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INNOVETIVE PETCARE ACQUIRES THE CAHABA VALLEY ANIMAL CLINIC

Innovetive Petcare, a Texas-based company that owns and operates veterinary practices throughout the U.S., today announced it acquired the veterinary management assets of Cahaba Valley Animal Clinic (CVAC). “I am thrilled to welcome the Cahaba Valley Animal Clinic to the Innovetive Petcare family. Together, we can continue their legacy of excellence while offering additional resources for the veterinary team and for growth,” said Innovetive Petcare CEO Mark Ziller. Cahaba Valley Animal Clinic has provided veterinary care from their location in the Greystone area of Birmingham, Alabama since 1990. The practice is known for their exceptional level of care, state-of-the-art equipment, and integrity, exceeding client’s expectations in a comfortable environment. Four veterinarians, Dr. Mark Miller, Dr. Tony Wright, Dr. Barrett Mann, and Dr. Kristyn Carr, all Auburn University graduates, provide leading-edge medical and surgical care to small pets of all manner. Their full-service practice is recognized for its treatment of dogs, cats, rabbits, pockets pets, reptiles, and birds and use of technology for comprehensive healthcare. CVAC’s Dr. Mark Miller says, “We strive to exceed our clients’ expectations by providing leading-edge health care for their pets as well as exceptional customer service. Being a part of Innovetive Petcare is a natural fit for our practice as we continue grow. We will be able to take advantage of resources and support they provide, enabling us to continue our focus of practicing compassionate, high-quality veterinary medicine.” This acquisition furthers Innovetive’s regional position in the southeast, an area where it already operates three leading emergency and specialty hospitals.  Innovetive Petcare seeks to acquire other general and referral veterinary practices as it continues to build the nation’s premier family of veterinary hospitals.

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Animal Emergency & Specialty Care Opens New Chattanooga Veterinary Hospital

The Animal Emergency & Specialty Hospital of Chattanooga moved to a new location at 6393 Lee Highway in Chattanooga on April 25, 2016. East Tennessee’s premier veterinary emergency & specialty hospital now operates out of a customized facility allowing easy access for clients, increased opportunities for collaboration among the veterinarians, and new medical equipment. Founded as an emergency hospital and now seeing referred patients in the specialties of emergency and critical care, surgery, oncology, dermatology, and avian and exotics, the veterinary team is led by Medical Director DeAnne Fanta, DVM. The Animal Emergency & Specialty Hospital of Chattanooga is a leader in pet health care. The Animal Emergency Department is staffed by specially-trained veterinarians able to handle urgent and critical care situations for pets. The Specialty Hospital is known for its leading care, particularly of surgical and cancer cases. Dr. Nikki Branam, Operations Manager for the practice, in reflecting on the new facility, remarks, “This is an important step towards ensuring we can continue to offer the most advanced diagnostics and treatment options to our patients and to referring veterinarians in Chattanooga and surrounding areas.  We are excited to share our beautiful new facilities with the community.” Along with the new veterinary hospital, new state-of-the-art equipment allows advanced patient care. The new facility boasts a GE QX/i H1 4-slice CT Scanner, fully-equipped surgical suites, ultrasound, endoscope, advanced digital radiography, and much more. This move offers an exciting opportunity for expansion of services and care for pets in an emergency medical situation or in need of a specialist’s care. The Animal Emergency & Specialty Hospital of Chattanooga is a member of the Chattanooga Chamber of Commerce. Chamber members will join the veterinarians and staff on Thursday, May 5 at 11 a.m. for a ribbon-cutting ceremony to celebrate the opening of the new facility.

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Ribbon Cutting Ceremony Opens Animal Emergency & Specialty Center of Chattanooga

Local leaders and members of the Chattanooga Chamber of Commerce joined the veterinarians and staff of the Animal Emergency & Specialty Center of Chattanooga, an Innovetive Petcare hospital, to open its new state-of-the-art facility with a ribbon cutting ceremony on May 5, 2016. Read more

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INNOVETIVE PETCARE ACQUIRES THE VETERINARY REFERRAL HOSPITAL OF HICKORY

Innovetive Petcare, a Texas-based company that owns and operates veterinary practices throughout the U.S., today announced it acquired the veterinary management assets of Veterinary Referral Hospital of Hickory (VRHOH). Founded in 1991, VRHOH has long provided veterinary specialty care for North Carolina, Virginia, and Tennessee area pets.  Under the terms of the deal, Innovetive Petcare brings its financial, marketing, and administrative prowess to VRHOH to support the practice’s veterinarians as they continue to focus on practicing veterinary medicine. Veterinary Referral Hospital of Hickory operates 24 hours a day with an always-open emergency and critical care department. Specialty services offered to referred patients include Critical Care, Internal Medicine, Surgery, Dermatology, and Rehabilitation. VRHOH is also home to an iodine therapy center for the treatment of hyperthyroidism in cats, one of the signature programs that make this hospital an important resource for the region. Owner Scott R. Helms, DVM DABVP said, “Mark and Paul at Innovetive Pet Care were able to greatly simplify my succession planning. I look forward to continuing to provide excellent care to our referral base through our partnership with Innovetive Petcare.” Dr. Helms illustrates Innovetive Petcare’s premise that veterinarians should be able to pursue their passion for veterinary medicine without sacrificing a healthy work-life balance, burdened by management responsibilities. The Veterinary Referral Hospital of Hickory’s Hospital Administrator Mike Bridges reports, “I have experienced several sales throughout my 30-year career, some to relieve administrative burden and some for succession planning. Going through this with Innovetive Petcare has been a really positive experience and a good choice for our hospital.” Now, VRHOH has the advantage of Innovetive Petcare’s best-in-class team, tools, and financial resources. This acquisition solidifies Innovetive’s strong regional position in the southeast, an area where it now operates three leading emergency and specialty hospitals. Mark Ziller, Innovetive Petcare’s President & CEO, says, “We are  very excited to have the Veterinary Referral Hospital of Hickory team join the Innovetive Petcare family, and look forward to supporting their vision and legacy.” Innovetive Petcare seeks to acquire other general and referral veterinary practices as it continues to build the nation’s premier family of veterinary hospitals.

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Animal Emergency & Specialty Center of Chattanooga Open House

Officials with Animal Emergency & Specialty Center will introduce the new state-of-the-art veterinary hospital at an open house Saturday, April 23, that includes a Smoky Mountain DockDogs competition. The aquatic contests, for dogs that love to run, jump and swim, will continue in an abbreviated version Sunday, April 24. Owned by Innovetive Petcare Inc., the Animal Emergency & Specialty Center is a 24-hour facility equipped with CT, ultrasound, endoscopy and full orthopedic surgical suites. Its specialists handle surgical, orthopedic, cancer (oncologic) and avian and exotic animal cases. “Animal Emergency & Specialty Center has been serving Chattanooga from a smaller facility on Shallowford Road,” says marketing director Dr. Karen Parker. “This new facility on Lee Highway is larger, more accessible and encourages greater coordination between the emergency doctors and specialists.” Read more in the Times Free Press

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Dr. Karen Parker Joins Innovetive Petcare

Austin, Texas — April 20, 2016. Innovetive Petcare, Inc. is pleased to announce that Dr. Karen Parker has joined the Innovetive Petcare team. Dr. Parker brings extensive experience in veterinary medicine, business management, and marketing to her role as Director of Marketing. As Director of Marketing, Dr. Karen Parker is responsible for representing the Innovetive Petcare brand and developing marketing strategies for the veterinary hospitals owned by Innovetive Petcare. Marketing efforts will complement the tremendous skills and care of our veterinary practitioners by enhancing client acquisition, education, and interaction. Mark Ziller, President & CEO of Innovetive Petcare said, “We are very excited to have Dr. Parker join the Innovetive Petcare team. Karen’s unique mix of clinical experience and marketing acumen will be an asset to the Innovetive Petcare family of hospitals.” With a degree in Business Management & Marketing from Cornell University and a Veterinary degree from Tufts University, Dr. Parker has always balanced the practice of veterinary medicine and business. As a small animal practitioner for ten years, Dr. Parker managed a small animal practice and developed training programs for veterinary staff. Dr. Parker owned and operated VIP Placement Services, placing veterinarians in per diem and regular positions throughout New England. Dr. Parker also brings digital marketing experience to the Innovetive Petcare team. As Director of Operations at IntelliBright, Dr. Parker was integral to the development of online marketing and lead generation strategies for their clients. A published author, Dr. Parker has written on both pet health care and veterinary management issues. She is the author of the Practical Guide to Performance Appraisals, with the second edition scheduled for release this year, and Job Descriptions and Training Schedules for the Veterinary Team. “I am excited for this opportunity to be part of Innovetive Petcare’s growth and success. It is tremendous to be part of this management team and work with our exceptional practices and veterinary team,” announced Dr. Parker.

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Innovetive Petcare Donates to Support Dogs on Deployment

Innovetive Petcare made a donation to Dogs on Deployment, a non-profit organization that supports our men and women in our military by boarding their pets while they are aware on deployment. Innovetive Petcare financially supports our employees, their causes, and the communities in which they are involved through employee-directed charitable giving. The funds that were donated to Dogs on Deployment were generated through the volunteer efforts of our employees.  Through Innovetive Petcare’s BRIDGE program, for every hour our employees volunteer at a worthwhile cause, Innovetive Petcare makes a financial contribution.  Our employees select Dogs on Deployment to receive these funds for 2015. Check out the video of Animal Emergency & Specialty Center’s own Katie Brown at the recent World Dogs Awards where there was a live reunion of an active duty solder and his pet, “Saint”.  

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Things That Slow Down The Sale of Your Practice

  DVM360.com had a good article in the December 2015 issue entitled “3 Practice Sale Slowdowns”: 3 veterinary practice sale slowdowns A few things are certain: Death, taxes—and the countless ways a practice sale can be brought to a screeching halt. Dec 01, 2015 By Christopher J. Allen, DVM, JD DVM360 MAGAZINE Recently I was contacted by a group of veterinarians who had successfully negotiated an excellent deal to sell a group of practices to one of the large corporate veterinary companies. Based on what they told me then, I explained that it sounded as if everything was well on track and that if price, terms, financing and leasing had all been agreed upon, the closing should be simple and soon. But alas, I heard from them again about a month later. Apparently, the group’s attorney and CPA were being so slow in preparing schedules and documents that the corporate buyer was threatening to pull out of the deal entirely. This response is understandable; corporate practice purchases tie up the acquirer’s transition staff. These buyers need to schedule their people’s time, so time and timing are of the essence. They have little patience for unjustified delays. Clearly, negotiating and consummating a practice sale can be difficult for anyone who’s never been through it. And it can sometimes be tough to even identify who or what is holding things up when the transaction begins to stall. Let’s proceed logically through the process involved in a quick and proper clinic sale closing. Time is money First and foremost, never forget the reasons why it’s critical to move forward with the least possible delay. There are key time-sensitive realities facing both parties. Taxes. The clinic building may be part of a capital gain “like-kind” exchange and as such carries with it a severe Internal Revenue Service (IRS)-imposed time limitation for the buyer. The seller may have capital losses he needs to offset in the year the sale occurs. Missing deadlines can simply kill the sale for tax reasons. Financing rate. Banks and other lending institutions don’t commit to loans indefinitely. If some CPA or lawyer slows down the closing such that a loan commitment expires, it can result in more than an inconvenience. A rate hike can make it economically impossible for the buyer to go forward with the purchase. End of employee contracts. Many practice sales are contingent on the selling clinic having a full veterinary staff at closing. When ownership is about to change hands, employees of all categories begin to get nervous—that edginess can result in staff seeking employment elsewhere and DVMs hesitating to fulfill or renew their employment contracts. The usual suspects Second, once we understand the need for speed in finalizing a practice sale, we need to identify what’s most likely to slow things down. Here are my usual suspects: Lending institution paperwork. Often closings are delayed because banks and banks’ attorneys don’t concern themselves adequately with the importance of thoroughness. Financial institutions loan money day-in-day-out, and one deal looks a lot like the … Continue reading

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Lancers Square Animal Clinic Joins Innovetive Petcare

   Austin, Texas — November 19, 2015: Innovetive Petcare, Inc., today announced that it has acquired Lancers Square Animal Clinic (LSAC), a full-service veterinary hospital in Plano, Texas. LSAC was founded by Dr. Lee Reeves and has been serving the Plano community since 1978.   “We are very pleased to have Lancers Square Animal Clinic join the Innovetive Petcare family of hospitals.  This hospital has been faithfully serving pet owners in Plano since 1978, and we look forward to continuing their tradition of service and excellence,” said Mark Ziller, President & CEO. Innovetive Petcare seeks to acquire other general and specialty/emergency veterinary practices as it continues to build the nation’s premier family of veterinary hospitals.   About Innovetive Petcare Innovetive Petcare owns and operates veterinary hospitals. Our clinics benefit from tools, resources, and a great support team dedicated to helping veterinary practices prosper and grow. Our philosophy is to run a great business so veterinarians can focus on providing exceptional patient care. We want veterinarians and their staff to enjoy a better life, with more work-life balance, a strong supportive community, and ongoing training and career development.  For more information, please visit www.innovetivepetcare.com.  

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Ever wanted to do something else with your life?

Hospital owners who manage a veterinary practice for a decade or more demonstrate unquestionable dedication to their calling. Still, at some point, many feel a subtle yearning to do meaningful work in a different vocation. The result is a tension between that thought and the resolve to remain true to a life of serving people and animals. Career changes for veterinarians are a growing trend In fact, Dr. Valerie E. Ragan, Director of the Center for Public and Corporate Veterinary Medicine at the Virginia- Maryland College of Veterinary Medicine, provides workshops and other resources for veterinarians who are thinking of a career change. In a recent AVMA article*, she states, “We get a lot of contact from veterinarians who are looking into doing something different, but they still want to be veterinarians, and they don’t have any idea what’s out there or where to start.” She goes on to say, “Another group is veterinarians who have been in practice 25 years or longer and want to do something different for fun, to give back, or to travel.” Practice owners face two significant obstacles Time Constraints Veterinarians in practices today wear many hats as clinicians. Clients expect general practitioners to have extensive knowledge about numerous species and breeds along with expertise in every clinical discipline from radiology to nutrition. Practice owners carry the additional demands of managing a veterinary business in a changing economic climate. One survey conducted by the National Commission of Veterinary Economic Issues reported, “… owner vets spent an average of 18 hours per week on practice management tasks” Freedom to Explore Unrestricted time and money are two essential ingredients for a lifestyle of freedom. Many practice owners maintain large non-liquid equity, but don’t know their options for tapping into that wealth. So, what are some options? Spending a lot of time and cash finding a good practice manager could solve the time factor, but not the non-liquid equity. Sell your practice and take the leap to another endeavor that may or may not work out well. Delay a change until you’re older and, hopefully, in a better financial position. What if you could free up time and cash while practicing your way in your hospital? • Would you spend more time with family? • Would you volunteer for a cause you care about? • Would you explore ways to work part-time at home and build something to carry on after retirement? • Would you like to fill in the blank? Good news: many of your colleagues have found a way to gain that kind of freedom with the help of a corporate buyer. Diversify your assets by investing your equity in whatever way suits your situation. Create time in your life. Leave inventory management, staff training, payroll, accounting, marketing and all that business stuff to business professionals. Fulfill your number one calling. Focus more than ever on practicing quality medicine. Reduce staff turnover. Less stress means a happier office culture, and reduced potential for burnout. Discover new … Continue reading

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