Free Guide for Veterinarians

12 Questions to Ask Before Partnering with a Veterinary Group

A guide for veterinarians evaluating their next step in practice ownership — and the questions that separate true partnership from just another transaction.

Download the full PDF → Start the conversation
12-Page Guide 12 Questions to Ask Before Partnering with a Veterinary Group — cover
Introduction

A real partnership looks different from a transaction.

Selling a stake in your practice — or building toward ownership for the first time — is one of the most consequential decisions of a veterinary career. Not every group does this work the same way, and the differences become very real once a deal closes.

We put these 12 questions together to surface what actually matters: who controls the medicine, what your equity is really tied to, and what your practice will look like five and ten years from now. Use them as a checklist with any group you're considering — including ours.

Who is VPP?

Veterinary medicine, kept in the hands of veterinary professionals.

VPP was founded on the idea that veterinary medicine should stay in the hands of veterinary professionals. The hospitals in our network are co-owned with the doctors who lead them. The local brand stays. The team and culture stay. Clinical decisions stay with the doctors who built the practice. What we bring is the operational backbone behind the scenes — so doctors can focus on patient care and lead the direction of their hospital.

200+
Hospitals across 35 states
700+
Doctors in the network
3,600+
Team members
Factors to consider before joining a group Solo Ownership Corporate Group
Freedom to make business & clinical decisions✓✕✓
Centralized administrative support✕✓✓
Practice-level equity to drive long-term growth✓✕✓
Expanded access to services and tools✕✓✓
Mentorship and peer learning community✕✕✓
More time to pursue personal priorities✕✓✓
Shared financial responsibility✕✓✓

VPP's co-ownership model is purpose-built to combine the upside of solo ownership with the support of a group.

The 12 Questions

Ask any group you're considering. Including us.

Twelve questions worth asking out loud before signing anything. Here are the first two — get the full guide to see how VPP's model answers all 12.

01

In a partnership or sale, where does my equity actually sit — in my specific practice or in the parent company?

It depends on the group, and the difference matters more than most doctors realize. Most veterinary groups place equity at the parent-company level, where your stake is tied to the entire portfolio rather than the practice you operate. Some keep it in a joint-venture LLC at the hospital level but design liquidation to make it hard to access. A few offer put/call arrangements with defined terms. And some stop short of real ownership altogether, offering phantom equity — profit sharing without an actual stake.

The VPP AnswerIn VPP's model, doctors hold equity directly in their specific hospital, and monthly distributions are paid on that hospital's cash flow. VPP is also the only group that discounts equity for associates, making buy-in financially achievable.
02

What deal structures exist in the market beyond a 100% buyout?

The most common alternative to a full buyout is a joint venture, where the doctor retains a meaningful equity stake in the practice and the group holds the balance. Joint venture models exist across several veterinary groups, and on paper they share a similar shape. The differences show up in the underlying intent. In most JV structures, the long-term goal is for the parent group to reach 100% ownership over time — and associate buy-in programs tend to function as golden handcuffs rather than real paths to ownership.

The VPP AnswerVPP is the only true co-ownership model in the market. We invest in locally owned practices and help them stay locally owned in perpetuity, with no design to consolidate ownership upward.
What Comes Next?

A conversation, not a pitch.

Whether you're seriously exploring partnership or just starting to consider what's next for your practice, the best next step is a direct conversation with our team — and with VPP doctor partners who've made this decision themselves. We'll connect you with partners who took different paths: an owner who partnered, an associate who bought in, and a partner who built or acquired alongside the group.

Start the conversation → Download the PDF