Medical and Healthcare Joint Ventures
San Diego Medical and Healthcare Attorneys
Medical practice and healthcare-related joint ventures can help your practice or entity to expand resources, services and offerings while increasing your credibility.
Competition in the San Diego and Southern California healthcare space continues to intensify while maintaining sustainable margins becomes a greater challenge for most as each quarter passes.
The COVID-19 experience has forced many medical practices and healthcare providers and organizations to adopt new practices and technologies. Perhaps you perceive a new market opportunity but lack the financing, expertise or resources to fully exploit the possibilities.
The Watkins Firm works with our clients to continually sharpen strategic and succession planning. The subject of joint ventures is increasingly of interest to many Southern California medical practices and healthcare entities.
What is a Joint Venture?
From a legal perspective, a joint venture is simply an association between two or more companies, entities or individuals who agree to mutually engage in a specific business initiative for profit or advantage without compromising or merging the integrity of the separate companies, entities or individuals.
Basically, a joint venture is a contractual business arrangement between two or more parties.
While it is often mistaken as a partnership, the joint venture is not usually an encompassing long-term business relationship but a limited association with goal of accomplishing a single task, transaction or goal.
Is a Medical and Healthcare Joint Venture The Right Choice for Your Unique Circumstances?
Considering a joint venture requires careful consideration of specific goals and outcomes and how they can and will be measured. What will each party contribute? How will each party help to reduce or eliminate contingent liability? How will the joint venture enable the parties to refer or leverage resources for mutual advantage?
A joint venture allows you to expand the resources and expertise available to you as you approach the healthcare market. It allows each party to enter related business opportunities which otherwise required to much of a financial or logistical barrier to achieve. Medical and healthcare joint ventures allow the parties to share costs, risks, technologies, skill sets and resources.
Objectives must be clearly defined and aligned to a common goal or objective. The Watkins Firm’s experienced attorneys will help you to navigate differing corporate cultures and management styles to find a balance which will work for the limited project associated with your joint venture. Managing objectives requires consistent, transparent communications, measurements and accountability.
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If you are forming a new medical practice or healthcare entity, ophthalmology group or center, or joint venture the experienced business formation attorneys at the Watkins Firm can help you select the appropriate entity and inform you of the advantages of the California Professional Corporation. If you are already an operational entity you may need to learn about staffing and employer defense, physician and medical professional contracts, governance and regulatory compliance or the development of a compliance plan. Our experienced healthcare law attorneys also resolve healthcare related disputes and lawsuits in a timely and cost effective manner and represent clients in arbitration or mediation.
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Our Experienced Legal Team Helps to Ensure a Successful Medical and Healthcare Joint Venture
A medical and healthcare joint venture allows you to increase opportunities for growth and profit and complete goals or projects you may never have had the resources or staff to complete on your own. The time frame of a joint venture is usually limited which allows you to consistently measure performance and adapt strategies without being tied to a long-term association.
The proven medical and healthcare attorneys at the Watkins Firm have decades of legal experience in medical and healthcare joint ventures practices and businesses. Draw upon our skill, experience and insight as we thoroughly research and analyze the potential joint venture. Our attorneys can carefully craft a strong joint venture agreement or serve in a “review, comment and edit” capacity.
If you would like to know more about or are considering a Medical and healthcare joint venture we invite you to review the strong recommendations of our clients and the legal industry and contact the Watkins Firm or call us today at 858-535-1511 for a complimentary and substantive consultation.
Learn how we can help you to accomplish your goals and objectives while enhancing your ability to compete and thrive in the San Diego and Southern California medical business and healthcare marketplace.