Successful Medical Device MFG. Business for Sale

Mineola, NY (Nassau County)

Seller Financing Available
Our Splinter Out Product
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Asking Price: $1,500,000

Cash Flow: $495,000

Gross Revenue: $900,000

EBITDA: $425,000

FF&E: N/A

Inventory: $50,000*

Real Estate: $900,000*

Established: 1956

*not included in asking price.

Successful Medical Device MFG. Business for Sale

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Business Description

Successful HIgh-Profit Established Medical Product Manufacturer

Great established business with unlimited potential.

We manufacture in the USA the popular Splinter Out product, the Goldenrod Animal Lancet and the Medipoint Blood lancet. See www.medipoint.com.

Currently manufacturing and selling 3/4 of a million Splinter Removers/month to only First Aid Kit companies. There is no competition in this product. We've never tried marketing to companies like Home Depot, CVS, Target, etc. Everybody gets splinters but we have only marketed to First Aid Kit companies.

We also manufacture the Goldenrod Animal Lancet, the current worldwide method and device for drawing blood from Research mice, sold worldwide. There is no competition in this product either.

Company's been in business since 1956 with current owner for 46 years who wants to retire. NOT a distressed sale, company enjoys an enormous profit margin. Highly automated, manufacturing all aspects of the product, we only have 3 employees including office & sales. FDA registered and ISO 13485:2016 MEDSAP Certified.

Because we manufacture all parts of the product and sterilize in house, we have an enormous markup. Our most popular product Splinter Out has the highest markup.

Seller will stay on to train new staff. Seller owns the building and is willing to hold a note on the building. Buyer must have funds to make the purchase, bank loans are not favored.

Fabulous opportunity for either a related medical products business or business person.

Detailed Information

Location:
Mineola, NY
Inventory:
Not included in asking price
Real Estate:
Owned
Not included in asking price
Building SF:
5,500
Employees:
3
Facilities:
All Manufacturing Machinery including Injection Molding Machine & Steam Sterilizer, fully equipped Machine shop, all office equipment including computers, copying machine & scanner. 5,500 sq ft building on 7,000 sq ft lot with 2 parking spaces. Building is separate from sale of business and seller is willing to hold note on the building.
Competition:
We manufacture 3 products. The biggest company sales & highest markup product is Splinter Out, which has no competition. Goldenrod Animal Lancets are the current worldwide device for drawing blood from research animals and has no competition. The Medipoint Disposable Blood Lancet we've made since 1956 has competition.
Growth & Expansion:
There is incredible expansion opportunity for our Splinter Out product. Everyone gets splinters but we only sell to First Aid Kit manufacturers. Sales can easily be expanded to retailers like Home Depot, Lowes, Ace Hardware, CVS, Walgreens, or Duane Reade type Drug Stores and box stores like Target, Walmart, etc. You don't go to Home Depot for an Aspirin and don't go to CVS for a 2x4. but can sell Splinter Out in both. Everyone gets splinters...
Financing:
Prefer buyer is NOT bank financed. Seller will hold building note only
Support & Training:
Seller will stay on for 3 months to train and will be available off-site for 6 months for consultation.
Reason for Selling:
Owner is 73, has run the company for 46 years and wants to retire.
Business Website:
http://www.medipoint.com
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Business Listed By:
Peter Gollobin

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