Gary N. Wiessen

Background and Credentials of Gary N. Wiessen

I received my B.A. in Psychology at Hunter College (City University of New York) in 1969. I began working as a Hospital Personnel Assistant at Beth Israel Medical Center, New York City. Later I became Assistant Director of Personnel at the Jewish Hospital and Medical Center, Brooklyn, New York. After first attending Cornell University Graduate School of Industrial and Labor Relations in New York, I entered a full time program to pursue my interest in hospital management. I presently hold a Masters Degree in Hospital Administration from Columbia University, School of Public Health and Administrative Medicine, Columbia-Presbyterian Medical Center, New York City. After completing two "Administrative Residencies", at both United Hospital in Port Chester, New York and Thayer Hospital in Waterville, Maine, I received my M.S. Degree in 1972. I was the first recipient of the prestigious "Anthony Marenga Memorial Award" for an article I had published while at Columbia. I was then employed as a Hospital Administrator at Jamaica Hospital and Medical Center and Hillcrest Hospital, both in Queens, New York.

I had worked with the medical staff at seven different hospitals, and by 1976, I sold my first practice to my former chief resident (in medicine) at Jamaica Hospital. I began to familiarize myself with other types of practices. Later that year I organized two corporations, Medigroup Inc. and Medigroup Realty Inc. They specialized in the sale of medical, dental, podiatry, optometry, chiropractic, and other professional practices. Some included real estate such as home-office combinations, professional condominiums and cooperative apartments. Over the next several years, I attended numerous meetings and conventions. These included those sponsored by the New York State Medical Society, The Greater New York Dental Association, in addition to other professional associations. In 1986, after some attempts at franchising my corporations, I began functioning independently under my own name.

I have assisted hundreds of practitioners over the past 28 years, appraising and selling their practices. I am an "expert witness", having testified as to the value of these assets on numerous occasions. Many cases involve "equitable distribution" when the value of the professional practice becomes an issue in a divorce. Other cases involve partnership disputes. I have been quoted in Physician's Management Magazine in articles concerning professional practice transfer. I have also been a guest speaker at workshops for attorneys as well as financial planners. I have been licensed as a Real Estate Broker in New York State since 1976, in order to arrange transactions when real estate is included in the sale. I provide consulting and brokerage services to professionals who are selling their practices. In addition, I represent prospective purchasers when they are seeking new opportunities. They can be individual practitioners, groups, or hospitals, who contact me when they require consultation to ascertain a value for practices they wish to purchase. I negotiate the arrangements for the acquisition of the practice and recommend contractual terms to attorneys who draft the legal agreements. I am also licensed to assist with financial planning matters. Therefore, I can give disability, pension and retirement advice to professionals who are buying or selling practices.