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Adrian Nelson-Pratt runs The Veterinary Business Consultancy, which offers business development support, coaching, mentoring and leadership training to the profession.
We’ve learned a new language in the vet world – that of mergers and acquisitions. Corporate acquisition has proceeded apace in recent years and there are public limited companies, venture capital funds, private equity and privately owned businesses taking progressively larger stakes in the profession.
CVS, a leading acquirer, noted in its recent trading statement the challenges faced by large vet groups: attracting talent, employment costs, practice profitability and the cost of acquiring clinics. The stock market took a dim view on the trading update and the share price plunged more than 30 per cent last week.
CVS suggested that practice valuations sought by owners are now above levels that will deliver acceptable returns …
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