VPN Plus+ ExclusiveKhuly sold to a corporation!September 5, 2024By Patty Khuly, VMD, MBAI’m still getting used to this strange bedfellow of ours. What’s more, I’m not quite sure what to make of the fact I can’t manage to despise it yet. Never in a million years would I have predicted the relative equanimity I’ve experienced throughout this process. After all, as anyone who has caught any part of my decades-long writing career can attest, I’ve carefully nurtured a poisonous aversion to corporate takeovers in veterinary medicine.
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VPN Plus+ ExclusiveAre you disappointed in your profession?November 23, 2023By Patty Khuly, VMD, MBAIt has finally happened. I’ve turned into that veterinarian: the crotchety, 30-year veteran of private practice so disillusioned by her own profession’s evolution she has begun actively planning a definitive exit strategy.
Veterinary practice trends webinar highlights further industry consolidationAugust 17, 2018In just five years, 25 percent of veterinary practices, accounting for half of all veterinary visits, will be corporately owned, according to Brakke Consulting. During a webinar presented at the end of June, "Hot Topics in Veterinary Practice," Brakke senior consultant John Volk said myriad variables were contributing to the trend: looming mass veterinarian retirement, fewer vets wanting to own practices, low interest rates and high interest for investors, and more. The webinar also discussed the largest veterinary consolidators; Banfield Pet Hospital and VCA lead the way with nearly 2,000 practices; National Veterinary Associates counts more than 400 clinics, and VetCor has more than 200. Something corporate outfits can offer that consumers want is the convenience of pet health plans, which allow pet owners to pay in regular installments, increase clinic visits and revenue, improve patient care, attract new clients, and build a bond between the practice and the client. To counteract corporate sales, Volk said associates should work with a current owner, partner with others, and focus on one- and two-doctor practices. Other sectors of the profession mimic the consolidation trend. The top five animal drug manufacturers, Bayer Animal Health, Boehringer Ingelheim, Elanco Animal Health, …
