As reported by http://www.farmersjournal.ie the tough working conditions, burnout and hard earned income is pushing veterinary practitioners to the brink.
The 2018 Veterinary Practice Survey Report, conducted by HLB Sheehan Quinn, showed that almost half of vets said they would be willing to sell their practice to a corporation, with exhaustion cited as reason for wanting to sell.
The Veterinary Sector has seen a significant increase in the market share of large operators like Independent Vetcare (IVC) and CVS Group Ltd. The growth of these Corporate operators has been aided by aggressive acquisition strategies by both companies in Ireland and the UK. Struggling practitioners in a lot of cases simply cannot risk turning down the offers tabled.
WDA have been providing accounting and advisory services to Veterinary Practices for a number of years and have built up significant expertise in the sector. If you are currently considering an offer or would like to establish a valuation for your practice please get in touch and we will be able to talk you through your options.