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Sale Of Medical Practice Agreement for Indonesia

Sale Of Medical Practice Agreement Template for Indonesia

A comprehensive legal agreement governed by Indonesian law that facilitates the transfer of ownership of a medical practice from one practitioner or entity to another. The document addresses crucial aspects including the transfer of assets, patient records, staff contracts, and medical licenses while ensuring compliance with Indonesian healthcare regulations, particularly Law No. 29 of 2004 on Medical Practice and related healthcare legislation. It includes provisions for regulatory approvals, patient confidentiality, staff transition, and post-sale obligations, specifically tailored to meet Indonesian medical practice transfer requirements.

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What is a Sale Of Medical Practice Agreement?

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.

What sections should be included in a Sale Of Medical Practice Agreement?

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

What sections are optional to include in a Sale Of Medical Practice Agreement?

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

What schedules should be included in a Sale Of Medical Practice Agreement?

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) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents

Jurisdiction

Indonesia

Publisher

Ƶ

Document Type

Sales Agreement

Sector

Sales

Cost

Free to use

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