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Closing a practice, retiring: the steps to follow to resell your medical equipment

Closing a practice, retiring: the steps to follow to resell your medical equipment

Closing a medical practice and retiring are crucial moments in the life of a healthcare professional. In addition to the administrative procedures, the question of managing medical equipment inevitably arises: how to ensure a smooth transition and maximize their value? Follow the guide!

Step 1: Take inventory of your medical devices

List exhaustively Everything that is present in your office is very important: beyond the devices, do not forget the furniture, software and any other related material that could bring value. Think about note the condition of each piece of equipment as well as the any necessary repairs.

Step 2: Assess the value of the equipment

Once the inventory is complete, the next step is to assess the value of each piece of equipment. There are different ways to perform this assessment:

  • in expert consultant of the sector,
  • using online tools specialized,
  • by comparing the market price…

To set a fair price, take into account the year of release, the general condition and the specific features of each equipment.

Step 3: Find potential buyers

To make sure you sell your equipment, you need to: find the right buyers! There are various sales channels, such as:

  • specialized online platforms
  • professional networks
  • local medical associations…

The format of your ad is crucial: By giving as much detail as possible, you demonstrate transparency and limit the possible obstacles to purchasing. Be generous with information, specify as many characteristics as possible and highlight added value of your medical equipment.

Step 4: Be open to negotiation

Potential buyers are coming forward? The negotiation phase begins! Many terms of the sale can be discussed: final price, payment terms, delivery, warranty conditions, etc. The key is to close the sale while preserving the value of your investment. Above all, Make clear the responsibilities of each party to avoid any future misunderstanding.

Step 5: Make a proper transfer of ownership

The resale of certain medical equipment is framed by law, more precisely by the European Regulation 2017-745. Article 12 of this regulation states that the new representative must be transfer the property rights through the former agent, for the sake of traceability but also of security for the patient and the practitioner. Free yourself from this responsibility by making a transfer of ownership!

Step 6: Ensure the proper delivery of medical equipment

The last step is to deliver the equipment(s) sold. Often fragile, these often require a careful packaging and one careful transport. Don't forget to provide all necessary documents, such as user manuals and maintenance information.

Ultimately, closing a medical practice or retiring can be a daunting time, but taking these steps can make the transition to the next phase of your career easier.

You can also call on players who know the medical equipment resale market, who will be able to support you throughout the evaluation, sale and delivery process.

At Codeo Medical, our biomedical engineers are committed to helping you give a second life to your scanner, ultrasound machine, endoscope, etc. and to offering you support 100% personalized from start to finish of the sale. Our network of healthcare professionals at European level ensures that you find a new establishment for your device!