Adding value to a practice today helps maximize the value at exit.
This webinar series would not have been complete without speaking to someone who had been through the process of a successful sale to private equity. Dr. Scott Jens sat down with Dr. Brandon Blaker, of Hill Country Vision Center, the first practice in Texas to be acquired by private equity for consolidation.
What really fascinated us was how Dr. Blaker took it upon himself to deliberately increase his practice’s valuation years before he began the process of transitioning out of the role of practice owner. He shared with us during this interview which tools he opted to use, and how he managed to make them effective. The techniques that Dr. Blaker used are available any OD practice owner to leverage ahead of a plan for practice transition. We asked him how they could be used to add value to a practice right away, and how that might change the practice value down the road.
Dr. Blaker grew his practice from one location to five using these techniques, and his success helped to make the business more attractive to private equity. But making that transition did require some changes both in thinking and in how Dr. Blaker works. He describes how his work day is different now, and what some of the challenges – and benefits – have been during this process.
Dr. Jens asked a great question at the end of this interview. “What is your key advice to any OD right now?” Dr. Blaker believes that “if you don’t run your business like you’re planning to sell it, you’re not really running it.”