Introducing Vetnovo: A Fresh Approach to Veterinary Acquisitions

Sept. 1, 2023 - PRLog -- In a groundbreaking move, Vetnovo is introducing a revolutionary approach to veterinary practice acquisitions, shaking up the traditional model with an innovative focus on transparency, community engagement, and comprehensive support systems.

Historically, the veterinary practice acquisition process has been riddled with uncertainty for practice owners due to earn-out clauses that obscure the trajectory of their businesses post-acquisition. Vetnovo is poised to diverge from this standard by offering greater transparency in practice valuation and elevated multiples, all without any earn-out clauses.

A significant drawback of the traditional acquisition model is the perceived disjunction between corporate headquarters and the day-to-day operations of individual veterinary practices. Vetnovo addresses this concern head-on by assembling a dedicated core team of veterinary professionals who remain actively engaged in practice operations.

Vetnovo's innovation extends beyond veterinary expertise. The incorporation of professionals from diverse fields such as Marketing, HR, and Finance into their core framework aims to ensure that all aspects of practice ownership are managed by specialists in their respective areas. The strategic move solidifies collaboration between practice owners and the company itself, allowing veterinarians to focus on their primary expertise while business-related aspects are adeptly handled.

In a bold move, Vetnovo's strategy is adaptable to practices of varying sizes and geographic locations, valuing the unique potential each practice brings to the table. The company hopes this inclusivity underscores their commitment to expanding the acquisition landscape and dismantling traditional limitations that have long hindered such endeavours.

Preserving the identity and autonomy of practices is a central tenet of Vetnovo's philosophy. Diverging from the assimilation trend of traditional acquisitions, Vetnovo's model focuses on nurturing a partnership that both preserves a practice's distinctive character and enhances its valuation.

Highlighted by the current staffing shortage, Vetnovo offers an ingenious solution to address staffing gaps, ensuring access to a pool of skilled veterinarians ready to step in when practices require additional support.

Huw Stacey, Chief Medical Officer at Vetnovo and veterinary surgeon said:

"Vetnovo's innovative approach represents a paradigm shift in the veterinary market; our commitment to reshaping veterinary acquisitions is unwavering. We recognise the power and value of the practice team and their relationship with their client base. As such, we have a strong focus on preserving practice identity whilst driving growth by supporting and empowering the teams to deliver outstanding client service and clinical care. Vetnovo stands ready to lead the way in a new era of veterinary practice."