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The Medical Practice Purchase Agreement is essential for transactions involving the sale and purchase of medical practices in Australia. This document is used when a medical practitioner, group of practitioners, or healthcare corporation wishes to acquire an existing medical practice, ensuring compliance with Australian healthcare regulations and professional standards. The agreement covers crucial aspects such as the transfer of physical assets, patient records, staff arrangements, Medicare provider numbers, and practice goodwill. It addresses specific requirements under various Australian healthcare laws, including the Health Practitioner Regulation National Law, Privacy Act 1988, and state-specific medical practice regulations. The document is structured to protect both parties' interests while ensuring continuous patient care and compliance with healthcare service standards during ownership transition.

1. Parties: Identification of the seller(s) and purchaser(s), including their legal capacity and registration details

2. Background: Context of the sale, brief description of the medical practice, and purpose of the agreement

3. Definitions and Interpretation: Definitions of key terms and interpretation rules for the agreement

4. Sale and Purchase: Core transaction terms including purchase price, payment terms, and what is included in the sale

5. Due Diligence: Buyer's investigation rights and seller's disclosure obligations regarding practice operations and compliance

6. Conditions Precedent: Prerequisites for completion including regulatory approvals, licensing requirements, and Medicare arrangements

7. Completion: Process and requirements for closing the transaction, including timing and delivery requirements

8. Assets Transfer: Detailed provisions for transferring physical assets, equipment, and medical supplies

9. Patient Records and Confidentiality: Terms for transferring and maintaining patient records in compliance with privacy laws

10. Employee Matters: Arrangements for existing staff, including transfer of employment terms and entitlements

11. Seller's Warranties: Warranties regarding practice operations, compliance, financial statements, and disclosed information

12. Purchaser's Warranties: Warranties regarding capacity to purchase and operate the practice

13. Restraint of Trade: Non-compete and non-solicitation provisions for the seller

14. Transitional Arrangements: Handover process, including introduction to patients and operational transition

15. Default and Termination: Consequences of breach and termination rights

16. Notices and General Provisions: Standard boilerplate provisions including notices, governing law, and dispute resolution