A healthcare business rarely trades at the value of its equipment list. The worth of a medical practice, a dental clinic or a pharmacy sits in its patient flow, payer contracts, licences and reputation — assets that never appear on a balance sheet at their real value. The Kanzas company provides independent healthcare valuation: medical and dental practices, veterinary clinics, pharmacies and pharmacy chains, hospitals and pharmaceutical companies. Our team includes RICS- and TEGoVA (REV)-certified valuers, and our reports follow the International Valuation Standards (IVS).
What drives value in a healthcare business
Recurring revenue and its stability come first: patient retention, referral patterns, payer and insurer contracts. Then the transferability question — how much of the cash flow survives a change of ownership, and how dependent the practice is on individual practitioners. Tangible assets — diagnostic equipment, fit-out, property — are valued on a cost basis and cross-checked against the market. For pharmaceutical companies, registration dossiers, trademarks and distribution networks form a distinct intangible layer.
Medical and dental practice valuation: methods and multiples
Online calculators and rules of thumb — a percentage of annual collections, a revenue multiple — give owners a rough anchor, but no more than that. A defensible medical practice valuation builds the income approach from actual cash flows, tests the sustainability of patient volume, and only then compares the result with market multiples for similar practices. Dental practice valuations follow the same logic, with particular attention to active patient counts, hygiene revenue and equipment condition. We prepare valuations for sale and acquisition, partner buy-ins and buyouts, financing and disputes.
Pharmacy, veterinary and other healthcare valuations
We value pharmacies and pharmacy chains as going concerns — locations, inventory, licences and contractual infrastructure as a single integral asset, or point by point for a partial sale. Veterinary practice valuation mirrors the medical logic: client base, recurring visits, practitioner dependence. The same framework extends to hospitals, care homes and diagnostic centres.
Track record
Our practice includes the valuation of pharmaceutical enterprises and of medical and veterinary centres for lending purposes — giving banks a defensible view of collateral value across production lines, diagnostic equipment, property and intangibles. A separate line of work is the valuation of pharmacy chains for mergers and acquisitions, where value is shaped as much by licences, locations and contractual infrastructure as by inventory. Our team also carried out the pre-sale preparation and due diligence of a medical centre — from an asset inventory to defending the business value before a prospective buyer.
Scope of cross-border engagements
For clients outside Ukraine, we provide business valuation, intangible asset valuation and damages quantification in line with IVS — within the scope our RICS and TEGoVA credentials permit without country-specific licensing. Where a regulated purpose requires a locally licensed appraiser, we scope the engagement accordingly and say so upfront.
Frequently asked questions
How do you value a medical practice? Through the income approach first: cash flows adjusted for the sustainability of patient volume, contracts and licences, cross-checked against market transactions and asset values.
Are revenue multiples or rules of thumb enough for a dental practice? They are a starting point. Two practices with identical revenue can differ in value severalfold depending on patient retention, practitioner dependence and payer mix.
Do you assess quality of care or regulatory compliance? No. We determine value — the monetary equivalent of a business or asset. Clinical quality and licensing compliance are the domain of health regulators and accreditation bodies.
What documents are needed to start? Corporate documents, two to three years of financial statements, an equipment list, licences and key contracts. We confirm the exact list once the purpose of the valuation is agreed.
Healthcare deals run on tight clocks — transactions, financing rounds and disputes all have deadlines, and the valuation report has to hold up to scrutiny from every side of the table. Write to us by email or messenger, describe your task, and we will respond with a clear scope, timeline and fee proposal.
