Sale Of Medical Practice Agreement Template for Indonesia

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Key Requirements PROMPT example:

Sale Of Medical Practice Agreement

"I need a Sale of Medical Practice Agreement for my small dental practice in Jakarta, Indonesia, which includes the transfer of equipment and patient records, with a planned completion date of March 1, 2025, and a 3-month transition period where I'll stay on as a consultant."

Document background
The Sale Of Medical Practice Agreement is essential for medical practitioners in Indonesia who are looking to transfer ownership of their practice to another qualified healthcare provider. This document is typically used when a medical practitioner is retiring, relocating, or otherwise transitioning their practice to new ownership. It must comply with Indonesian regulations, particularly Law No. 36 of 2009 on Health and Law No. 29 of 2004 on Medical Practice. The agreement covers all aspects of the practice transfer, including physical assets, patient records, staff employment, medical equipment, licenses, and permits. It also addresses regulatory compliance requirements, confidentiality obligations, and transition arrangements. The document is structured to protect both parties' interests while ensuring uninterrupted patient care and compliance with Indonesian healthcare regulations.
Suggested Sections

1. Parties: Identification of the seller (current practice owner) and buyer, including their registration and license details

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

3. Definitions: Definitions of key terms used throughout the agreement

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

5. Conditions Precedent: Required regulatory approvals, licenses, and other conditions that must be met before completion

6. Completion: Details of the completion process, timing, and requirements

7. Assets Transfer: Specifications for the transfer of medical equipment, supplies, and other physical assets

8. Patient Records: Terms for the transfer and handling of patient records, ensuring compliance with privacy laws

9. Staff and Employment: Arrangements for existing staff, including transfer of employment contracts

10. Representations and Warranties: Seller's and buyer's warranties regarding the practice, licenses, and compliance

11. Seller's Covenants: Seller's obligations pre and post-completion, including non-compete provisions

12. Liabilities and Indemnities: Allocation of liabilities and indemnification provisions

13. Confidentiality: Confidentiality obligations regarding practice information and patient data

14. Dispute Resolution: Procedures for resolving disputes under Indonesian law

15. General Provisions: Standard boilerplate clauses including notices, amendments, and governing law

Optional Sections

1. Real Estate Transfer: Required if the practice premises are included in the sale

2. Post-Sale Consultation: Terms for the seller's continued involvement as a consultant if agreed

3. Insurance Assignment: Provisions for transferring or maintaining specific insurance policies

4. Intellectual Property: Required if the practice has specific IP assets like tradenames or specialized procedures

5. Third-Party Consents: Required if specific third-party approvals are needed for contract assignments

6. Transition Services: Details of any transitional support provided by the seller

7. Equipment Leases: Required if medical equipment leases are being transferred

8. Hospital Privileges: Required if hospital affiliations or privileges are part of the transaction

Suggested Schedules

1. Schedule 1 - Asset Inventory: Detailed list of all medical equipment, furniture, and other physical assets

2. Schedule 2 - Contracts and Agreements: List of all contracts being transferred, including service agreements and leases

3. Schedule 3 - Employee Information: Details of all employees, their roles, and employment terms

4. Schedule 4 - Licenses and Permits: List of all medical practice licenses and permits

5. Schedule 5 - Financial Statements: Recent financial statements and records of the practice

6. Schedule 6 - Patient Records Inventory: Inventory of patient records being transferred (without personal details)

7. Schedule 7 - Insurance Policies: List of insurance policies and their status

8. Schedule 8 - Property Details: Details of premises if included in the sale

9. Appendix A - Form of Patient Notice: Template for notifying patients of the practice transfer

10. Appendix B - Regulatory Compliance Checklist: Checklist of required regulatory approvals and notifications

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions
Clauses
Relevant Industries

Healthcare

Medical Services

Professional Services

Business Services

Healthcare Real Estate

Medical Equipment

Healthcare Technology

Regulatory Compliance

Relevant Teams

Legal

Compliance

Healthcare Operations

Finance

Risk Management

Business Development

Real Estate

Medical Administration

Regulatory Affairs

Due Diligence

Relevant Roles

Medical Director

Practice Owner

Healthcare Facility Manager

Legal Counsel

Compliance Officer

Medical Administrator

Healthcare Operations Manager

Business Development Manager

Finance Director

Risk Manager

Healthcare Consultant

Practice Acquisition Specialist

Medical Practice Broker

Healthcare Real Estate Manager

Industries
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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