Today's Veterinary Business

AUG 2018

Today’s Veterinary Business provides information and resources designed to help veterinarians and office management improve the financial performance of their practices, allowing them to increase the level of patient care and client service.

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16 Today's Veterinary Business Business Business TRANSITION By Judy Gray Many veterinarians are confi- dent they will find a qualified buyer for their practice. They think a large corporation will be in the market to buy the hospital when they are ready to retire. Unfortunately, some discover when positioning their practice for sale that corporations might not be interested in acquir- ing a veterinary practice of the owner's size and location. Another reality is the dearth of veterinarians looking to purchase a practice, perhaps because of credit issues or an aversion to handling the business side. The truth is, lend- ers who focus on lending to veter- inarians realize that practitioners are excellent credit risks so long as the hospital has proven cash flow to pay the debt services. Practice assets can be pledged as collateral. Today's Veterinary Business in - terviewed these four veterinarians, who recently sold their practices: Deborah Friedman, DVM, DACVO Dr. Friedman sold Animal Eye Care, a specialty veterinary ophthalmol- ogy practice with two locations in the San Francisco Bay Area. At the time of the sale she was one of the two ophthalmologists working at the two locations. She sold both practices to another board-certi- fied veterinary ophthalmologist and her husband. Vedrana Gjivoje, DVM Dr. Gjivoje and her husband and business partner, James Baxter, DVM, sold Bernardsville Animal Hospital, a full-service practice located in Bernardsville, New Dr. Vedrana Gjivoje sold her New Jersey practice. Know when to fold 'em Ideally, you want to sell your practice for maximum profit, with minimal disruption and at a time that works best for you.

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