The Physio Matters Podcast Buying And Selling MSK Clinics - Chewing It Over with Joshua Catlett
In this episode of Chewing It Over, Jack is joined by Joshua Catlett, former physio, founder of Bodyset, and now founder of Verilo, to unpack the realities of buying and selling MSK clinics—and why it’s far more complex than most owners expect.
Joshua explains that for many clinic owners, a sale is a once-in-a-lifetime event with huge consequences: get it right and it can be life-changing; get it wrong and you can lose money, damage reputation, or sell to the wrong buyer.
A key theme is preparation and timing. Joshua warns against selling out of necessity (lease pressure, staff loss, burnout), and encourages owners to plan ahead so they can sell from a position of strength. He also challenges a common assumption: the “natural” exit via associate buyout is often more myth than reality, with fewer clinicians wanting (or able) to buy practices today due to funding constraints and higher borrowing costs .
The conversation highlights why some practices aren’t truly “saleable”—often because they’re essentially a job: highly owner-dependent revenue, home-based setups, or limited transferable infrastructure. Joshua outlines the main levers that increase valuation and buyer confidence: reducing owner dependency by building a team, securing strong premises and lease terms (ideally 5+ years remaining), and lowering risk for the buyer .
They also discuss the brokerage landscape, contrasting passive “listing” brokers with high-end corporate finance, and positioning Verillo in the middle: structured, strategic, and specialist. The episode closes with practical advice: prepare early, stabilise key risks, and get the right representation—because structured sales processes tend to achieve higher prices and higher completion rates