Merging two dental practices can be a strategic way to expand your services, pool resources, and increase profitability. However, any merger involves complex legal requirements—especially in the regulated field of dentistry. Consulting an attorney well-versed in both business law and Florida’s dental regulations is crucial to safeguarding your investment and maintaining compliance throughout the process.
The first step is conducting thorough due diligence. You’ll need to review the other practice’s financial records, licenses, employee agreements, and patient data management systems. This ensures that there are no hidden liabilities or compliance issues that could jeopardize your newly formed practice. An attorney can guide you in reviewing these documents, helping you identify potential red flags and structure the deal to protect your interests.
Next, establish a clear merger agreement outlining roles, responsibilities, and ownership stakes. This agreement should address how you’ll combine patient records, allocate decision-making authority, and manage day-to-day operations. Be sure to include provisions related to any non-compete agreements, as Florida laws on restrictive covenants can be strict. A skilled attorney can ensure the merger agreement is both legally sound and customized to your unique practice needs.
Finally, complete any state-specific paperwork and licensing updates. In Florida, you may need to modify your practice’s name, renew or transfer permits, and notify the Florida Board of Dentistry of any changes in ownership. Failing to comply with these requirements can result in penalties or even a delay in operating your merged practice. Working closely with an attorney ensures you meet all legal obligations, allowing you to focus on combining resources, serving patients, and growing your new, unified dental practice.