84 → 142 locations. CAC down 75%. Multiple lifted from 8.4× to 12.1× at exit.

NARRATIVE

T he group came to us at 84 locations and stalled. Their hub site was outranking 71% of their own locations on the queries that mattered. The front desk was leaking $4.2M a year in qualified calls — measured, not estimated.

We spent six weeks inside their ops. We rebuilt the location template, instrumented intake to the call rather than the form, and mapped paid pressure to local demand curves market by market. We didn't change their brand. We didn't have to.

By month 12, blended CAC was under $90 for the first time in their history. By month 24, the banker was engaged.

MARGIN NOTE — CEO, AT EXIT

"They moved like a clinical team. Showed up. Took readings. Made decisions. Left when the system stood on its own."

VITALS — INTAKE vs DISCHARGE

MEASURE	DAY 0	DAY 945	Δ
Locations	84	142	+69%
New patients / loc / mo	142	484	+241%
CAC, blended	$284	$71	−75%
Site → consult	0.8%	3.4%	+325%
Show rate, front-desk	61%	88%	+44%
Pod-to-pod variance	7.1×	1.4×	−80%
EBITDA multiple, modeled	8.4×	12.1×	+44%

Patient retained Admen on quarterly review post-exit. Two follow-up engagements with sister portfolio companies referred since.

FILED BY

Admen '25

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