Private Equity and Physician Practices: What Physicians Should Negotiate Before Signing with Greg Schaefer

Private equity has reshaped much of American healthcare over the past decade, and few observers have seen that shift from as many angles as Greg Schaefer. As CEO of Schaefer Enterprises and a partner with Patriot Growth Insurance Services, Schaefer has insured medical practices through private equity acquisitions, sold his own insurance agency to a PE firm in 2019, and watched his wife sell her dermatology practice to a PE-backed rollup in 2018.

In this episode, host Mike Sacopulos talks with Schaefer about:

• Why healthcare — especially specialties such as dermatology, ophthalmology, orthopedics, dentistry, and behavioral health — has become a prime target for private equity investment.
• What physicians often misunderstand about deal structure, including cash, equity, holdbacks, and earnouts.
• How ownership changes can affect malpractice coverage, consent rights, and physician autonomy after closing.

Schaefer also offers practical guidance for physicians considering a sale, including what to ask, what to protect, and where to seek expert advice before signing. The conversation closes with a look at the Forward Motion Fund, the nonprofit he and his wife founded to support Parkinson’s research.

Learn more about the American Association for Physician Leadership.

https://doi.org/10.55834/sp.6693847187