The Cycle Podcast

The actual mechanics of an acquisition - the price, the structure, how it gets paid for - are almost never discussed publicly. In Part 2 of The Cycle, Joe Henderson breaks them open.He walks through how he built Sierra Health and Wellness to $250M in revenue without external capital and without own capital. Just acquiring distressed assets and turning them around.He gets into his first acquisition at $2.5M on a property appraised at $8M and the 3-year lease option that locked in the price; Structured founder buyouts as severance paid from the facility's own revenueIf you're a behavioral health operator who's ever wondered about acquisitions in the space, this is the episode.Chapters:0:00 – Intro and Precap1:32 – Original vision, motivation and building the operational muscle14:25 – Acquisition and investment playbook in Behavioral Health20:25 – Post-acquisition strategy and scaling up38:33 - Role of Technology and AI in Behavioral Health ——GUESTJoe Henderson — Founder & CEO, Sierra Health and WellnessLinkedIn: https://www.linkedin.com/in/joe-henderson-sierra-hwc/Sierra Health and Wellness: https://www.sierrahealthwellnesscenters.com/HOSTSamyukktha T (Sam) — Founder & CEO, Supahealth ——ABOUT THE CYCLE PODCASTThe Cycle is a new podcast featuring conversations with the operators, founders, and clinical leaders building behavioral health. We go deep on what it actually takes to build care that works: the mechanics, the decisions, the mistakes, and the bets that paid off.New episodes regularly. Subscribe at thecyclepodcast.com.FOLLOWWebsite: https://thecyclepodcast.comLinkedIn: https://www.linkedin.com/company/supahealth#BehavioralHealth #HealthcareFounder #PodcastInterview #TheCyclePodcast #Supahealth #AddictionTreatment #HealthcareEntrepreneur #SierraHealthSubscribe at thecyclepodcast.comProduced by Supahealth · heysupa.com

In 2015, Joe Henderson walked into a treatment facility with a friend who needed help. Two people were lying on the hallway floor with their bags, waiting for beds. Joe walked out and decided to build something better.A $10,000 credit card. His wife and newborn in his parents' guest room. $500 a month for himself. That's how Sierra Health and Wellness — today one of California's leading behavioral health networks, with seven facilities and approaching $250M in revenue — began.In Part 1, Joe walks us through the founding story: the moment that started everything, the principles he set from day one, the team he built, and the pivot that pushed him from the nonprofit world to founding Sierra. No PE. No VC. No shortcuts.-----Guest: Joe Henderson, Founder & CEO, Sierra Health and Wellness Host: Samyukktha T, Founder & CEO of Supahealth In this episode: • The Mark moment — the night Joe walked into a substandard treatment facility • The Elijah House Foundation, and the years before Sierra • "Good enough for my son" — the quality bar from day one • Starting on a $10,000 credit card, no outside capital • The pivot from nonprofit to for-profit • Building a team that believed before there was anything to showSubscribe at thecyclepodcast.comProduced by Supahealth · heysupa.com