Partnership deed between medical practitioners for hospital

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This query is : Resolved

Tanaya Shinde (Querist)

07 March 2019 Sir,
Please provide me an ideal format of Partnership deed between medical practitioners to start a new hospital.

Aashok Kumar Sharma

Aashok Kumar Sharma

(Expert)

09 July 2024 Creating a partnership deed for a new hospital involving medical practitioners requires careful consideration of various aspects related to ownership, responsibilities, profit-sharing, decision-making, and more. Below is an ideal format outline for a partnership deed. Please note that you should customize it according to your specific requirements and legal advice:

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**Partnership Deed**

**1. Name and Nature of the Partnership:**
- The partnership shall be known as [Hospital Name] and shall operate as a [Type of Partnership] under the laws of [Country/State].

**2. Parties to the Agreement:**
- This partnership deed is entered into on [Date] between the following medical practitioners:
- Dr. [Name] (Specialization: [Specialty])
- Dr. [Name] (Specialization: [Specialty])
- Dr. [Name] (Specialization: [Specialty])
- Dr. [Name] (Specialization: [Specialty])

**3. Objectives of the Partnership:**
- The primary objective of the partnership is to establish and operate a hospital facility providing [Type of Medical Services] services to the community.

**4. Capital Contribution:**
- Each partner shall contribute to the capital of the partnership as follows:
- Dr. [Name]: [Amount or Percentage]
- Dr. [Name]: [Amount or Percentage]
- Dr. [Name]: [Amount or Percentage]
- Dr. [Name]: [Amount or Percentage]
- The contributions shall be used for acquiring premises, medical equipment, operational expenses, and other necessary investments.

**5. Profit Sharing:**
- Profits and losses of the partnership shall be shared equally among the partners, unless otherwise agreed upon in writing.

**Management and Decision-Making:**
- The management of the hospital shall be carried out jointly by all partners.
- Major decisions regarding finances, patient care policies, hiring of staff, and expansion plans shall be made by unanimous consent of the partners.

**Roles and Responsibilities:**
- Each partner agrees to contribute their professional expertise and time to the operation of the hospital.
- Specific responsibilities and duties of each partner shall be detailed separately and appended to this deed as Schedule A.

**Bank Accounts and Financial Management:**
- The partnership shall maintain a bank account in the name of [Hospital Name].
- All income, expenses, and financial transactions shall be recorded accurately and transparently.

**Dissolution and Exit Clause:**
- The partnership may be dissolved by mutual agreement or under circumstances outlined in a separate dissolution clause.
- In case of voluntary withdrawal or death of a partner, the remaining partners shall have the right to purchase the withdrawing partner’s share at a mutually agreed-upon valuation.

**Dispute Resolution:**
- Any disputes arising out of this partnership shall be resolved through mediation or arbitration as agreed upon by the partners.

**Amendments to the Deed:**
- This partnership deed may be amended by mutual agreement in writing signed by all partners.

**IN WITNESS WHEREOF**, the partners have executed this partnership deed on the date first above written.

**[Signatures of All Partners]**

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This format provides a basic structure for a partnership deed for a hospital. It's crucial to customize it according to your specific circumstances, seek legal advice to ensure compliance with local laws, and include detailed schedules for roles, responsibilities, and any other pertinent details related to your hospital venture.

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