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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
Authors
Assets
Business Day
Completion
Completion Date
Confidential Information
Effective Date
Encumbrance
Equipment
Excluded Assets
Existing Contracts
Goodwill
Healthcare Services Act
Intellectual Property Rights
Inventory
Liabilities
Licenses
Medical Practice
Medical Records
Patient Data
Patients
Permitted Encumbrances
Practice Premises
Purchase Price
Purchaser
Regulatory Authorities
Seller
Singapore Medical Council
Staff
Tangible Assets
Third Party Consents
Transfer Date
Transition Period
Warranties
Working Capital
Purchase Price and Payment
Completion
Conditions Precedent
Due Diligence
Warranties and Representations
Indemnification
Patient Records Transfer
Confidentiality
Data Protection
Regulatory Compliance
License Transfer
Employee Matters
Asset Transfer
Equipment Transfer
Intellectual Property
Non-Competition
Non-Solicitation
Transition Services
Insurance
Professional Liability
Patient Notification
Third Party Consents
Force Majeure
Termination
Dispute Resolution
Governing Law
Assignment
Notices
Entire Agreement
Severability
Amendments
Costs and Expenses
Further Assurance
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