I wouldn’t worry too much about it. With more and more investors having the opportunity to get 5% almost risk free from US treasuries, PE will slowly fade back.

I wouldn’t worry too much about it. With more and more investors having the opportunity to get 5% almost risk free from US treasuries, PE will slowly fade back. The roll up strategy of medical clinics is especially risky now that many of these are trading at 11% interest rates. When ebitda margins are usually 30% when perfect, it doesn’t give you a lot of breathing room.