Peter Korbel

Should you sell your practice to a VC-Backed MSO Startup? tldr: - new VC-backed startups are forming MSOs to roll up independent practices - The pitch is physicians receive early liquidity from the roll up and are granted ESOP shares that can be used for retirement - Problem is the use of ESOPs with independent practices is not a new concept and has been used with large group practices since the 70's - ESOPs do not grant full ownership and in order for the shares to be valuable for retirement, the practice needs to run the same if not better post roll up - With VC-backed startups being primarily operated by non-physicians with zero clinical or medical practice experience, the likelihood of this happening is extremely low making the entire concept high risk However, there is a viable path for continued ownership + liquidity for independent practices. Check out the article to learn more. ⤵ https://lnkd.in/gmGvTYwP

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This week Mikal Ventures brings you a 4-week breakdown of the US capital market with an emphasis on the Mikal verticals. Over the 4-week period ending July 8, 728 new companies were added, resulting in just under 96,400 companies included in the US Health Tech, Med Tech, Fin Tech, AI Tech, and Ed Tech verticals. AI Tech maintained its most active status, seeing the greatest percentage of growth in new companies, transactions and news articles. The US Fin Tech vertical led the way in SEC Filings. Mikal Ventures publishes these stats to provide a perspective on how the verticals and new startups move through time. We hope you find them informative and thought-provoking. VC Investors are always adjusting their "Play Book" with a variety of options for investing. Mikal Ventures is one of those alternatives, offering curated solutions to real world problems. Reach out if you have questions on how we can be of assistance and bookmark https://mikalventures.com/ for additional insights and information.

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Great article from PitchBook on why domain expertise amongst VCs matters. TL;DR -- in verticals like healthcare, having investors with high amount of domain expertise can result in up to 40% higher odds of achieving an IPO, 20% higher chance of being acquired and 30% higher chance of an overall successful exit. Importantly, the marginal value of having investors with domain expertise varies by sector and stage, and is not uniform, so your mileage may vary, and generalist investors still have a very important role to play in the venture ecosystem. https://lnkd.in/dXpi8gzm Curious to hear from founders: Do you have examples of seeing specialist investors be helpful in unique ways that you can share? Or alternatively, do you have an experience with a generalist investor who has been more helpful than the specialists?

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We're absolutely thrilled to announce a monumental milestone for Flo Health Inc.! After years of dedication to women's health, Flo, a long-standing member of the Target Global family, has secured over $200 million in Series C funding led by General Atlantic.This incredible investment propels Flo's valuation beyond $1 billion, officially making it a unicorn – a rare and remarkable feat in the femtech space. This accomplishment isn't just about numbers. It's a testament to the power of prioritizing women's health. Flo has seen phenomenal growth over eight years, becoming the #1 downloaded app in the Health & Fitness category. Today, Flo empowers nearly 70 million monthly active users (MAUs) and boasts close to 5 million paid subscribers. Notably, 1 in 4 US women trust Flo, solidifying its position as a leader in the global movement for women's health. But this is just the beginning! This investment fuels Flo's mission to revolutionize female healthcare experiences worldwide. By directing resources towards areas of critical yet unmet needs (which, let's be honest, encompasses a vast majority of women's health!), Flo will continue to be a driving force for positive change. Congratulations Dmitry Gurski,Yuri Gurski, and the entire Flo Health Inc. team! More in the Financial Times here ---->https://lnkd.in/dJZdajM4

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In 2013, Lori Torres felt an undeniable spark when she conceived the idea for Parcel Pending, a smart locker solution designed to tackle the package crisis in apartment buildings. Despite being the primary breadwinner in her family with a thriving real estate career, she took a monumental risk. She left her secure job, sold the family’s cherished home, and even persuaded her mother to risk her property for a loan. Within a year of these sacrifices, Lori had developed her first smart lockers. Her innovation soon caught on, with her lockers becoming a key solution for property management companies and residents. By the end of 2014, Lori’s commitment had not only secured her first major order but also attracted investors, setting the stage for tremendous growth. Within six years, Parcel Pending was sold for $100 million, turning her mother’s loan into a $1 million return and ensuring her family's future. Lori’s story highlights a key lesson for anyone seeking investors: truly committing to your vision can make a world of difference. By investing your own resources and security, you show investors just how dedicated you are to your idea. When you put everything on the line, it not only proves your commitment but also makes a strong case to potential backers. If you’re all in, it’s far easier to convince others to believe in your dream, and it could be the turning point in making it a reality. Are you prepared to go all in on your entrepreneurial dreams? Grab a copy of my book, “Thinking Bigger”, at the link below to read my personal experience chasing my dream and the advice I would share to anyone starting today. https://lnkd.in/dZpQYX6D #Entrepreneurship #WomenInBusiness #Startups #Investment #ThinkBigger

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Having a Cars and Capital event tomorrow in Southern California with Oren Klaff. If you want to join message me. https://lnkd.in/gDQ4D39u Oren Klaff Bridger Pennington #InvestorEvent #FamilyOffice #InvestmentOpportunity #CarlsbadEvent #PrivateEquity #WealthManagement #InvestmentConference #CapitalRaising #NetworkingEvent #IndustryLeaders #FinancialGrowth #InvestorsMeetup #WealthBuilding #BusinessGrowth #InvestmentForum

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Social Capital precludes financial capital. The expertise on this slide contributed to our most recent cohort's success in... -Doubling it's cumulative MRR -Securing pilots -3x'ing sales pipelines Prosper Health Tech Accelerator's in-person and high-touch approach isn't for everyone. But it IS for the (5) five digital health startups that we will be inviting to join our residency accelerator this Fall Applications are open: learn more and apply here: https://lnkd.in/eBpBc-Pj 🕶 A vision of Prosper ⚡ Powered by gener8tor

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I was having a chat with my colleagues the other day about our portfolio (we've got a pretty diverse founder group - it's something we actively monitor and are proud of) and general founder dermographics across VC backed companies. One big discussion point that came about - entirely organically with 'tech bros' as an inspiration - was regarding the age of founders across our portfolio (again, we have a great mix) and more generally across lifesciences/healthcare and tech and whether there was a difference in how well they were performing and their success. So.....me being me....I thought i'd do a bit of reading. As an FYI, this topic came up several year ago pre-COVID (I recall a Wharton report as particularly stand-out-ish) and from memory, the general consensus was that 35 - 45 year olds tended to 'perform' better as entrepreneurs. Has it changed over recent times, especially given the COVID driven digital switch? Here's a snippet of what I found (there are unsurprisingly quite a lot of articles...): 👉 A comprehensive study from FounderJar found that a 40-year-old founder is 2.1 times more likely to succeed than a 25-year-old, with the average age of successful founders at 41.5 years. Even more impressive, the average age of those who exit with an IPO or acquisition is 46.5. You can check out the full article here: https://lnkd.in/eGc_3MRB 👉 Business Initiative reports that 50-year-old entrepreneurs are nearly twice as likely to succeed compared to 30-year-olds, apparently due to their experience, financial stability, and developed networks. More on this here: https://lnkd.in/eGawmZmi 👉 And finally, The article from The Conversation challenges the common belief that young people are the most radical innovators, revealing that individuals over 50 are often the more transformative entrepreneurs. The research highlighted in the article indicates that older entrepreneurs possess greater experience, industry knowledge, and networks, which allow them to take a more innovative approach to problem-solving. Link: https://lnkd.in/erjpWRWD Thoughts welcome... #Entrepreneurship #StartupSuccess #ExperienceMatters #AgeIsJustANumber #EarlyStageInvesting

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Some VC investors believe that brick and mortar - referring to a physical presence of some kind - should be avoided at all costs. Yet, the track record of clinic and hybrid care businesses in health care indicates otherwise. ==> One Medical (sold for $3.9 billion to Amazon), Oak Street (bought by CVS for $10.6 billion), Lifestance (IPO at $7.5 billion market cap), and PE-backed Premise Health (acquired by OMERS Private Equity for $1.1 billion) If a clinic is indicated as the optimal way to deliver care for that patient population, there are creative ways to build and operate them. Full article below with advice and strategies on how to build and operate hybrid clinics from my teammate Anarghya Vardhana from Maveron, Amir Dan Rubin from OneMedical Group, Steven Eidelman from Modern Animal and more!

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The landscape for raising capital has evolved tremendously! There’s a surplus of funds ready to back promising ventures, making it a prime time for entrepreneurs with solid ideas and teams. 💡 When I started, such investment firms were scarce, but now, with countless private equity options, securing funding has become more feasible. This influx has been instrumental in creating wealth for our teams and stakeholders. A great idea and a strong leadership team are your tickets to attracting these investments—embrace them and go after that capital. 💰🔗 #Author #BusinessBooks #TheValueEquation #ChrisVolk #WealthBuilding #MoneyMatters #LeadershipSkills #BusinessModel #BusinessLeadership #BusinessStrategy #FinancialLiteracy #CompanyCulture #EntrepreneurMindset #BusinessManagement

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Obesity is a pressing health concern affecting 42% of Americans, and its impact reverberates across every state in the union, where at least 20% of the population grapples with this condition. The staggering cost of chronic illnesses linked to obesity—such as heart disease, diabetes, stroke, and certain cancers—surpasses an astronomical $1.76T annually. In the healthcare space, there’s been a growing trend towards value-based care focused on delivering preventative, rather than reactive care. This leads to improved patient outcomes, increased quality of care, and optimized spending.  Ilant Health is a value-based obesity management platform that sits at the intersection of these two factors. Working directly with employers and health plans to offer a comprehensive set of services for obese patients including bariatric surgery, anti-obesity pharmaceutical treatments like WeGovy, and active behavioral therapy.  For healthcare plans and employers, Ilant features a signature data-driven claims analytics engine that focuses on reducing medical costs driven by comorbidities emerging from obesity and driving patient adherence and engagement, ultimately leading to reduced healthcare spend. AlleyWatch caught up with Ilant Health Founder and CEO Elina Onitskansky to learn more about the business, the company's strategic plans, latest round of funding, and much, much more...

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The "silver tsunami" of retiring business owners is upon us, and the demand for buyers is increasing. Search funds like Amarok Partners play a crucial role in acquiring these businesses and fostering their growth. Find out how we help companies transition seamlessly and preserve their legacy. Visit the Amarok Partners website at www.amarok-partners.com #SilverTsunami #SearchFunds #BusinessGrowth #AmarokPartners

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This week Mikal Ventures brings you a 4-week breakdown of the non-US capital market with an emphasis on the Mikal verticals. Over the 4-week period ending July 22, 1,681 new companies were added, with over 104,500 companies included in the non-US Health Tech, Med Tech, Fin Tech, AI Tech, and Ed Tech verticals. The non-US AI Tech saw the greatest percentage growth in new companies for the period at 26%, vs. the vertical average of 16% for the period. That vertical also led the group in transactions and news articles. The non-US Med Tech vertical led in SEC Filings. Mikal Ventures publishes these stats on a rolling 4-week basis to provide a perspective on how the verticals and new startups move through time. We hope you find them informative and thought-provoking. VC Investors are always adjusting their "Play Book" with a variety of options for investing. Mikal Ventures is one of those alternatives, offering curated solutions to real world problems. Reach out if you have questions on how we can be of assistance and bookmark https://mikalventures.com/ for additional insights and information.

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The healthcare landscape is rapidly evolving, driven by advancements in technology and a deeper understanding of patient care. I had the pleasure of speaking with Ambar Bhattacharyya, Co-Managing Partner at Maverick Ventures, on the latest episode of The Full Ratchet. Ambar has partnered with numerous billion-dollar companies like hims & hers, Cityblock Health, Devoted Health, and ConcertAI. His unique journey from rural America to becoming a prominent figure in venture capital offers invaluable insights into the future of healthcare and technology. We discuss his investment strategy at Maverick Ventures, the megatrends shaping healthcare, the impact of AI on the industry, and the importance of integrated care. Ambar also shares his thoughts on the challenges and opportunities in healthcare investment, offering a comprehensive view of what lies ahead. Check out TFR Episode 438 to catch our conversation. You'll be glad you listened. Link to the full episode is in the comment section below.

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Innovation and equity can align with an equilibrium that drives inclusive growth. Neil Lee’s newest book, Innovation for the Masses: How to Share the Benefits of the High-Tech Economy, emphasizes that innovation at its strongest is not just about the radical breakthroughs but rather also demonstrations of collaborative and iterative processes. As he puts it, innovation “is about teams and building on each other’s work, often in incremental ways and at different scales.” Lee draws attention to three types of institutions that contribute to the success of public innovation policy: generative, diffusive, and redistributive. 1/ Generative institutions, such as leading research universities, help spark new ideas. Capital formation through venture capital directs private funds towards innovation. 2/ Diffusive institutions, including vocational education programs, tech commercialization offices, and local business networks, spread innovation’s benefits by bridging gaps between different sectors of society and industry. Capabilities are shared acrosss domestic industries, connecting key experts. 3/ Redistributive institutions, such as labor market policies and strong public services, ensure that innovation’s gains reach the broader population. Government can have a positive and powerful role in setting the ethos and culture to inspire innovation across all generations. SSTI’s book review is below, shared by the Illinois Science and Technology Coalition. It’s a wonderful synthesis of his key ideas: https://lnkd.in/eTVZWuYa

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Rock Health has unveiled insights from a recent survey focusing on U.S. adults managing their weight. The industry has witnessed substantial advancements in the last 5 years, with the emergence of GLP-1's new opportunities have surfaced for brands and companies to offer enhanced support services and products to consumers. What is an innovative product or service you have seen that is providing value to consumers on their weight management journey? #Healthcare #WeightManagement #Healthandwellness

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Had a blast diving into Amir Dan Rubin's extensive healthcare career on Vital Signs. Amir previously served as the CEO of One Medical and Stanford Health Care, was an EVP at United/Optum and is now the Founding Managing Partner at Healthier Capital. Our conversation spanned payer-provider integrations, lessons learned from leading One Medical, applications of generative AI, and more. Some highlights: ⚡Combining care models We talked a lot about the One Medical/Iora combination. Amir argues that just because two care delivery approaches may occupy the same physical location (e.g., a clinic), that doesn’t mean they necessarily need to conform to the same economic model. For instance, One Medical and Iora were able to combine effectively despite the former being a membership model and the latter being global capitation. Amir emphasizes that much of the overhead resources (e.g., front desk staff, phlebotomy) can be shared across models. ⚡How One Medical uses generative AI to improve efficiency One Medical allows members to message the care team, and then uses NLP to read the message, figure out its content, and triage it to the appropriate team member. Amir is excited about leveraging internal knowledge graphs to get around hallucinations. This approach can point to relevant internal data in helping compose responses, creating more trust and accuracy in the outputs. ⚡Behind the Amazon acquisition One Medical was interested in expanding its direct to consumer offering. However, they recognized that customer acquisition was costly, which is why partnering with Amazon Prime’s existing membership base made sense for them. Amir explains how at their core, both Amazon and One Medical are all about using technology and logistics to create an excellent customer experience. An awesome conversation ranging from health system innovation to startup strategy to health tech investing! Listen to our full episode below: Spotify: https://spoti.fi/3Wrbnol Apple: https://apple.co/3XWOomb

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I recently sat down with Michael Batko, CEO at Startmate and Founder of Puddle Pod for Episode 11 of Insane Ambition. Startmate has invested in 230+ startups, much of it under Michael's leadership, and now has $3.5b in value across its portfolio companies. In this episode, we discussed: - Michael's journey from consulting, then living in the Amazon rainforest, to leading Australia's biggest startup accelerator - The future of Australia's startup ecosystem - The labour government's very stupid plan to make it harder for people to qualify as sophisticated investors (now thankfully shelved) - Startmate City! Startmate's plan to build Australia's first startup city. Probably the most ambitious idea I've ever heard from a startup accelerator. - The balance between visionary thinking and traditional startup advice (think Elon Musk's plan to colonise Mars, vs Y Combinator's problem/customer obsession) - "The Courage to Be Disliked", and its influence on Michael's approach to life and business. Links in the description below 👇

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