Matt Holt

These are really the six core tenets that we're investing behind today.

So private capital, I would say private equity has some specific advantages with respect to supporting the acceleration of value creation.

Private companies, relative to publicly traded companies, are...

able to manage according to long-term timeframes.

And they're also often set up to enable the transformation of business process through the transformation of specific companies.

Those features of the private market's advantages position the private market and the private equity market in particular as an advantage framework to drive modernization of the U.S.

healthcare space.

So I would say with respect to driving transformation, control investors in the private equity markets can influence…

people and process in a way that unlocks value on an accelerated timeline.

With respect to where you play in the industry, there are different ownership models that are suited to different

Yeah, I would say if you look at the history of private equity interest and investment in healthcare, quote unquote, the majority of private equity capital investment over the past 20 years

has really been in and around owning the regulated entity, the provider of care, the owner of the license.

Over time now, what's happening is private equity is increasingly investing really in the efficiency and the systems, which is really where New Mount has been focused over the past 10 to 15 years.

That's partly why we've been able to avoid a lot of the

mistakes from a larger market standpoint.

And ultimately, I think the private markets and private equity markets are evolving to focus on this part of the market as well.

Yes, exactly.

Exactly.

Building the toolkit and bringing modernization technology, what I call modern business process, that may be standard in every other industry, bringing that into the healthcare industry, which has been largely a laggard with respect to the adoption of technology and, again, the adoption of modern business process.

I'd say over time, it really starts and ends with the quality of the team and ultimately the track record and the experience set of that team.