In this episode, I sit down with Dan Davis, Managing Partner at the Thurston Group—a boutique private equity firm specializing in healthcare. Dan shares his interesting journey from Marine Corps infantry officer to finance leader and reveals how private equity can work for healthcare providers like us.

We get into the nuts and bolts of private equity - how it works, why it often beats traditional investing, and what makes healthcare such a resilient and lucrative sector.

Dan also addresses common myths about private equity and how his firm focuses on maintaining strong culture and clinical autonomy in its investments.

If you’ve ever felt overwhelmed by misinformation about private equity, this is your episode. Dan explains clearly how it works and why it should be the next step in your financial journey.

🎧 Ready to understand private equity like never before? Listen in.

Key Takeaways

Intro (00:00)

Introduction to Dan Davis and the topic of private equity (00:34)

Simple explanation of what private equity is (05:47)

Importance of preserving culture in private equity partnerships (07:54)

Private equity vs. traditional investing returns (12:05)

Internal rate of return and liquidity limitations (14:01)

Transparency through quarterly investor calls (16:42)

How Thurston scales companies from $1M to $30M EBITDA (20:05)

Mechanics of an exit and investor profit realization (27:55)

Current state of the private equity market (31:59)

Additional Resources

- Thurston Group – https://www.thurstongroup.com/

- Register for the OrthoPreneurs Summit 2025: http://opsummit2025.com/

- For more information, visit: https://orthopreneurs.com/

- Join our FREE Facebook group here: https://www.facebook.com/groups/OrthoPreneurs