Debt in group practice M&A is one of the most misunderstood and emotionally charged topics in the mental health business.

In this solo episode of Your Group Practice, Dan King breaks down the role debt plays when selling some or all of your practice. Drawing on real-world experience from both the buyer and seller side, he demystifies how debt actually works and why avoiding it isn’t always the smartest move.

Dan explores why debt is almost always part of the equation in modern transactions, especially when working with financial buyers. He challenges the stigma around debt, reframing it not as inherently good or bad, but as a tool that can amplify both positive and negative outcomes.

In this episode, you’ll learn:

•  Why debt is considered the “cheapest capital” in M&A 
•  The difference between external financing and seller financing 
•  How recapitalization deals work when you don’t fully exit 
•  The emotional and psychological weight of debt and how to think about it differently 

This episode is essential listening for group practice owners considering growth, partnership, or an exit. Understanding debt isn’t optional; it’s a core part of building a strategic, sellable business.

Transform Your Group Practice

Actionable insights for practice owners and clinicians who want to lead, grow, or exit with purpose. This is the podcast shaping a stronger mental health system — one practice at a time.

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About the Host

Dan King is a lawyer turned private equity founder with a passion for fixing burnout in mental health. With a background in M&A, Shark Tank deals, and psychology, he now leads Fireside Strategic — investing in group practices that put people first.

• LinkedIn: linkedin.com/in/danmking
• Website: firesidestrategic.com