The NEXTLEVEL Owner Podcast

When 6 Acquirers Say the Same Thing, You Should Pay Attention

Paul asks six acquirers which promise to sellers is unrealistic once a deal closes, and nearly all give the same answer: the claim that nothing will change after the transaction.

The Partnership Promise That Most Acquirers Can't Actually Keep

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.

Why Sellers Who've Done Their Homework Care Less About Valuation

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.

What Sellers Deserve to Know Before They Sign

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.

What Happens When Clinicians Do the Buying

Paul sits down with Steve Chenoweth, co-founder and CEO, and Brian Barth, Chief M&A Officer of Therapy Partner Solutions, to explore what sets a clinician-led acquirer apart. Steve and Brian break down why building infrastructure before acquisitions, not after, is what makes the difference.

Choosing the Right Partner Matters More Than the Price

In this conversation, Paul speaks with Bill Leitzel of Ivy Rehab about the cultural and structural factors that determine whether a partnership truly works.

The Five-Year Question Every Owner Should Ask

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.

Standing Still Is Losing Ground

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.

REPLAY: Revisiting How This Owner Built a 14-Clinic Practice From Scratch

Brett Fairbanks, co-founder of Pacific Pro PT and Sports Medicine, joins Paul to share the mindset that drove his growth and how his planning evolved as the practice expanded across Southern California.

Building a Practice That Holds Under Pressure

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.

What Buyers Notice First in Your HR Infrastructure

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.

Repeatable Success Isn't an Accident

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

How Thoughtful Growth Really Happens in Multi-Site PT Practices

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.

Why 2026 Could Be One of the Busiest Years for Rehab M&A

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

A Practical Review of the Rehab M&A Market in 2025

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

A Holiday Message from the Martin Healthcare Advisors Team

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.

The Role Innovation Plays In An Acquirer's Selection Process

This week, Paul continues our series on Innovation by speaking with Rob Pace, COO of Physical Rehabilitation Network. Rob discusses his perspective on choosing acquisitions based on the level of innovation, and what that looks like in a company.

Avoid Deal Delay With An Experienced Accounting Firm

Now that the Rehab M&A window of opportunity has reopened, you need to make sure you don't miss out due to deal delay. This week Paul explains how choosing the right accounting firm plays a crucial role in this process.

What the Latest CMS Signals Mean for Practice Owners

In this episode, Paul shares his perspective on a recent CMS update and why it's worth paying attention to.

Fed Announces Rate Cut for 2026

Paul walks through his perspective on the new rate cut announcement.

The Financial Clarity Every PT Owner Needs Before Scaling

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.

Leading With Gratitude in a Season That Demands It

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.

The Quietest 6 Weeks of the Year Could Be Your Competitive Advantage

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.

The Next M&A Wave: What PPS 2025 Is Signaling for PT Owners

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.