I help people start or scale medical practices. I own a multi-million dollar business / primary care practice.
A physician reached out to share a story that every practice owner needs to hear. He co owned a specialty group, scaled it to multiple locations, and sold it for a headline price of $10 million. It sounded like the dream exit. Then reality set in.
In this episode I walk through exactly how that $10 million purchase price eroded down to just $2.5 million in his pocket. We break down the numbers step by step: the 40 percent equity rollover, the salary cut after becoming an employee in his own clinic, the performance metrics and the million dollar clawback, the legal and broker fees, and the taxes. Then came the worst part. The private equity firm loaded the new company with debt, missed the expansion goals, and filed bankruptcy, wiping out the rolled equity overnight.
This is a real story with the specialty, name, and state changed for privacy and shared for entertainment purposes. It is not always a disaster, and a second bite can pay off, but you have to understand the gotchas before you ever sign. If you are a physician thinking about an exit, a divestiture, or your retirement strategy, watch this before you take the meeting.
I am Brad. I own a private practice, I am a practicing physician, and I help people start and scale medical practices. Reach out if you want to talk through your own situation.
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If you’re wondering who are the best podcasts for doctors: I’ve put a list below of my favorite doctor podcasts or podcasts for Doctor entrepreneurs.
How I Built This by Wondery is an inspiring podcast that delves into the journeys of innovators, entrepreneurs, and visionaries who built some of the world’s most successful companies and movements. Hosted by Guy Raz, the show unpacks the challenges, failures, and pivotal moments that shaped these entrepreneurs’ paths to success. For physician entrepreneurs, this podcast serves as a treasure trove of valuable insights into building and scaling a business, overcoming obstacles, and fostering innovation. The lessons shared by diverse guests resonate with physicians seeking to merge their medical expertise with entrepreneurial ventures, offering both inspiration and practical strategies to navigate their own paths to success.
The Game with Alex Hormozi is a no-nonsense podcast that provides actionable advice and strategies for scaling businesses, building wealth, and mastering the art of entrepreneurship. Hormozi, a successful entrepreneur and investor, shares his personal experiences and insights on topics like sales, marketing, leadership, and mindset, offering listeners a roadmap to achieving their business goals. For physician entrepreneurs, this podcast is an excellent resource for gaining a deeper understanding of business fundamentals and strategies to grow and sustain a private practice or healthcare venture. With its direct and results-oriented approach, The Game equips physicians with the tools they need to navigate the entrepreneurial landscape with confidence.
Acquired is a deep-dive podcast that explores the stories behind the biggest companies and acquisitions in history, offering insights into how they rose to success and the strategic decisions that shaped their trajectories. Hosted by Ben Gilbert and David Rosenthal, the show goes beyond surface-level narratives to analyze business models, leadership choices, and market dynamics in a way that’s both engaging and highly educational. For physician entrepreneurs, Acquired provides valuable lessons on scaling a business, navigating complex industries, and understanding the nuances of creating sustainable growth. By dissecting real-world examples, this podcast equips physicians with the strategic mindset needed to innovate and excel in their entrepreneurial endeavors.
