If you own a veterinary practice, the most active buyers today are corporate veterinary groups, many of them backed by private equity, that bring hospitals into a regional or national network. Groups owned by veterinarians are buying too, and so are other veterinarians: a nearby practice that wants to grow, an associate who wants to own, or a veterinarian buying a first practice.

What makes those buyers pay more is mostly predictable: a steady base of active clients and new clients coming in every month, a healthy mix of wellness, diagnostic, surgical and pharmacy revenue, associate veterinarians and technicians who are staying, and a practice that does not depend entirely on the owner’s own appointments.

The short version

  • Who buys: corporate veterinary groups and the private equity behind many of them, groups owned by veterinarians, nearby practices and regional groups, associates and individual veterinarians.
  • What they pay more for: active clients and new-client flow, revenue mix, associates and technicians who stay, low dependence on the owner, the facility and lease, equipment, and clean financials.
  • How corporate deals usually work: sellers are usually asked to keep practicing for a period, and part of the price can come as equity, a note or an earnout rather than cash. In some states only veterinarians can own the practice itself.
  • How to get the best result: put the practice in front of several of those buyers at once, confidentially, instead of taking the first offer that arrives.

Who has been buying veterinary practices

The deals below come from public announcements. None of them is a Hello Exit transaction, and naming a buyer here does not mean it works with Hello Exit or is looking for any particular practice.

Corporate groups and the private equity behind them

National and regional groups buy practices one at a time and add them to a shared support platform, and the groups themselves change hands:

Groups owned by veterinarians, and partnership models

Not every buyer takes the whole practice. In February 2026, VetEvolve formed its first joint venture with Gentle Care Animal Hospital in Forest, Virginia, its 51st practice. The hospital kept its name and the founder stayed involved, and VetEvolve describes the model as built for owners who want both liquidity and a share of the practice’s future growth.

Veterinarians can be buyers too. In May 2025, six specialists at Metropolitan Animal Specialty Hospital in Los Angeles became its owners, buying it from Ethos Veterinary Health with Curo Pet Care, a family-owned veterinary group, providing management support, and keeping the hospital open after a planned closure.

Nearby practices and regional groups

A practice down the road, or a group in your region, may want your clients, your location or your team. These buyers often know your market well and can move clients into their own schedule.

Associates and individual veterinarians

An associate who already works in the practice, or a veterinarian buying a first practice, is often the buyer for a smaller practice. They usually finance the purchase with a loan, and the transition tends to be the easiest on clients because the new owner may already know them.

How a sale to a corporate group usually works

You will probably keep practicing for a while

Clients and staff are loyal to the veterinarians they know, so corporate buyers usually want the seller to stay. AAHA’s Trends magazine notes that most contracts require the selling veterinarian to stay on for a minimum of two to three years. The employment agreement you sign at closing deserves as much attention as the price: your schedule, pay, duties and what happens if you leave early.

Not all of the price is cash at closing

Today’s Veterinary Business describes corporate offers as a mix of cash, equity stakes, promissory notes and earnouts, and notes that equity comes with terms on when and how you can cash out. Groups backed by private equity can also change hands. WellHaven, for example, had been backed by Martis Capital before GoodVets bought it. If you keep equity, ask what a future sale of the group would mean for you.

Ownership rules vary by state

Some states limit who can own a veterinary practice. New York’s education law, for example, allows only professional service corporations to practice veterinary medicine. Where rules like this apply, a law firm summary explains, an investor may buy only the nonclinical assets through a management company while a veterinarian keeps ownership of the practice.

The rules differ from state to state and have been changing, so your own attorney and your state veterinary board are the authority for your practice. This page is general information, not legal or tax advice.

What veterinary practice buyers pay more for

Every buyer looks at revenue and earnings first. After that, these are the things that most often move what a buyer will pay and how much of the price comes at closing.

Active clients and new-client flow

Buyers want to see how many clients are active, how many new clients come in each month, and where they come from. A practice that keeps attracting new clients without relying on the owner’s personal network is easier to grow.

Revenue mix

Buyers look at how revenue splits across wellness and preventive care, diagnostics, surgery, dentistry and pharmacy, and how much comes back on a schedule through reminders and wellness plans. Know your mix and your pricing, because it shapes both price and which buyers fit.

Associates and technicians who stay

Veterinarians and credentialed technicians are hard to replace, so a team that is staying is worth a lot. Buyers ask whether your associates and technicians are staying, how they are paid, and whether any of them have agreements that would survive a sale.

How much the practice depends on you

If most of the production is your own appointments and surgeries, a buyer will ask what happens when you step back. That is a major reason corporate buyers ask the seller to keep practicing. The more your associates already carry, the more options you have.

Facility, lease and equipment

A long lease that can be assigned to a buyer, or real estate you own and can sell or lease to them, well maintained equipment, current imaging and lab equipment, and practice management software with clean records make a practice easier to take over. A short or unassignable lease can stall a deal.

Clean financials

Buyers will ask for several years of financial statements, revenue by doctor and service, and the add-backs that show what the practice really earns. Numbers that match from one report to the next build confidence quickly.

Why it pays to have several buyers at the table

The same practice can look very different to different buyers. A national group entering your region may value your location and team. A partnership group may value your clinical culture and your wish to stay involved. A nearby practice may value your client base most of all. When you talk to only one of them, you only learn what that one will pay and on what terms.

Putting the practice in front of several qualified buyers at once, confidentially, tests price and structure against each other, including how much comes as cash at closing and how much as equity or later payments. Buyers learn who you are only after signing an NDA, so staff and clients do not find out early.

Hello Exit is a sell-side M&A advisor for founders selling businesses from $1 million to $400 million, and it is the team behind 1,000+ acquisitions and exits. Every engagement starts from accurate information. Hello Exit’s Exit Report is an advisory estimate that shows the strategic case, where strategic buyers exist, and the financial case side by side, along with an honest read on readiness. If the practice is not ready to sell, Hello Exit says so and helps you get there first.

See how the process works, from the first confidential call to closing, what Hello Exit does, and what M&A advisors charge.

Size matters too. Below roughly $1 million in value, a veterinary practice broker or transition specialist is usually the practical route. Above $400 million, an investment bank is usually the better fit.

Before you talk to buyers

Common questions

Who buys veterinary practices?

Corporate veterinary groups, many backed by private equity, groups owned by veterinarians and partnership models, nearby practices and regional groups, associates and individual veterinarians. Which of them fits depends on your size, your location, your services and how long you want to keep practicing.

Will I have to keep practicing after I sell to a corporate group?

Usually, yes. Most corporate buyers ask the selling veterinarian to stay for a period, often several years, so clients and staff move smoothly to the new owner. The more of the work your associates already carry, the shorter and lighter that commitment tends to be.

Can a corporate group own my veterinary practice?

It depends on the state. Some, including New York, limit who can own the practice itself, and investors there use a management company arrangement instead. Check with your own attorney.

Is my practice big enough for an M&A advisor?

Hello Exit works with businesses from $1 million to $400 million in value. Below roughly $1 million, a veterinary practice broker or transition specialist is usually the better route.