Książka Phantom EBITDA James DeLuca

Phantom EBITDA

The Pre-LOI Defense Playbook for 8-Figure Dental Exits

Język: Angielski
Oprawa: Miękka
Dostępność: Dostępna u dostawcy
Wysyłamy za 14-21 dni
62.42
The playbook exists. One side has it. Now the other side does too.Every year, dental practice owners...

Informacje o książce

Język
Angielski
Oprawa
Książka - Miękka
Data wydania
2026
strony
150
EAN
9798254438991
Enbook ID
52118111
Waga
211
Wymiary
152 x 229 x 8

Pełny opis

The playbook exists. One side has it. Now the other side does too.

Every year, dental practice owners walk into acquisition meetings having spent decades building something real - and walk out with a number that reflects what a buyer could negotiate, not what the practice was worth.

The mechanism is not mystery. It is information asymmetry.

Private equity enters every dental acquisition with a QoE team, a payer mix model, and a forensic audit protocol built on one assumption: the seller doesn't have the same data. They're usually right. The practice owner has a CPA who reads the P&L. The buyer has an analyst who reads the Practice Management Software. That gap - between what the financials show and what the clinical data reveals - is where deals get re-traded after the LOI is signed and the seller has surrendered their leverage.

Phantom EBITDA names the mechanism precisely: the revenue that appears defensible on a P&L but evaporates under a Quality of Earnings audit, enabling buyers to compress valuations after exclusivity is signed and the seller cannot walk away.

This book documents:

  • How PE buyers extract, benchmark, and weaponize your own PMS data against you

  • The specific clinical compliance findings - D2950 overbilling, hygiene code alternation, payer collection anomalies - that destroy EBITDA at the closing table

  • Why the five-year PMS look-back reveals what your three-year P&L cannot hide

  • The behavioral signals - refund history patterns, undocumented clinical changes, escheatment liability - that sophisticated buyers flag before you know they're looking

  • How to build a Defensible Data Room years before a transaction - and why starting early is the only thing that actually changes your multiple

  • The Pre-LOI Forensic Sanitization process: running your own hostile audit before a buyer does, and using the findings to build an institutionally auditable asset that commands a premium
Phantom EBITDA is not a motivational book about mindset or a broker's guide to maximizing curb appeal. It is a forensic manual written by someone who has sat inside the DSO organizations that designed the acquisition playbook - and now operates exclusively on the sell side.

If you are 3-5 years from a potential exit, the clock is already running. If you are 12 months out, you are behind. If you are 6 months out, you are in the kill zone.

The only way to survive a buy-side Quality of Earnings audit is to conduct your own, more hostile audit first.

This book shows you exactly how.

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