Acquisitions Anonymous - #1 for business buying, selling and operating - How to Find Hidden Specialty Pharmacy Deals – Broker Secrets Explained

Episode Date: December 6, 2025

In this episode the hosts dig into a $7.1 M cash‑price listing for a specialty pharmacy in Beverly Hills — evaluating its 1.49 M EBITDA, market position and regulatory complexity to see whether it’s a viable acquisition.Business Listing – https://www.bizbuysell.com/business-opportunity/specialty-medical-pharmacy-in-prime-southern-california-location/2445305/Welcome to Acquisitions Anonymous – the #1 podcast for small business M&A. Every week, we break down businesses for sale and talk about buying, operating, and growing them.💰 Sponsored by:Tonnesen Accounting Services - Tonnesen provides full quality of earnings reports trusted by buyers, lenders, and brokers on over $500 million in deals each year. Fast, detailed, and affordable. Visit tonnesenaccountingservices.com or connect with Josh Tonnesen on LinkedIn for a free consult.Capital Pad – A platform connecting accredited investors with vetted small business acquisition deals. Discover exclusive opportunities at https://capitalpad.comThis episode of Acquisitions Anonymous breaks down a real‑world potential buy of a specialty (medical) pharmacy based in Beverly Hills, California. The listing claims a 2025 expected revenue of about $6.2 M with $1.49 M in EBITDA/SDE, monthly rent around $9,167, and an asking price of $7.1 M — roughly 4.75× trailing earnings. The sellers are motivated by acute health issues and retirement, which introduces urgency. The hosts explore both the upside — a long‑established business in a wealthy market, high margins, and niche specialty‑pharmacy demand — and the downsides: regulatory/licensure hurdles, dependence on skilled pharmacists, insurance/payer access challenges, and the uncertainty of consistency in earnings.Key Highlights:- Asking price: $7.1 M cash, with stated EBITDA/SDE of $1.49 M → ~4.75× multiple.- Business profile: Long‑established (since ~1980), located in affluent Beverly Hills, servicing specialty prescriptions (potentially high‑cost biologics, pain, immunology, chemo) rather than typical retail offerings. - Opportunity: High margins (claimed ~25%) — above what might be expected for a typical low‑margin compounding pharmacy. - Risks: Regulatory/licensure risk under the California pharmacy law: any change in ownership or control requires approval by the board before the transaction can close. - Execution risk: Because the seller is reportedly ill and likely a “forced seller,” there may be pressure to close quickly — which compresses time for due diligence on payer contracts, referral sources, license transfers, and underlying quality-of-earnings.  Subscribe to weekly our Newsletter and get curated deals in your inboxAdvertise with us by clicking here Do you love Acquanon and want to see our smiling faces? Subscribe to our Youtube channel. Do you enjoy our content? Rate our show! Follow us on Twitter @acquanon Learnings about small business acquisitions and operations. For inquiries or suggestions, email us at [e-mail]

Hello, ladies and gentlemen, boys and girls, and welcome back to Acquisitions Anonymous. This is the Internet's number one podcast on buying, selling, and operating small businesses. I am Bill Alessandro. I'm one of your hosts, and I am here today with Mills Snell and Heather Anderson, and we have a really cool business today. It is a specialty pharmacy in Beverly Hills, California. He's got $1.5 million of EBITDA. We think it has about double the typical EBITDA margins of your standard specialty pharmacy.

and the seller has cancer, sadly, and is a forced sale. So a very interesting situation, especially if you are into pharmacies in California. So without further ado, I hope you guys enjoy this episode of Acquisitions Anonymous. Hello, another episode of Acquisitions Anonymous. We don't have 100% beers anymore. And thumbs downing on just the plus inventory. Hey, Michael here. This episode is brought to you by Toninson Accounting Services, the leading provider of quality of earnings reports for small and mid-sized business deals. Every year, their team reviews over $500 million in transactions, and the reports are trusted by buyers,

bankers, sellers, and brokers nationwide. What sets Toninson accounting services apart is premium quality work at an unmatched price, a full quality of earnings report for just $6,000. You'll get more depth and insight than firms who charge twice as much, which is why so many dealmakers turn to Tonincent accounting services when accuracy and speed matter the most. There's a link to Tonincent Accounting Services.com in the show notes or reach out to Josh Toninson on LinkedIn for a free consultation where he'll walk you through the process step by step and answer any questions that you have. Tell them that Acquisitions Anonymous sent you. All right. Acquisitions Anonymous afternoon edition, aka Heather's midday, but Mills and I are 5 p.m. here at the end.

I should have made a cup of coffee at this point. That's right. Yeah, we're coffee on one end and Heather's coffee on Fridays when we record 7am, her time. Well, Mills was just telling us that he nearly lost his middle finger in an industrial accident at an oyster roast. A lady at the grocery store was like, you must have used your finger one too many times. So Mills, if you're on video, I don't know if it still is, but Mills has a permanent middle finger. His middle finger on his left hand is permanently upturned while he's. So don't take it personally. So don't take it personally.

So we do have a deal today, which Heather brought us, and it is in the great state of California. Of course, the great state. We're all great deals go. And I'm sure we don't all agree on that part, the great state. I was going to say we're all great deals go to die, but I was going to join me nice. That too. That's a lot of big businesses built in California, including how there is Vizzo Capital. If you need an SBA loan, call her.

That's right. So specialty medical pharmacy in prime Southern California location, Beverly Hills, California. You all know where that is. asking price 7.1 million cash flow SDE a million 490 gross revenue 6 million 209 EBITDA is a million 490 I guess they say EBITDA and SDE is the same here rent is $9,167 a month and it was established in 1980 so this is only 4.75 times EBITDA yep there you go only listing of its kind in the state of California Revenue 2025 expected is, so that's the, they expected for 25, 6 million 209, EBITDA expected,

$1,4.7, multiple. The broker's actually telling us that specialty pharmacy comps from one to $10 million in sales are usually five and a half to 15 and a half times earnings. That's what the broker's saying. I don't know that that's a heck of a range, five and a half to 15 and a half times. I don't know where he got that, but that is what he's telling us. The current U.S. specialty pharmacy market is $129 billion, expected to increase 700% to $1 trillion in five years. Current estimate only 25, this person does not want to use a lot of extra words here.

So current estimate, only 2,500 specialty pharmacy business units in America. Ask yourself, who is going to fill the 700% increase in demand? That part made you know. Jonathan, you're nail. Prime Southern California location within reach of 50 plus hospitals, rheumatology, immunization, and pain management, total value-added physician services with patient insurance, coupons, and same-day high-dollar specialty prescriptions. Immunization, all formats of compounds included children. Again, I'm not sure how this was written. seller wishes to stay as consultant to grow the specialty business and reenter cancer chemo. That's, let's see, $100,000 of inventory is included in the asking price.

The real estate is leased. Furniture fixtures and equipment is only $45,000. That's included. And the reason for selling, oh, that explains the prior comment. The reason for selling is acute health issues and retirement. So when they say reenter cancer chemo, it sounds like that's what that meant. It was not reenter that business line. That's the way I read it.

That's what I thought too. Right. But then we see that it sounds like the seller has a imminent health problem. And that is the reason that this business is being listed. So what do you guys think? The first thing I went to is I clicked on Jonathan's listings and the business broker. Yeah, the business broker. And I don't like it as a signal.

when this is the biggest deal he has by far. And I don't know if you guys have ever run into this before, but I want the business broker to be like right in their sweet spot. It's right up there at the top bill under his picture. It says for sale. But he's got this one at 7.1. He has a truck stop for $2 million, a LA fashion brand for a million 95 and then a bunch of like sub $500,000 listings.

So I think, you know, the listing is telling on itself a little bit also in terms of the way he's presenting it in some of the language and the really, really wide range and those kind of things. But I always just am curious, like, what else does this person sell and what have they sold? And this doesn't necessarily help the case, I don't think. I agree with that assessment. Like, you want a broker who's right in the middle of their strike. So in that being said, we may be catching this guy on a bad day because he's got, says he's got 45 years experienced, a 25-year Wall Street veteran and senior vice president of several Wall Street firms,

including investment banking, having successfully purchased, built, prepared for sale, and sold five companies. with a capitalization totaling over 100 million. You're right. Yes. So, that helps. I like to sound like. So that's positive. So this deal started in, it's founded in 1980.

It's got 1.5 million of EBITDA and the founder is selling for acute health reasons. At the high level, already I'm interested, right? A business has been around for a long time. It's big, it's big enough, not like super chunky, but it's 1.5 million of EBDA. and a force seller. And when I say forseller, it's not so much that you're trying to get it, you know,

rip the guy off. It's more like you, you're less worried that he knows something you don't and is trying to sell you a bag of goods or a business that's, its best days are behind it, right? So just right off the top, like I kind of like the setup.

What is a specialty pharmacy versus a pharmacy? I think it's compounding pharmacy. That's the word that I'm more familiar with. and that's what I usually think of when I hear specialty. It usually means that they are preparing, you know, custom compounds rather than buying the, you know, pills and vials and whatever they come, like, from the manufacturers. They are actually putting together custom, you know, I don't know, the formulations, you know, that are specialized, right? that the masses don't necessarily need that particular setup, but you have to go to a compounding pharmacy to get something very specific. And so if you look around even like in my town, there's a couple of them in town.

They call them, they say compounding pharmacy and they'll usually have, you know, special net, like they say, they talk about it here, a network with certain physicians where they're sort of the go-to for certain compounds, you know, to be put together. And it's, you know, I believe it's a lot more skilled pharmacist that's required for something like this because they are actually formulating the prescription that's going out. You know, they're, and I'm sure they're doing some quality testing and things like that. And I think one of the problems or the challenges with the pharmacy industry, I believe there is a shortage, like a lot of things, there's a shortage of pharmacists. And that's what I've, you know, come to know in looking at a few pharmacy deals that, there is kind of a known shortage of pharmacists. So this is kind of an interesting challenge here. If you're not a pharmacist and you want to own something like this,

I think that that's not the easiest thing in the world to do, to even get financing, to maybe get licensed correctly. And that may be why the multiple can be a little bit lower here because you really need a specific background for this in many cases. We've talked about this in other industries about consolidation. But if there is any industry that has just run amok with consolidation, it is pharmacies. And the 800-pound gorillas are Walgreens and CVS. And they have consolidated the hell out of this.

Yeah. So I've been doing some Googling and chat GPTing and, you know, learn a little bit about this industry. So the key things for this industry are where do your prescriptions come from, your referral sources? And are those kind of contractual? durable and, you know, the customers are still going to come in. And then the other question is, who is paying at how much? Like, what is the content of the prescriptions? Like, is this kind of low margin? The compounding stuff is apparently not great margin. The high margin stuff is like the specialty drugs, the pain management, the recurring, the biologics, like all kind of like the

more cutting edge stuff, which apparently it is pretty hard to get payer access to. And a lot of these smaller pharmacies. If they get a script for one of these biologics, they often have to refer it out because the insurance, they're not an approved vendor for the insurance companies or for whoever the payer is. So like apparently the pharmacy benefit networks are very, they're strict on if like who they're going to reimburse for certain drugs. So if this business is approved to dispense these high margin drugs and has durable access to a source of prescriptions and patients, a hospital or something that's contractual, this becomes a very good business. If they don't have access to high margin stuff, it's primarily like compounding and durable medical equipment, you know,

like lower margin. And maybe it doesn't have, you know, a contractual relationship with a hospital and then it's a much less good business. I also learned that, Typical margins in this industry are 10 to 15%. This business is showing almost 25% margin, which is potentially a clue that it is that they are doing some of the high margin business that is hard to get for an independent pharmacy. Yeah. Yeah, it is like that that's what I,

that's what kind of caught my eye is I think the margin sounds pretty good. Now, he's only giving us the expected 25 numbers. There's no historical, what did 24 look like? We don't know. So it would be nice to know. Is it just a high point that they're selling at? Or what did the prior year look like?

Yeah, I mean, yes, I generally worry about that if the guy didn't have cancer. Like, he'd probably just selling on whatever he's got right now, you know, which is, again, horrible for him. But as a business buyer, it gives you a little bit more confidence that you're not top-ticking it. And I think that these have remained. main mom and pop more than the kind of just regular run-in-the-mill pharmacies. I have a friend who sold a pretty large pharmacy business to, I think it was Caremark when he sold. And they, the niches in this industry are crazy. He ended up having like a huge, I think it was a like diabetes and insulin

business. And it was so lucrative that they shut down like a dozen retail pharmacies. Because they cannibalize the CVS business. They were like, look, we just want your, you know, your insulin because it's so profitable and we'll pay you off of the EBITDA that you had, which was incredibly high. I mean, it was over a $200 million transaction. And then we're going to shut down all your other pharmacies just to fold all those customers into our core business. I think even if these have remained independent while consolidation is going on, the hardest thing is, Heather, what you said, is the competition around pharmacists and the wages that Walgreens and CVS are willing to pay. I know I've heard from a friend of mine who's a pharmacist that they are, they will pay more than

anybody else. So it's really hard for the mom and pop to compete. And this may even be a more competitive subset to get into something so specific. Yeah. I would want to know if the seller is a pharmacist and if they have been in the business working. I tend to think, yes, because the illness. is forcing the sale. So, you know, that means they're probably working there, which means, you know, that SDE, EBITDA difference does start to matter now. Is, you know,

is the seller's salary in there or not? And what is it going to cost you to replace them? I did look once at a compounding pharmacy that was highly specialized. And it was, it required a lot of skill to prepare the compound that they prepared. It was a very reoccurring revenue patient stream. You know, these are, it was a, it was a medication that was, if you have this, this illness, you needed it for life. And there was only a few places regionally where you could get this, this compound. But it does depend, you know, who are, what does your patient base look like? How reoccurring is that? And then what is it really going to cost you to staff this properly? Because the, the risk in this kind of business is preparing.

the compounds wrong and, you know, the liability, right? So you can't cut corners on the skills that you need to run this business. And it's a highly regulated industry and a highly regulated labor pool. I think now the pharmacy programs are like, I think they're, we had a babysitter who she ended up doing, I think, like six years of undergrad in order to come out with a pharmacy degree. I think it's like a farm D is what they call it now. I may be wrong on that. name, but it's, it's staggering. Yeah. Yeah. And it's not an easy job. It's, you know, so that's why I think there's a shortage, you know, even though it pays well, it's still a high pressure, high stress kind of job. And you're working, you're working essentially retail and retail hours. Yeah. Yeah. Well, maybe,

but this is not a retail pharmacy. Yeah. This is a specialty pharmacy. Like, they probably, probably don't have walk-in or I mean, maybe to pick up, but like not, this isn't a CVS. I've had to get some like compounded stuff for my kids at different times. And it is it is kind of like you'll just go wherever you have to go. It's not like you go to the closest pharmacy like you would for your regular antibiotics or whatever. Right. And this is specialty. I mean, this is like, you know, your rheumatology medicine or, you know, pain management or, you know, I think this is potentially interesting. But I mean, can you buy it as a non-pharmacist?

I think that's the first question. That I don't know. I have no idea. And this is not like the type of thing where you're going to get certified as a pharmacist nights and weekends. It's like a real degree. Yeah. Yeah. I think this is one of the tougher ones. You could maybe use an MSO, medical service organization type structure. But I think lenders would, then you might cut yourself off if you're not a pharmacist from the debt pool. You know, a lot of lenders are going to have a hard time with that, even if you could make it legally work. So I think that is that is the number one challenge here. can you do it if you're not a pharmacist? Can you do it if you're not a pharmacist? Or can you bring a pharmacist in as a partner? You know, that's probably the way you do it if you're a business person and you want to do this deal. Yeah.

And do they, does the pharmacist need to be the majority or not? You know, every specialty has its own rules around that. And is that state by state? I think I'm pretty sure it is because I've looked into that in the past. I don't think it's a federal like nationwide thing. I think every state is a little bit different. Exactly. It's state by state.

So you're going to want a special attorney that's just going to help you with that part of the deal. Literally, that's a whole other legal fee on top of your regular attorney to work that part out for you and how it's all going to work. But if you're not a pharmacist, you probably need a pharmacist to be your partner. And yeah, maybe they have to be the majority partner. So if you're a pharmacist out there, here's your deal. Hey, everyone, it's Bill. And I want to tell you about maybe the most exciting sponsor we've had in a long time on the pod. It's called Capital Pad, and it is the thing that I wish existed when I started my journey of

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capitalpad.com and tell them that Acquisitions Anonymous sent you. So what's interesting is, remember it says the seller wishes to stay on as a consultant to grow the business and reenter chemo. Could you buy the majority from the seller? But then what happens if he dies of disaster? Yeah, right. You have to have a backup plan. Or like, how does the regulation treat that if you have a business, you know, like, kind of not your fault.

Your partner died who was a pharmacist. Yeah, well, they give you some kind of holdover period of, you know, 12 months or something. But again, I mean, the second key question is, do you have to be a pharmacist in California to own a pharmacy? Two, how many pharmacists are on staff here? This is surely not a sole, you know, owner, operas. and like he's doing all this work. I would be flabbergasted. So how many pharmacists are there? And is there one that you could partner with and say, hey, I want you to be the continuation of this from a licensure standpoint. You know, in the real estate market, you have like brokers. And then you have brokers in charge who

actually is who everybody hangs their shingle to. And they get paid, right, regardless of whether or not they work directly on that transaction. I wonder if it's maybe a similar phenomenon here. I mean, that is maybe the way it works. If you've got one or two long time employees and go, you guys want to become owners in this thing, like, and you work out a deal and they, you know, they earn it, maybe they earn into equity or something, but they're the licensure. And maybe you do it. Yeah. What do you guys think? So I think we've poked fun at this kind of thing before.

But whenever people talk about the tam, the total addressable market, that's totally irrelevant. Like, it doesn't matter how big the tam is. a single location specialty pharmacy. Right. Right. I do like the fact that he's saying it's growing. And I will say, I really, really like how affluent this market is. I don't, you know, I, I drove down Heather when I was in California back in October. I drove down Rodeo drive. There's no shortage of discretionary income. And not that not that pain management is a discretionary expense, but this isn't in like, you know, Salina, Kansas. This is the center of affluent. in the country in a lot of ways. And so I would think that you've got probably, and even like a different subset specialty to the specialty pharmacy being in that market. Yeah.

So your pay or risk might be a little bit less here because, yeah, some people have insurance, but some people are private pay, and you probably have a lot of patients who can afford it no matter what, and they're going to, yeah, it's not as big of an issue as it would be somewhere else.

I do like the idea of partnering with the existing pharmacists. But what I was going to say is whenever I see someone try to put a deal together with the employees, a lot of those deals fall apart. Even though they make so much sense on paper, they fall apart because these people that are employees, they don't want to own a business a lot of times. You know, it sounds good at first, and they say yes,

and then they get into it, and they realize, you know, that there's responsibility and financial duties that they're not used to, and a lot of employees just, they'll just back out. You know, they'll get kind of three quarters of the way through or halfway through the deal. And then they'll just say, no, I don't want to sign these papers. I don't understand what they all mean. And they won't do it. Yeah, it can be hard.

It gives you the ick, you would say. Yeah. Whenever I hear certain people trying to put deals together certain ways, I think, oh, I don't think that's going to end up working. Yeah, I could see that. I mean, there's a lot of very, like, binary hard yes, hard no things that you would be able to find out, I think, fairly quickly in due diligence on this. But, you know, if you're not a pharmacist and you want to buy this business and you have to be licensed as a pharmacist in California in order to own it,

like then that's what we're trying to solve for. But it may, it may just be very quickly put in the too hard pile. I mean, I also think, so this is something else I want to bring up, you know, you buy any business, you're going to have a quality of earnings report. you're going to bring in an outside expert who is a better accountant than you to look at the accounting of the business. If you're buying this business, I think you also are going to want an outside expert in the specialty pharmacy industry to come in and kind of issue you a report of some kind on, is this a good specialty pharmacy or a bad specialty pharmacy? Like how stable are the reimbursements for the categories that they're in? You know, help me audit their contracts. You know, you want somebody who's seen a bunch of specialty pharmacies to tell you this is a good one, this is a bad one.

Because there's a huge range of good ones or bad ones in specialty pharmacy, and it's technical what makes a good one or a bad one. You know, and the only clue we have here that this might be a good one is we think they might have above industry average margins. And the fact has been around for a long time. You know, those are two both very strong signals. You have a good business as opposed to a bad business, but we don't really know why. Yeah. Yep. But who's going to fill the 700% increase in demand?

Ask yourself that. Yeah. To use the person. If you're a pharmacist in Beverly Hills, this could be a slam dock. Yeah. Yeah. The problem is how many pharmacists are out there looking to buy a business. I have one right now.

And I actually just wrote down a little note to tell him about he's got a different deal that he should be closing on soon. But I'm going to, I'm going to show him this one. Smells like an add-on, Heather. Yep, exactly. Heather, I mean, is this financeable? Yeah, it is financial. More so is an ad on, maybe? Yeah, as an ad on, it is very financible.

So if someone's already got the legal structure and the pharmacist structure figured out, or they are a pharmacist, this is very probably easily financable because it is a good multiple. And it is probably a lot of reoccurring revenue in a space that is. you know, not recession, you know, sensitive. So, yeah, the very, very financeable. It's in a great location. But it just has to be the right buyer with the right structure, the legal ownership structure. Do you guys think that this actually sells for $7 million? Probably not. And this is the other thing I want to mention. The reason I, now, well, I mean, if it's a good business and one of the Consolidators gets whiff of it.

Heck yeah. And they're going to feel like they got a great deal at 4.75 times, right? If you're just, you know, a pharmacist or somebody part with a pharmacist, you've got a seller here who needs chemotherapy. You've got a little bit of a forced seller. And it's got to be kind of a quick deal because time is life for this guy. So your price is going to have to be part of your diligence a little bit, right? So, like, you're not going to have 120 days.

days to like get really smart on this thing. So you're going to have to price that in and kind of cannonball in and hold your nose a little bit. And that hurts value. Yeah. Maybe a seller note that you know, you know, one way or the other, the seller can get that additional value if the, if the earnings stay at the certain at this level for another year or two. But yeah, you're right. I think that's a good, good point. You've got to close quickly. Yeah, which hurts your price. Now, if you're a existing pharmacy and this is an add-on, you're going to get sharp on this business almost overnight because you're going to know it, and it's going to also have synergies and you're going to be able to pay a very full price,

you know, and feel like you got a great deal. And that really illustrates kind of the advantage that strategic acquires have over people trying to build a platform. You know, that first deal, you don't know what you don't know. And you got to take you way longer to close, and you don't have any synergies. And you got to kind of price, in some, oh, crap risk, you know, if there's something you forgot to diligence, et cetera. But if this is your fourth one of these, you know exactly what rocks to turn over and where the bodies are buried and exactly what you can pay, plus you have synergies. So that's, you know, what I would say is if you're buying a business, don't expect to smash

it out of the park on your first deal. You know, that's why it's hard to do the first deal. Buy a good one for the first deal. Stabilize it and learn your industry really well before you go doing add-ons. And eventually, after a couple add-ons, you'll be in the catbert seat. there's this interesting scrappiness that I think comes to bear with something like this. It reminds me I have this friend who lived in a small town and was a very high income person in this town. And he and his wife would go for walks and they walked past this house every day.

And he was like, I want that house. And he just went knocked on their door and was like, when you're ready to sell, I want to buy your house. And they're like, actually, we want to sell. We want you to buy our house. And then later on in life, he ended up building this amazing house. And he got terminally ill and he ended up passing away. but he was like, nobody's going to be able to buy my house in this town. Like, there's probably two people who can afford it.

So he just called both of those people and was like, I'm dying. One of you needs to buy my house. And one of them did buy his house. But you could get like, you could get scrappy like that. Obviously, the seller probably doesn't have the time or energy or focus for that. But it's almost like there has got to be another specialty pharmacy around the corner or in the next zip code or something like that. Like those are the people I think you could go to as a broker in particular. and go, there's a situation, there's not blood in the water or anything, but this makes a lot of

sense for you and for my client. And that's what a good broker does. A good broker doesn't just put it on biz buy sell and answer the emails that come in. A good broker thinks about it and proactively goes out to strategic acquires, the most likely acquires. All right. So do we like it? Thumbs up or thumbs down?

I've never looked at one of these. I'm very thumbs up. This is really interesting. I like it. I think I'm thumbs up because I think there are a close. lose, this is a good specialty pharmacy, not a bad one. And I worry a little bit about the licensure thing. So a lot of diligence there. And I would need a third party industry report, or I need a industry report from somebody to do this deal. But I do like it.

Yeah, me too. Heather, wow. I'm making the loan. It's approved. Heather's making the loan and investing in the equity. I love it. Yeah. All right. Well, let's wrap this one up. If you like this, I lost count, but I think there's like 400 episodes on our website. We're like somewhere in the fours. Yeah, there's a lot of episodes. So if this is good, there's a lot more. If this is bad, you really should not go to ACQUAnon.com because there's a lot more where this came from on our website, acqueuan.com. You can also hop on our email list. We will email you all the new episodes or you can subscribe on Apple Podcast or Spotify or wherever you do that kind of thing. So thank you for.

for joining us. We will see you on the next episode of Acquisitions and Omnus.