of Maryland Dental School. The following year, she was chief resident at the North Dakota General Hospital where she completed a second GPR and was a Fellow of Oral Implantology.
Although a native New Yorker, Dr. Buyer and her husband have chosen to leave New York for the scenic life of Pennsylvania. They have lived here for four years and have a son, three daughters, two cats and one dog. I am so appreciative of your trust and support, and eternally grateful for the many relationships I formed through the years with my wonderful patients.
To ensure a smooth transition I plan to maintain a presence at the office and helping in any way I can. I am confident you will be cared for and pleased with Dr. Buyer.
Dr. Leon L. Seller
For more information, contact Phil Bogart at firstname.lastname@example.org or 410.347.8710. Phil represents dentists and other medical professionals in business transactions and situations encountered during the life of their practices. Services include structuring/documenting employee arrangements, partnerships, acquisitions and other exit strategies. Please note, the above should not be considered legal advice and does not create a client-lawyer relationship.