Sixth Annual Physician Transactions Conference |
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March 9, 2023 Las Vegas, NV
Program Description: The volume of strategic transactions involving physician groups continues to grow across the country. As a result, more physicians than ever are considering and entering into partnerships with larger organizations. Our sixth annual, one-day educational conference will provide in-depth guidance to independent physicians and leaders of independent medical groups on exploring various options to strategically position themselves for long-term success.
Note that speakers are still being added to the program, and the agenda will continue to be updated. |
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Registration & Networking / Continental Breakfast
8:00 a.m. - 9:00 a.m.
Welcome & Opening Remarks
9:00 a.m. - 9:10 a.m.
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Panel 1 - The (Still) Robust Market for Physician Groups
9:10 a.m. – 10:00 a.m. |
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Discussion Topics Include:
- The Still-Hot Market for Physician Groups (Notwithstanding Interest Rate Hikes)
- Physician Group Transaction Volume in 2022, and the Outlook for Volume in 2023
- Top Reasons So Many Medical Groups Are Partnering with Private Equity Platforms
Moderated by Gary W. Herschman, Member of the Firm & Board of Directors, Epstein Becker Green
Insights Provided by:
- Dana Jacoby, Chief Executive Officer, Vector Medical Group
- Tom Price, M.D., former Secretary of Health and Human Services, Congressman & Orthopedic Surgeon
- Michael Meneghini, M.D., CEO, Indiana Joint Replacement Institute, CMO, M2 Orthopedics
- Goran Dragolovic, President & CEO, Covenant Physician Partners
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Panel 2 - Current Market Valuations for Physician Practices and Medical Real Estate
10:00 a.m. – 10:40 a.m. |
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Discussion Topics Include:
- What Is the Value of My Practice?
- Are Valuations Still High or Trending Downward? The Forecast for 2023 Valuations
- Should I Also Monetize (Sell) My Practice’s Real Estate?
Moderated by Hector Torres, Managing Director, DC Advisory
Insights Provided by:
- Chance Sherer, Managing Director, VMG Health
- Collin Hart, CEO & Managing Director, ERE Healthcare Real Estate Advisors
- Todd Mello, Senior Managing Director, FTI Consulting
- Eric Yetter, Managing Director, FOCUS Investment Banking
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Panel 3 - "Second Bite" Transactions Are Real and Growing
10:50 a.m. – 11:50 a.m. |
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Discussion Topics Include:
- Realizing Returns on Second Bites, Third Bites, and So On . . .
- Uncertainty in Future Partner Upon Current Investor’s “Exit”
- What Commitments by Physicians Are Required on "Second Bite" Transactions?
Moderated by Dana Jacoby, Chief Executive Officer, Vector Medical Group
Insights Provided by:
- Thomas K. John, M.D., FAAOS, Active Orthopedics & Sports Medicine / Summit Health
- Kenneth A. Gregg, O.D., (past) President and Medical Director, Eyecarecenter / EyeCare Partners
- Nate Bard, CEO, Triumph Orthopedics
- Lorrie J. Klein, M.D., OC Dermatology/ West Dermatology
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Lunch & Keynote Panel: Early/Mid Career Physicians Who Partnered with Private Equity - Life After Closing
11:50 a.m. – 1:50 p.m. |
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Moderated by Gary W. Herschman, Member of the Firm & Board of Directors, Epstein Becker Green
Insights Provided by:
- David J. Hergan, M.D., Middlesex Orthopedic & Spine Surgeons (Spire Orthopedic Partners)
- Kevin Pelton, M.D., Los Angeles Orthopedic Surgery Specialists (Unity MSK)
- Raymond H. Kim, MD, The Steadman Clinic
- Jeffrey R. Dugas, M.D., Andrews Sports Medicine & Orthopaedic Center (US Orthopaedic Partners)
- Sridhar M. Durbhakula, M.D., OrthoBethesda (Aligned Orthopedic Partners)
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Panel 4 - Maximizing Your Practice's Value: Getting Your House in Order in Advance
2:00 p.m. – 2:45 p.m. |
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Discussion Topics Include:
- Financial Books & Records
- Mock Audit of Billing, Coding, and Documentation
- Compliance Program, and Auditing Other Major Risk Areas
- Fraud & Abuse, IT & HIPAA, and Credit Balances
- Employment & Benefits
- Advance Planning on Wealth, Estate and Tax Matters
Moderated by Kevin J. Ryan, Member of the Firm, Epstein Becker Green
Insights Provided by:
- Jennifer Mannino, Managing Director, BRG
- Daniel L. Brunello, Director Wealth Strategies Group, AllianceBernstein
- Kieran Higgins, Partner, Citrin Cooperman
- Chris Pivik, Vice President of Physician Partnerships, American Orthopedic Partners
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Panel 5 - Key Financial Terms of Private Equity Transactions
2:45 p.m. - 3:30 p.m. |
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Discussion Topics Include:
- Purchase Price vs. Rollover Equity (vs. Earnouts)
- Net Working Capital Targets & Escrows
- Indemnity Escrows vs. Representation & Warranty Insurance
- Go-Forward Compensation Reduction, Incentives, and Potential “Income Repair”
- Tax Strategies
Moderated by Rich Blann, Managing Director, DC Advisory
Insights Provided by:
- Erin Glass, M&A and Executive Liability Advisor, Lockton Companies
- John Bryan, Co-Leader of Health Care Practice, Citrin Cooperman
- Wayne Pryor, Managing Director, VMG Health
- Dan Beuerlein, Managing Director, Brentwood Capital Advisors
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Panel 6 - The Anatomy of a Private Equity Transaction and Process
3:30 p.m. – 4:30 p.m. |
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Discussion Topics Include:
- Advance the Education of All Physicians & Obtaining Internal Consensus
- Whether the Group Should Conduct a “Sell-Side” Quality of Earnings (Q of E)
- Exploring Market Interest & Terms Through a “Process”
- Deciding Whether to Move Forward and the Importance of “Cultural Fit”
- The Importance of Letters of Intent (LOI)
- Due Diligence, Transaction Agreements, and Closing
Moderated by Anjana D. Patel, Member of the Firm, Epstein Becker Green
Insights Provided by:
- Chris Fusco, Chief Executive Officer, Spire Orthopedic Partners
- Dana Jacoby, Chief Executive Officer, Vector Medical Group
- Hector Torres, Managing Director, DC Advisory
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Networking Cocktail Reception
4:30 p.m. – 5:30 p.m. The Venetian |
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