In this episode, we sit down with Dr. Derrick Artis, optometrist, former industry executive, and one of the most sought after industry consultants to discuss practice exit strategies in this brave new world of private equity. 

Key Takeaways:

1. Consolidation in the eye care industry has been going on for more than fifty years. Consolidation on the practice side has been happening for the last 10+ years - 2200 practices have sold to private equity in the last 10 years.
2. If your plan is to sell to another doctor, it is important to be involved with your alma mater and network with students to find a good associate. Second, you'll need to finance part of the sale for the associate. Third, don't ever stop focusing on growing your practice.
3. If you're looking to sell to private equity, understanding your EBITDA number and what multiples PE companies are paying for a practice. Understanding each PE company's approaches is critical. Do not take on new debt or sign a long term contract if you're interested in selling in the next five years. Tighten your operations and processes and look for ways to grow your practice.
4. Consider a multiple arbitrage approach. Join together with local practices to create a more profitable entity where each partner practice could receive more than what it'd be worth on its own.

What Derrick is Reading:

1. Sapiens: A Brief History of Humankind by Yuval Noah Harari
2. Homo Deus: A Brief History of Tomorrow by Yuval Noah Harari