2 Years to Buy, Double & Exit a Medical Billing Firm

October 24, 2024
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oday's guest was a whirlwind of activity during the Covid years.

Nik Hulewsky bought a medical billing company in June of 2020, anticipating (correctly) the impending demand for billing services.

Two short years and a tripling of EBITDA later, he sold that business for more than twice what he'd acquired it for — a life-changing exit.

And also during those two years, he started a hospice business, then acquired a home health bolt-on, and grew that combined business to $11m in revenue and exited it in June 2023.

Now, these are big dollar figures, especially for such short time frames.

But there were disappointments along the way, and I think you'll agree that Nik's tone is not one of victory, but humility.

So this is a story of one entrepreneur's rollercoaster through 2 healthcare niches that are popular among the searcher community: medical billing and home care/home health.

Listen closely if you've ever considered either of these, or healthcare broadly. We get philosophical about it at moments.

Also listen for Nik's advice at the end, where he goes against the grain. Teaser: "Life is long. Don't be in such a rush." Love that.

And if you want more Nik, check out his podcast Nikonomics.

OK, here is Nik Hulewsky, buyer and builder of a medical billing business and home health & hospice business.

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2 Years to Buy, Double & Exit a Medical Billing Firm

Nik Hulewsky bought a $3.2m medical billing company during peak Covid, anticipating a surge in demand. He was right.

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Key Takeaways

Introduction

Listen to the introduction from the host
T

oday's guest was a whirlwind of activity during the Covid years.

Nik Hulewsky bought a medical billing company in June of 2020, anticipating (correctly) the impending demand for billing services.

Two short years and a tripling of EBITDA later, he sold that business for more than twice what he'd acquired it for — a life-changing exit.

And also during those two years, he started a hospice business, then acquired a home health bolt-on, and grew that combined business to $11m in revenue and exited it in June 2023.

Now, these are big dollar figures, especially for such short time frames.

But there were disappointments along the way, and I think you'll agree that Nik's tone is not one of victory, but humility.

So this is a story of one entrepreneur's rollercoaster through 2 healthcare niches that are popular among the searcher community: medical billing and home care/home health.

Listen closely if you've ever considered either of these, or healthcare broadly. We get philosophical about it at moments.

Also listen for Nik's advice at the end, where he goes against the grain. Teaser: "Life is long. Don't be in such a rush." Love that.

And if you want more Nik, check out his podcast Nikonomics.

OK, here is Nik Hulewsky, buyer and builder of a medical billing business and home health & hospice business.

About

Nik Hulewsky

Nik Hulewsky

Show Notes

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Nik Hulewsky bought a $3.2m medical billing company during peak Covid, anticipating a surge in demand. He was right.

Topics in Nik’s interview:

  • Tragedy that ignited his passion for hospice
  • Losing his job while his wife was in labor
  • Searching for a business to fit his skillset
  • Industry is more important than business
  • Margins in home health
  • Calculating return on brain damage
  • Learning firsthand about the J curve
  • Importance of relationship with the seller
  • Being in business with his brother-in-law
  • Advice for young entrepreneurs

References and how to contact Nik:

Get a free review of your books & financial ops from System Six (a $500 value):

Get a complimentary IT audit of your target business:

Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:

Connect with Acquiring Minds:

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