Tl Carey MD & Associates, Inc
How we got $3.1M
Based on its 16 employees and its payroll, both reported for PPP in 2020 and brought up to date.
What we know
Signs of a sale Unlikely to sell soon
- Headcount down 28% since 2021 (retirement plan filings)
From public records and the company's website, not a statement that it's for sale.
Estimated value over time
▲ 23% since 2020Today's estimate scaled by the headcount reported each year and that year's prices. A trend, not a record of past sale values.
Employees over time
▲ 225% since 2020Show as table
| Year | Source | Employees | Est. revenue |
|---|---|---|---|
| 2020 | PPP loan | 16 | $3.6M |
| 2020 | Form 5500 | 67 | $14.9M |
| 2021 | Form 5500 | 72 | $16.0M |
| 2022 | Form 5500 | 62 | $13.8M |
| 2023 | Form 5500 | 61 | $13.6M |
| 2024 | Form 5500 | 52 | $11.6M |
Participants are employees in the company's retirement plan at year end, from its Form 5500 filing with the Department of Labor. They usually run a little under total headcount (part-timers and new hires may not be eligible). Revenue and EBITDA apply this industry's revenue per employee and margin to each year's count.
Compared with similar businesses nearby
| Business | Est. revenue | Distance |
|---|---|---|
| TL CAREY MD & ASSOCIATES, INC this business | $4.2M | — |
| Specialized Home Nursing Tulsa | $1.5M | 0.0 mi |
| DR STUART HOLDERNESS & ASSOCIATES Tulsa · 4 employees | $2.1M | 0.1 mi |
| Picc Pros Llc Tulsa | $1.5M | 0.1 mi |
| OPHTHALMOLOGY OF TULSA PLLC Tulsa · 1 employees | $654K | 0.1 mi |
| WALTER JAMES PETERS JR MD INC PC Tulsa · 1 employees | $699K | 0.1 mi |
| Our Place Tulsa | $1.5M | 0.1 mi |
The full calculation
| Employees reported to the SBA | 16 |
| Revenue from headcount (employees × revenue per employee for companies this size) | $4.2M |
| Revenue from PPP payroll (payroll ÷ payroll's share of revenue for companies this size) | $3.2M |
| Estimate: the two combined (geometric mean) | $4.2M |
| EBITDA margin (industry, adjusted for size) | 18% |
| EBITDA = revenue × margin | $745K |
Figures are shown toward the upper part of their range rather than at its middle.
Brought up to date assuming revenue has grown 8% a year since 2020, when the PPP figures were reported; included above.
| Estimated value = EBITDA × typical sale multiple | $3.1M |
| Multiple for this size and industry | 4.1× |
| Value range | $1.6M – $4.2M |
| Revenue range | $2.8M – $4.8M |
| EBITDA range | $490K – $849K |
| Industry (NAICS) | Offices of Physicians (except Mental Health Specialists) (621111) |
EBITDA margin: from IRS tax returns of S corporations in this industry (2019–2022), adjusted for company size: smaller companies typically run higher margins. EBITDA here is after owners' salaries.
Benchmarks: US Economic Census 2022, OK. PPP loans were sized on 2019–2020 payroll, so figures reflect that period. These are statistical estimates, not reported financials. Full methodology
People & advisors
Advisors
- BankingVast Bank, National AssociationPPP / SBA lender
From the company's own website and public filings (DOL Form 5500, IRS Form 990, SBA). Roles are as stated there and may be out of date.
Banking relationships
| Vast Bank, National Association PPP 2020 | All 359 borrowers → |
From PPP and SBA loan records, which name the bank but not the individual banker.
PPP loans
| Approved | Draw | Amount | Jobs |
|---|---|---|---|
| 4/15/2020 | first | $172K | 16 |
Public records
Matched to this business by name and address from public government data; a match can occasionally be wrong.
About Tl Carey MD & Associates, Inc
Tl Carey MD & Associates, Inc is a doctors & clinics company in Tulsa, Oklahoma. It is owned by Terence Leonard Carey. Its estimated annual revenue is about $4.2M, with roughly $745K of EBITDA. It has about 52 employees. Its estimated business value is $3.1M (likely range $1.6M–$4.2M).
Common questions
- Who owns Tl Carey MD & Associates, Inc?
- Tl Carey MD & Associates, Inc is owned by Terence Leonard Carey, according to public sources such as the company's website or filings.
- How much revenue does Tl Carey MD & Associates, Inc make?
- SeeBITDA estimates Tl Carey MD & Associates, Inc's annual revenue at about $4.2M (likely between $2.8M and $4.8M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is Tl Carey MD & Associates, Inc worth?
- About $3.1M, roughly 4.1× its estimated EBITDA of $745K, typical for a doctors & clinics company its size. Likely range: $1.6M–$4.2M.
- How many employees does Tl Carey MD & Associates, Inc have?
- About 52, from its 2024 retirement-plan filing.