Yes they will earn above market return on a lower capital base with medical shares in medical practice trading closer to book value - and the economics are the

Yes they will earn above market return on a lower capital base with medical shares in medical practice trading closer to book value - and the economics are the profit share not equity value of the firm. Earning $250k/yr on a $1m capital contribution requires a whole lot less rent seeking than earning the same $250k on a $5m share purchase.