AddLife: Vision Ophthalmology Group Acquisition

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But who is it that they're cutting across and increasing the EBITDA? Was that Roland or that was someone from Stirling Square Capital that was paid? What has happened to Stirling Square since the acquisition by AddLife? Do you still have any knowledge of that? Or have you lost touch?

Essentially, the business that AddLife bought was an under-resourced, poorly invested group of distributors, where they'd lost all the senior talent. These distribution companies, the founders of those companies, that then were acquired by Stirling Square, they needed those people. This is something I fought with in the board meeting; at the board level, group level of the head of all these distribution companies, that company, their customer, was the suppliers. That table of people who had been involved in the businesses before they were acquired by Stirling Square, their customer was the supply chair. The local entities, their customers are the ophthalmologist or the surgeons, etc. Board level, it was our job to make sure the supply chain with old, existing and new technologies was secured.

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But who is it that they're cutting across and increasing the EBITDA? Was that Roland or that was someone from Stirling Square Capital that was paid? What has happened to Stirling Square since the acquisition by AddLife? Do you still have any knowledge of that? Or have you lost touch?

You need people at the top level that have contact to not only existing manufacturers, but emerging manufacturers; people with a great deal of experience that know which way the market is going to go, so you can be proactive when working with new technologies. You only have a lifespan with the best technologies of around three to five years because those technologies are going to be acquired by bigger companies. That's the game and that's the fun, because you make sure that those supply contracts have exit clauses in there where you get compensated. Exit clauses where you're not restricted to sell competing products, and you have a pipeline ready for when that product disappears for the next product to come in and it's probably better than the product you're losing because it's the next emerging technology.

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