How It Works - Northern Vet Partners

Our Ideal Partnership

Our ideal partnership at Northern Vet Partners revolves around practices that embody excellence in every aspect. We seek practices with a team of 2-3+ dedicated veterinarians supported by a stellar support team, showcasing a solid reputation within their community for exceptional veterinary care. Our perfect match is a practice owner who is passionate about their work but is ready to lighten the load of ownership responsibilities and alleviate stress. We value owners who still have the drive and energy to contribute significantly to the practice but are eager to collaborate with a partner like us to enhance operations and unlock new opportunities for growth and success. Together, we aim to create a harmonious partnership that not only preserves the practice’s legacy but also propels it toward a brighter and more sustainable future.

Our Transaction Structure

Our transaction structure at Northern Vet Partners is designed for clarity, fairness, and mutual benefit. Once both parties—us and the practice—determine that a partnership aligns with our goals and values, we swiftly prepare an offer. Typically, we look to acquire anywhere from 60% to 100% of the business, tailoring the acquisition to suit the needs and preferences of the practice owner. Once terms are agreed upon, we move efficiently to engage legal professionals to formalize the partnership. It’s important to note that even in a partnership scenario, the practice owner retains a significant portion of ownership and entitlement to the profits. Our collaborative approach aims to enhance the value of their ownership stake over time, ensuring a prosperous and fulfilling transition when they’re ready to fully exit ownership.

Your Team

At Northern Vet Partners, we deeply value the teams that practice owners have carefully assembled. We understand the crucial role that each team member plays in the success of a veterinary practice, and we’re eager to support and empower them. Unlike traditional management approaches that view labor as a mere expense to be minimized, we see our team members as invaluable assets whose growth directly contributes to our collective success. We recognize the challenges faced by veterinary professionals, including burnout and high turnover exacerbated by comparatively lower pay scales. That’s why we’re committed to doing our part in supporting better wages, comprehensive benefits, and assisting team members in setting the groundwork for their retirement planning. Together, we strive to create a work environment where every team member feels valued, respected, and motivated to excel.

Employee Stock Ownership Plan:

As we continue to expand our network, Northern Vet Partners is committed to implementing an Employee Stock Ownership Plan (ESOP) or some form of profit-sharing for all team members. ESOPs and employee-owned companies offer numerous advantages for both employees and the organization. By providing equity ownership to our veterinary staff, they become personally invested in the success and growth of our network. This heightened level of ownership has been shown to increase employee engagement, motivation, and retention, as team members feel a direct stake in the company’s achievements.

Furthermore, ESOPs help align the interests of employees with those of the company, leading to enhanced performance, productivity, and profitability. Employee-owned companies also tend to exhibit greater stability and resilience over time, as employees adopt a long-term perspective and are less inclined toward short-term thinking or detrimental behaviors. Additionally, fostering an environment of shared ownership cultivates a stronger sense of community, culture, and teamwork, fostering a more positive and productive work atmosphere at Northern Vet Partners.

Additional ways that we can help:

ACCOUNTING

HUMAN RESOURCES

RECRUITING

INFORMATION TECHNOLOGY (IT)

MARKETING

EMPLOYEE STOCK OPTION PLANS