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Sale Of Medical Practice Agreement
"I need a Sale Of Medical Practice Agreement for the sale of my small family medical practice in Singapore to a large healthcare group, with special attention to patient data protection and a 6-month transition period starting March 2025."
1. Parties: Identification of seller and purchaser of the medical practice
2. Background: Context of the sale and brief description of the medical practice
3. Definitions: Key terms used throughout the agreement
4. Sale and Purchase: Core terms of the transaction including assets being transferred
5. Purchase Price and Payment: Consideration and payment terms
6. Completion: Timing and mechanics of closing the transaction
7. Seller's Warranties: Representations about the practice, licenses, and compliance
8. Patient Records Transfer: Terms for transferring and maintaining patient confidentiality
9. Regulatory Compliance: Compliance with healthcare regulations and licensing requirements
1. Non-Compete Provisions: Restrictions on seller's future practice when protecting the practice's goodwill is crucial
2. Transition Services: Terms for seller's assistance during handover when extended transition period is needed
3. Employee Transfer: Terms for transferring staff employment when employees are being transferred
4. Property Lease Assignment: Terms for transferring lease rights when premises are leased
1. Asset Schedule: Detailed list of physical assets being transferred
2. Equipment Schedule: List of medical equipment included in sale
3. Employee Schedule: List of transferring employees and their terms
4. Contracts Schedule: List of contracts being assigned
5. Regulatory Licenses: Copies of current licenses and permits
6. Patient Notice Template: Template for notifying patients of practice transfer
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