On Tuesday evening I had the pleasure of hosting Paul Graham, Head of Dental UK for Christie & Co, on our weekly client webinar.
You can download a copy of their new "Business Outlook 2023" HERE.
Chatham House rules apply to our meetings and so it was a "no holds barred" look at the mergers and acquisitions landscape, with particular reference to the following questions:
What sort of multiples of EBITDA are practices changing hands for at the moment?
Is there any regional variation in value?
Why have earn-out terms from corporates suddenly become so unattractive? What's going on? How to avoid this problem?
How do NHS contracts value, compared to private?
What levels of EBITDA are considered low hanging fruit, undesirable to corporates but available to the small independent who wants to grow?
I also asked Paul to advise the following categories of client:
Those who want to grow from 1 to 10 locations;
Those who want to sell now;
Those who want to sell in 3-5 years.
We had a pretty full house this week but those who missed the call were sent a recording on Wednesday morning.
Yesterday afternoon, I interviewed 2 more prospective Tuesday night guests:
The dentist/developer of an innovative treatment planning presentation package;
One of the brightest sparks in the UK dental accountancy landscape.
Tuesday is information and innovation night in The Extreme Business 100 community.