Late-Career Owners - Veterinary Practice Partners

Dr. Kevin McGinn

Sangaree Animal Hospital
Partnered in September 2011

Late-Career Owners

Common Career Viewpoints

  • It would be nice to “slow down” a little bit day-to-day and give up some of the less desirable aspects of running the practice.
  • At this stage of life, having some certainty with respect to the ultimate sale of the practice would be comforting.
  • A key associate is interested in succeeding you as owner, but might ultimately have financial difficulties purchasing the practice.
  • You would still like to practice medicine for 2-5 more years.
  • Continuing as an owner while monetizing some of your ownership in the practice would be ideal.

Case Study

Read about Dr. McGinn, a late-career practice owner, and his decision to work with VPP.

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Benefits of Selling a Stake in Your Practice to VPP

  • Beginning on Day 1, VPP would assume responsibility for the business side of the practice and all of the headaches that go along with it. You remain in charge of the clinical side of the practice and can focus on fostering relationships with clients and their pets.
  • Since you are only selling a portion of the practice to VPP today, you get to “take some money off the table” now (making your financial advisor happy) and have a defined formula for a final sale in the future, when you are comfortable.
  • Even if your associate cannot afford to purchase the entire practice, they can participate and own a smaller, more affordable piece, today with a clear path to more ownership in the future.
  • It is in your best interest of the practice that you end day-to-day practice on your terms. With VPP as a partner, you decide when it’s time to hang up the stethoscope and hit the beach.