One of the advantages of a roll out vs a roll up which Alex (founder of PSQ) pointed out is the risk of acquiring a defective culture is significantly minimised.
Most of the time these single offices which the roll ups are acquiring are run by a dentist / the owner. Integrating his/her dental office into a DSO roll up brings risk in culture clashes. With a roll out, the culture is built from scratch not mashed together. Plus these single office dentists have been running their business for 10 to 20 years and will have their own way of doing things which might not work well in the DSO roll up.
With PSQ's roll out model, a dentist can move from one branch to another without any drop in productivity because every PSQ's branch is the same.
There is also no risk of one time write-downs from an acquisition which isn't performing which will hurt the NPAT.
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