Crucial Conversations Gallery

Paul Martin draws six business lessons for PT practice owners from Rory McIlroy's journey to back-to-back Masters titles covering how to use failure as fuel, why loyalty to your team compounds over time, and what to do when a breakthrough finally arrives.

With oil prices surging and inflation back in the conversation, buyers are still active but far more selective. Paul Martin breaks down what separates the practices getting premium multiples from the ones leaving money on the table, and the six things you should be doing right now to position yourse...

Joseph Anzur, Director of M&A, and Josh Meyers, Director of Consulting Services, break down why a busy, performing practice is not the same as a market-ready one, and what that gap costs owners at the close.

Coach Dusty May of the University of Michigan took five transfer portal players from five different programs and turned them into national champions in a single season. Paul explains how every lesson from that run applies directly to building and growing a physical therapy practice.

Norene Christensen spent 20 years building Four Pines Physical Therapy the right way, and it showed when it was time to sell. MHA consultants Kevin Anderson and Dave Pearce walk through the full journey, from financial chaos to a sale that kept her name, her team, and her culture intact.

Chris Reading, CEO of USPt, joins Paul to separate what acquirers promise from what they can actually deliver. Thirty-five years in the partnership model makes him worth listening to before you decide.

Most sellers fixate on valuation. Justin Novinger and Peter Chung of Thrive Physical Therapy Partners argue that owners who go deepest in their research consistently shift focus toward fit, culture, and long-term alignment.

Aaron Kraai has grown Doctors of Physical Therapy from a single clinic to 200+ sites across 24 states by doing things many acquirers won't. In this conversation, Aaron joins Paul to talk about what real partnership looks like and what serious sellers should be asking before they sign.

Steve Chenoweth, co-founder and CEO, and Brian Barth, Chief M&A Officer of Therapy Partner Solutions  explore what sets a clinician-led acquirer apart. They break down why founders keep choosing TPS over other offers and how building infrastructure before acquisitions is what makes the difference.

Outcomes can look very different depending on the partner you choose. In this conversation, Paul speaks with Bill Leitzel of Ivy Rehab about the cultural and structural factors that determine whether a partnership truly works.

John Gallucci has built JAG into a clinician-led, private equity-backed platform across the Northeast. In this candid discussion with Paul,he explains who JAG is looking for, who they avoid, and how they think about long-term partnerships.

This week Paul returns to an old series as he revives the “New Friday Morning Moment”
with a clear message: staying the same may be the fastest way to fall behind.

Coach Curt Cignetti built winning programs by installing standards and discipline before chasing results. Paul applies that same mindset to practice leadership, recruiting, and growth that holds under pressure.

Paul meets with Larry Zekhtser, Lian Amado, and Kristen Minihan from ADP
to discuss how HR infrastructure evolves as practices scale, and how buyers tend to evaluate it.

This week, Paul Martin looks at leadership through the lens of an elite organization
that didn’t inherit success; instead they engineered it.

Paul Martin is joined by Jon Dooley, founder of Greendale Physical Therapy,
for a conversation on growth and leadership while building a multi-site practice.

Paul Martin shares his perspective on a potentially busy year ahead for rehab transactions.

In this episode, Paul Martin looks back at 2025 with a grounded perspective of what truly shaped the outpatient rehab M&A market.

As we head into the holidays, Paul Martin and the entire Martin Healthcare Advisors team want to thank our clients for the trust you place in us. Wishing you and your families a safe, restful, and happy holiday season—and we look forward to what we’ll build together in 2026.

In this episode, Paul shares his perspective on a recent CMS update and why it’s worth paying attention to. Tune in to find out how this update will affect your practice now and in 2026.

Paul walks through his perspective on the new rate cut announcement. Find out how Paul thinks the announcement will affect the new year and what you can do to strategical position yourself for growth.

Julie Herres of Green Oak Accounting works with a wide range of practices—both smaller emerging clinics and larger multi-site groups. In this episode, Paul focuses on how smaller practices, in particular, can use her financial clarity approach to drive better performance and long-term success.

Paul Martin shares a special Thanksgiving message from the road, reflecting on 54 days spent walking clinics, meeting owners and seeing firsthand the passion driving this profession. He challenges PT leaders to move beyond feeling grateful to leading with gratitude.

Most owners spend the holidays reacting. Paul wants you to use them strategically. In this post-PPS breakdown, he shares the biggest trends he saw on the exhibit floor and explains how they could shape your planning for 2026.

Reporting directly from the floor at PPS 2025, Paul highlights the key trends pointing toward the next M&A cycle, and why PT owners who prepare early will be best positioned to benefit.

PPS 2025 is your opportunity to turn three days of sessions and conversations into lasting business results. Paul outlines how to approach the conference strategically, connect with the right people, and bring back ideas that can drive real growth for your practice.

This week, Paul sits down with Health & Rehab Solutions CEO Blaine Stimac, as he recounts how his company scaled to 38 clinics across six states with a partnership model that keeps owners independent.

After 20 years, Elite Therapy Solutions is still gaining momentum. In this conversation, Paul Martin uncovers how founders Patrick Kinzeler and Paul Hecker built their success—and what’s next for their expanding team.

PPS is where the best in private practice go to get better. Paul Martin shares how to make the most of this year’s conference — and why the strategies revealed there will define growth in 2025 & 2026.

As Elliott Physical Therapy grew from one clinic to a thriving regional network, founders Daryl and Patti Elliott kept one principle front and center: never lose what matters. In this episode, Paul Martin explores the mindset and structure behind that kind of sustainable growth.

In this conversation, Paul Martin sits down with Mike Manzo to explore the mindset, strategies, and leadership development that turned early challenges into a long-term growth playbook.

In this week’s episode, Paul Martin and Josh Myers walk through the journey of a practice owner who shifted from overworked days to an optimized, thriving practice—creating options for her future she never thought possible.

“If you’re not growing, you’re dying.” That mindset drove Bret Fairbanks to scale Pacific Pro far beyond a single clinic.In this episode, Paul Martin interviews Brett about the lessons every PT owner can take from his journey.

One owner came to us with a question: “Why isn’t my clinic profitable when we’re so busy?”
In this episode, Paul Martin and Josh Meyers share the real client story — and the surprising place where profitability was hiding.

Paul Martin explains how our targeted assessments identify what’s holding rehab companies back — and how our clients are using these assessments to grow rapidly, unlock profitability, build stronger teams, and create better exit options.

Acquirers have more options than ever and are walking away from underperforming companies. In this episode, Paul Martin introduces ROI Consulting — our new approach to transforming rehab companies into growth leaders with lasting value.

ATI’s next moves could send ripples through the rehab M&A market. In this episode, Paul reveals what industry leaders should be watching for as the evolution of a key player in our industry continues.

What does ATI’s decision to go private signal for the rest of the industry? Paul Martin shares why this bold move could bring renewed competition—and new opportunity—for rehab owners eyeing growth or sale.

A quiet rule change just tipped the scales. Paul Martin unpacks what it means for PT owners—and why it might be the leverage you've been waiting for.

Chris Reading of USPh joins Paul to talk about what’s driving today’s M&A market, why some buyers are slowing down, and what sellers need to get right.

As capital tightens and deal dynamics shift, not all growth strategies are created equal. H2 Health’s Guy Sansone joins Paul Martin to describe their unique model, and what sellers should be doing now to stand out.

In this episode, Paul Martin explores a powerful strategy—one where the biggest financial wins happen after the sale. If you’re energized by what’s next—and not ready to walk away—this might be your moment.

This week, Paul challenges a common assumption: that more clinics automatically equals more value. Instead, he offers a framework for growth where optimization, not just expansion, drives long-term success.

John Gallucci returns to reflect with Paul Martin on what’s changed—and what hasn’t—in today’s M&A environment. Watch now to find out which changes are affecting clinic owners the most, and what you can do to stay ahead.

Bill Leitzel of Ivy Rehab joins Paul Martin to reflect on the current M&A landscape —
and what separates those who move from those who wait. Watch now to discover how to stay ahead of the curve.

In this episode, Paul Martin talks with Martin Healthcare Advisor's leaders of M&A, Tom Carden and Joe Anzur, about what rehab owners should be thinking about now—before the market moves on without them. 

Our series continues with Paul Martin talking with Richard Leaver, CEO of Alliance PT Partners, about turbulence in the current PT market. Richard offers practical advice for rehab owners navigating a complex 2025 landscape.

Our series continues with Paul Martin interviewing AJ McDeavitt, Vice President of Mergers and Acquisitions for Select Medical. AJ offers his seasoned perspective on where the market may be headed in these turbulent times.