E#36 | Joshua Catlett: Buy, Sell & Scale Clinic, M&A and Valuations | Business of a Clinic (BOAC)

In this episode of BOAC, Jared sits down with Joshua from Verilo to unpack the realities of building, buying, selling, and scaling private healthcare clinics in the UK. Joshua shares his journey from training as a physiotherapist to acquiring his first practice at 22, growing what became BodySet into a 36-site group, and eventually moving into the world of healthcare M&A through Verilo. The conversation covers what makes a clinic attractive to buyers, the importance of maintainable EBITDA, owner dependency, lease risk, operational diligence, and why many clinic owners only discover critical business issues when they begin preparing for a sale. Jared and Joshua also explore the growing role of technology and AI in private practice, the pressure facing small healthcare businesses, and why the next wave of clinic growth may depend on better data, better systems, and smarter adoption of new tools. Topics covered: 📍Joshua’s journey from physio to clinic operator and M&A advisor 📍Building and scaling BodySet to 36 sites 📍What buyers look for in private healthcare clinics 📍Owner dependency, lease security, and maintainable EBITDA 📍Common deal risks that can derail a clinic sale 📍Why clinic owners need better visibility on their numbers 📍The future of AI, automation, and technology in private practice 📍How buyers and sellers should think about the next phase of healthcare consolidation Subscribe for more conversations on the business of private healthcare, clinic growth, and the future of healthcare operations.