I question the DD of the company in establishing the EBITDA...

I question the DD of the company in establishing the EBITDA figures.

Seems like IPO was rushed and they were vetting 60 practices at once pre-IPO - with very minimal funds/staff. 

Like i have said previously the buy-up process sucked up only practices that otherwise would be difficult to sell. We've seen the issues that this can cause (think of the dental vans). The fact the company only had to put in 60% of funds (due to the equity partner scheme) is pretty indicative that these practices would ahve been hard to sell on the open market for cash. 

Something had to give - and it was the SP.