Greg Wappett
speaker
324 appearances
1 recordings
1 series
first heard Jun 2026
last heard 22 Jun
Greg Wappett’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 1 in all, peaking in Jun 2026 with 1.
Appearances
There is a component of financing there that is debt oriented.
Um, and you know, and any homeowner or you know, people that are have been homeowners before will kind of know this a little bit more, just to give a sense.
We basically have adjustable rate mortgages for our debt burdens.
And as those interest rates rise, so do our debt payments.
And as our debt payments rise, the cost of doing business rises, and our revenue probably took a either a hit or it stagnated.
due to our providers, which are this primary source of revenue declining, it led 42 North to really take a strong, quick pause of instead of spending our capital going out and to continue to grow recklessly, we realized that this was the right time to focus our initiatives and our thoughts internally, make sure that we're, you know, focusing on our efficiencies and how we're supporting our practices, making sure that we're providing them the tools to still
provide the appropriate care for our patients, how can we grow within the four walls of our practices is as opposed to just going out and trying to find way to find ways to finance more acquisitions.
So that was really what kind of led to the slowdown and pause, I would say, is the right terminology there.
And then up until recently, um, you know, after we spent a few years, you know, kind of looking in the mirror and self-reflecting and figuring
Fixing a lot of these issues and really bettering the organization.
We as a company got better.
We, we, you know, were able to kind of bootstrap ourselves, figure out better ways to do things.
You know, not adding, you know, 10, 12 practices a year gives your teams an opportunity to digest all of that growth and, you know, kind of do a little bit of uh you know self-reflection of what could we have done better?
How do we operate things better going forward?
And as we got to that point, we also
went through just recently a refinancing of that.
So going back to the mortgage concept, we were able to just in the last few months refinance our entire balance sheet, um, which included a significant re investment of additional capital for growth, which certainly corresponded with 42 North bringing me back on board um to help kind of restart the the acquisition initiatives because we're we're a healthy company.
Not that we were never a healthy cu healthy company, but we're you we're back being strong again.
We're growing both organically, we're ready to grow inorganically, and now we've got the balance sheet that's appropriately structured for today's environment.
And the the the hope is obviously, I think everyone kind of has this hope that interest rates aren't going to continue to rise much above where they are.
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