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In this episode, David is joined by investment bankers Clint Bundy and Stewart Carlin from The Bundy Group. Listen as Clint and Stewart explain what investment bankers do and how they help medical practices build value and participate in mergers and acquisitions.

Clint and Stewart each discuss success factors for physicians looking to sell their practice, merge into larger practices or even become an acquirer. They also cover a few common mistakes they often see in the medical practice space. Finally, Clint and Stewart tell David the best ways physicians can vet and compensate a potential investment banking firm and the “one thing” each of them would recommend physicians consider if they may sell their medical practice.

What You’ll Learn:

  • What an investment banker does
  • How the Bundy Group became involved in working with physician practices
  • Success factors physicians should understand when it comes to M&A in the medical practice arena
  • What EBITDA means and how it impacts medical practice sales
  • Common mistakes they see medical practices make when embarking on M&A deals
  • How physicians can vet investment bankers
  • Ideal compensation arrangements for hiring investment bankers
  • The “one thing” each of them would recommend physicians do when considering selling their practices


  • David Mandell: Bio
  • Clint Bundy: Bio
  • Stewart Carlin: Bio