Co-ownership allows for 100% corporate owned practice in NJ to become co-owned by partner DVM

Every partner hospital is different, and so are we!
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 Veterinary Practice Partners was founded in 2011 with the mission of creating a “vet friendly” alternative to the corporate groups buying practices across the country. Hospitals like Tranquility Veterinary Clinic in Tranquility, NJ, and doctors like Ryan Christensen, were exactly what the organization had in mind. 

Veterinary Practice Partners provided Dr. Christensen a path to ownership, turning a once 100% corporate owned practice into a true partnership. Dr. Christensen now treats patients and provides local leadership while enjoying the benefits of ownership. VPP handles the business functions including finance & accounting, HR, recruiting, marketing, and operations. 

PRESERVING OWNERSHIP IN A CHANGING MARKET 

One of VPP’s Core Values is “Preserving Veterinary Ownership in a Changing Market”, and this partnership is a particularly strong example of a company staying true to its core values. When the owner of Tranquility Veterinary Clinic was ready to hang up his stethoscope in 2017, he turned to VPP to shepherd the practice to its next stage 

without him at the helm. As an associate DVM at the practice, Dr. Christensen had aspirations for ownership, but wasn’t quite ready to take the plunge when the practice initially sold. VPP recognized that Dr. Christensen had potential to be a strong partner, and moved forward buying 100% of the hospital, promoting Dr. Christensen to Medical Director, in hopes that he would be ready to own in the coming years. In November of 2019 with VPP’s help, Dr. Christensen’s goals came to fruition and he became an owner of Tranquility Veterinary Clinic. 

“I had always aspired to practice ownership, but in today’s landscape it’s becoming harder for associates like me to buy into privately owned practices and reap the rewards of ownership,” says Christensen. “When VPP bought Tranquility, they approached me with the option of buying at the time of the initial sale, but I wasn’t ready at the time to do so. Our talks continued. I gained valuable experience as a medical director, and when I was ready, VPP welcomed me with open arms.” 

“One of the things I’m most proud of is that VPP’s co-ownership model creates opportunities for associates to become owners,” says VPP’s founder Rich Lester. “To date, 27 of our 66 partners had never been owners before VPP became involved in the clinic. It’s been extremely rewarding to help our younger associates find a path to ownership that may have not been available to them without the help of VPP. These opportunities are more important to the veterinary community than ever as corporate ownership has accelerated.”  

ABOUT VETERINARY PRACTICE PARTNERS 

Veterinary Practice Partners (VPP) is a trusted business partner to veterinarians. We co-own practices in partnership with veterinarians, and work together to grow and manage each practice, while retaining its unique identity and culture. VPP’s family of 61 practices in 20 states has enjoyed industry-leading growth and profitability improvements. Currently, VPP has 66 partners, 28 of whom had never been owners before. 

Our team has deep experience in driving sustained, above-average revenue growth, cultivating exceptional practice staff, and overseeing back-office operations, including marketing, finance, accounting and human resources. Veterinarians partner with us because we enable them to focus on delivering high-quality patient care and foster lasting relationships with pet owners, while remaining owners in the practices they have committed a lifetime to building. 

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