PE is buying up dentistry and I know several people who sold to PE just to get squeezed (HARD) by interest rate increases. Their ROI was dependent on the continued availability of cheap money and now that margin is gone.
In March 2020, we were shut down for almost 2.5 months with just AR coming in. Our payroll is six figures per month and while we didn't lay anyone off or reduce staffing, the concept that everyone else gets paid before me or my partner became a real reality. We must be suckers because elsewhere in business it seems PE gets paid before employees. This gamble ultimately served us well because we retained most employees at a time when there was a huge shift of people out of health care and a real hiring crunch that we didn't have to participate in to ramp back up. We would never expect anyone to work without being paid.
I understand your thoughts but a lot has changed over the years. My father would rather die than go on 'welfare' because of the shame....that's not at all the case with most people today.
