HOUSTON, April 15, 2015 /PRNewswire/ -- VitalPet, an aggregator of veterinarian practices that offers owners the most flexible partnership options in the industry, announces its nationwide expansion. Veterinarians today are aware that the landscape of their industry is changing. For practitioners who partnered with VitalPet, the changes are for the better. Currently a partner to 15 companion animal practices in Texas with over 250 team members, VitalPet has developed a successful model that creates groupings of hospitals on a regional basis to effectively leverage best practices, create community among veterinarians, and collectively access greater opportunity. VitalPet partners to operate and grow practices, allowing doctors to focus on the job that they love and avoid the management duties that overshadow the joy of practicing medicine. Whether owners are ready to retire or not, VitalPet is the key to greater opportunity which is now available to veterinary owners nationwide.
Veterinarians have historically had a bittersweet relationship with corporate buying platforms. Often, corporate buyers are viewed by practice owners as a necessary evil. However, it's been a different perspective and experience for the veterinary hospitals opting to join the VitalPet family of hospitals. VitalPet's partners benefit from partial ownership, freedom to practice, and profit-sharing without the hassle day-to-day management while achieving their personal and professional financial goals. Although an acquirer and operator of veterinarian hospitals in every true sense, VitalPet prides itself on being different from the "other guys" in the veterinarian buy-out industry.Through its regional grouping model, VitalPet's mission is to preserve the uniqueness and community-based aspects that make each hospital special and outstanding among local neighborhoods. In addition, it upholds the highest quality of medicine recognizing that pet parents need skilled expertise and state-of-the-art interventions to extend the lifetime of their life-long companion. Lastly, VitalPet recognized early-on the value and importance of creating a personal community and a strong regional professional network among its DVMs and former owners. As such, VitalPet introduced its first regional hospital grouping in the state of Texas five years ago - a successful model it is now applying nationwide.
By purchasing hospitals that are knitted together regionally, VitalPet creates instant knowledge sharing and ability to uphold doctor-driven medicine. Unique to the industry, VitalPet partners affect decisions on medical contracts and care standards, through participation in Bi-Annual Medical Board meetings. Veterinarian partners continue to practice, retain partial ownership, receive additional forms of income, and share in the upside of the future growth of a larger company. VitalPet offers a competitive benefits package to their team members, as well as providing support for marketing, human resources, and recruiting. Additionally, VitalPet has developed first-in-class accounting infrastructure, enabling ease of communication and integration between the hospital and Home Office support. VitalPet also knows that selling one's practice is a decision that comes from the heart.The regional neighborhood model speaks to those veterinarians making this heart-felt decision by creating a collaborative and team-oriented culture for all.
Several of VitalPet's partners echo their support for the organization's model.
"We needed a partner to help us reach our retirement goals in a few years, but wanted to ensure our legacy of a family environment would be preserved. I feel very comfortable with our new family." stated W.Resell DVM.
In addition, M. Zieben, DVM noted that, "Now we are practicing the high standard of care that we want to, and I no longer have to worry about the accounting that tended to take up my weekdays and weekends."
Letting go 100% can be hard to do, and frankly, may do a disservice to the hospital. We recognize that some owners may not be ready to sell the whole practice: As such, VitalPet offers veterinarian owners the option to retain partial ownership. As part of its national expansion, VitalPet continues to select key partners and offer the most flexible partnership options in the industry, including:
- Majority cash purchase, as is most common in the industry.
- Partial Ownership (i.e. Profit Sharing): VitalPet purchases a percentage of the practice while the owner continues to hold partial ownership. The owner enjoys all of the upside of the business' growth and reaps the rewards of belonging to a large group of likeminded veterinarians and practices.
- In select cases, a unique joint venture model catered to the specific needs of your business and allows you to maintain 100% ownership.
"VitalPet is the most unique veterinary business in the industry. We are led by a strong executive team with over 60 years of combined leadership experience in the veterinary industry. Our doctor driven medicine, family culture, and scalability makes working with our hospitals and sharing best practices easier than ever. Before selling your practice or joining another group, you should learn more about VitalPet as we now expand across the nation." Benjamin Thomas, President and Founder
If you would like to explore partnering with VitalPet, please contact us to talk with about the rewards of partnering with VitalPet. To schedule a call with VitalPet, visit: www.vitalpet.com/partners_form or contact Michael Dietzenbach (Vice President of Partnerships) (720) 310-0174.