For the next two weeks, I will be sharing a conversation I had with my friend Perrin DesPortes about practice transitions and group practice. In this first half of our conversation, we go over the state of the industry, DSO mania, the changes going on in the marketplace, and where doctors need to be looking to set up a successful game plan and path forward.
Listen in as Perrin gives us a glimpse into his family history with dentistry and practice transitions, as well as what his company, Polaris Healthcare Partners, does to guide practices and practice owners toward successful transitions. You’ll hear about the changes in opportunities, valuations, private equity, and important things to keep in mind as you evaluate your practice transition options.
- 1:53 – Who Perrin is and his background in dentistry.
- 7:25 – The role Polaris plays in practice changes and transitions over the years.
- 9:29 – The kinds of businesses that are best at being consolidated.
- 13:32 – Why building a group practice can be akin to a defensive strategy.
- 15:35 – Differentiating the group practice, doctor funded vs. equity funded.
- 19:03 – The rush to invest in dentistry and how that affects your valuations.
- 22:54 – What you need to know if you’re in the doctor-founded, debt-funded camp.
Featured on the Show:
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P.S. Whenever you’re ready, here are some other ways I can help fast track you to your Freedom goal (you’re closer than you think) :
1. Schedule a Call with My Team:
If you’d like to replace the earned income you need from your practice with investment income in as little as 2-3 years, and you have at least 1M in available capital (can include equity or practice sale), then schedule a call with my team. If it looks like there is a mutual fit, you’ll have the opportunity to attend one of our upcoming member events as a guest.
2. Become a Full-Cycle Investor:
There are many self-proclaimed genius investors today who think everything they touch turns to gold. But they’re about to learn the hard way what others have gained through “expensive” experience. I’m offering a report on how to become a full-cycle investor, who knows how to preserve and grow capital in Up markets and Down markets. Will you be prepared when the inevitable recession hits? Get your free report here.
3. Get Your Free Retirement Scorecard:
Benchmark your retirement and wealth-building against hundreds of other practice professionals, and get personalized feedback on your biggest opportunities and leverage points. Click here to take the 3 minute assessment and get your scorecard.
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