Mergers may also be an opportunity to gain a strong position in a changing marketplace where new private entrants are acquiring GP practices through contracts from CCGs.
Merging contracts, or dissolving existing ones, can be tricky. You must continue to comply with cumbersome regulatory requirements. There may also be break clauses to negotiate for premises and stamp duty or capital gains tax to consider.
A number of legally-binding agreements need to be negotiated before a merger can proceed. Legal advice ensures that your interests are protected, particularly when you are making financial contributions or bringing assets to the arrangement. Poorly-planned mergers can result in disputes, which may require mediation or even resolution in court.
Whatever the size of practice, succession planning is vital — and the earlier the better. The shortage of GPs is exacerbated by the declining number of GPs wanting to become partners, with the monetary rewards being seen as too low for the responsibilities. This leaves owners of GP surgeries with financial issues and worries for their retirement.
In all these situations and more, we have the in-depth knowledge to help you.