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Buy a Veterinary Practice in 2026: 5-22x EBITDA by Tier, AAHA Premium, ProSal Models

Updated June 2026 · CT Acquisitions

Veterinary practice acquisition is the most institutionally consolidated category in independent healthcare. Roughly 25% of US companion-animal hospitals are corporate-owned, with the top six consolidators (Mars, JAB-owned NVA, PetVet, American Veterinary Group, VetCor, and Pathway) controlling 5,000+ hospitals between them. Buying a veterinary practice in 2026 means competing inside a market where DSO-style aggregators set the price, AAHA accreditation drives a premium, and the binding constraint is doctor supply rather than patient demand. For corporate consolidators, search funders, family offices, doctor-led groups, and independent sponsors, the opportunity is real but the math is unforgiving for anyone who underwrites without category fluency.

This guide covers how veterinary practices are underwritten in 2026, which operational signals separate a 6x single-doc from a 14x multi-doc platform, what deal structures sellers actually accept, and how to close acquisitions that compound after the transaction.

Why veterinary is the most consolidated vertical in healthcare

Three structural forces make buying a veterinary practice both an opportunity and a knife fight, and they compound rather than offset each other.

First, consolidation has already happened at the top. Roughly 25% of US companion-animal hospitals are corporate-owned. Mars Veterinary Health alone runs 2,000+ hospitals across VCA, Banfield, BluePearl, and AniCura. JAB Holdings, after acquiring Compassion-First and folding it into National Veterinary Associates, operates 1,500+ hospitals. PetVet Care Centers (KKR plus Ontario Teachers) runs 450+, American Veterinary Group (Oak Hill Capital) 360+, Pathway Vet Alliance (TSG Consumer Partners) 300+, VetCor (Oak Hill plus Harvest Partners) 280+, and Mission Veterinary Partners (Morgan Stanley Capital Partners) 190+ hospitals. Heart and Paw (Independence Capital), Encore Vet Group (Aquiline), Suveto (Apax), Lakefield (American Securities), Mountain Vet Group (Goldman Sachs), and Encompass Vet Group (Pamlico) round out the top 15. Any GP practice above $1.5M EBITDA will see multiple LOIs from this group within weeks of going to market.

Second, doctor supply is the binding constraint. The American Veterinary Medical Association puts the active US DVM count at roughly 127,000 with an estimated 15,000 unfilled positions and a projected shortage running into the 2030s. The 33 accredited US veterinary colleges graduate roughly 3,600 new DVMs per year, with average educational debt above $200K per graduate. Associate compensation is rising 6 to 9% annually, ProSal payouts are expanding, and any deal where the seller is the only doctor carries acute key-person risk. Goldman Sachs estimated US pet spending at $151 billion in 2025 with roughly 5% annual growth projected through 2030, so demand is not the issue. Capacity is.

Third, specialty and emergency economics dwarf general practice. A 24/7 emergency referral center with board-certified specialists in surgery, internal medicine, oncology, and critical care can generate $8M to $20M in revenue with 22 to 28% EBITDA margins. Veterinary Emergency Group, Vista Equity-backed, has built its entire thesis around standalone ER as the highest-margin segment in the space. Specialty and ER deals routinely transact at 15x to 22x EBITDA, roughly double the multi-doc GP range.

For buyers, the combination is rare: recession resistance, pet humanization tailwinds, a doctor shortage that creates pricing power, and enough remaining independent supply to still matter. The challenge is that the best sellers know exactly what their practice is worth, and corporate buyers have set the floor.

What buyers are actually paying for veterinary in 2026

Valuation ranges in veterinary are wider than in any other healthcare services category, because the spread between a single-doctor strip-mall GP and a fully accredited multi-specialty referral hospital reflects two fundamentally different businesses. A $400K SDE solo-doc practice with one DVM working four days a week is a different asset than a $4M EBITDA four-DVM AAHA-accredited hospital with specialty services and standalone real estate. The multiples reflect the difference.

The spread between a 6x single-doc deal and a 14x multi-doc platform comes down to seven factors that every sophisticated buyer models explicitly:

• Doctor production mix. Owner production as a percentage of total. Below 35% owner-produced is platform-grade. Above 60% triggers a key-person discount and structured earnout. Consolidators will not pay platform multiples on owner-heavy production.
• AAHA accreditation. Roughly 12 to 15% of US companion-animal hospitals are AAHA-accredited. Buyers pay a 1.0x to 2.0x EBITDA premium because it signals documented protocols, anesthesia safety, dental standards, and pain management compliance.
• DVM compensation as percent of production. The ProSal model (typically 20 to 25% of personal production with a base guarantee) is the post-acquisition standard. Flat-salary practices require renegotiation that frequently triggers DVM turnover.
• Revenue per DVM FTE. Healthy GP practices generate $700K to $1.1M per full-time DVM. Above $900K signals operational discipline; below $600K signals capacity or pricing problems.
• Fear Free certification and culture. Practices with Fear Free-certified staff command client loyalty premiums and reduced staff turnover. Increasingly a baseline corporate-buyer expectation.
• Real estate ownership. Corporate consolidators typically prefer a long-term triple-net lease (15 to 20 years, market rent) rather than buying the building. Real-estate-included deals often look richer but allocate value away from EBITDA.
• Practice management system. Cornerstone, AVImark, Impromed, eVetPractice, or Pulse with clean reporting is a valuation multiplier. Paper charts are a 0.5x to 1.0x discount.

The 2026 pricing reality

Because corporate consolidators are aggressively competing for AAHA-accredited multi-doc targets, pricing has remained firm even as broader healthcare M&A has softened. Multi-doc GP hospitals in the $2M to $5M EBITDA range routinely receive multiple LOIs at 12x to 14x. Specialty and ER deals at scale clear 18x to 20x. The 2021 to 2022 peak multiples (16x for GP, 25x+ for ER) have compressed, but the floor has held.

For independent and search-fund buyers competing with the consolidators, the implication is that you either need a differentiated thesis (single-doc transition, secondary-market geography, doctor-led group with rollover-heavy structure) or you need to move to the $300K to $1M SDE single-doc band where corporate buyers rarely look. In that range, valuations are 5x to 8x SDE and sellers often prioritize continuity, doctor and staff retention, and real estate handling over headline price.

The six buyer archetypes in veterinary

Understanding which buyer you are (and which you’re competing against) changes how you structure offers when buying a veterinary practice.

1. Corporate consolidators (Mars, NVA, PetVet, AVG, Pathway, VetCor, MVP)

Mars Veterinary Health, JAB-owned NVA, PetVet Care Centers (KKR plus Ontario Teachers), American Veterinary Group (Oak Hill Capital), Pathway Vet Alliance (TSG Consumer Partners), VetCor (Oak Hill plus Harvest), and Mission Veterinary Partners (Morgan Stanley Capital Partners after Shore Capital exit) collectively acquire 30 to 100+ hospitals per year. Target profile: $1.5M+ EBITDA, multi-doc, AAHA-accredited or accreditable, owner willing to roll 10 to 25% equity and stay 2 to 5 years. They pay platform multiples and write 60 to 75% cash at close.

2. Specialty and ER platform buyers (VEG, BluePearl, MedVet)

Veterinary Emergency Group (Vista Equity), BluePearl (Mars), and MedVet (Ontario Teachers minority) acquire standalone ER and specialty hospitals at the highest multiples in the category. These buyers compete with each other rather than with GP consolidators, and their integration tends to be more thoughtful because they already operate in the segment.

3. Doctor-led groups and independent sponsors

Encore Vet Group (Aquiline), Heart and Paw (Independence Capital, ~50 clinics), CityVet (Imperial plus Highview), Innovetive Petcare (Tyree plus Quad), Suveto (Apax, ~40 clinics), and Lakefield Veterinary Group (American Securities) sit between corporate consolidators and search funds. They compete on cultural fit, doctor partnership models, and rollover equity terms.

4. Search funds

Individual operators with institutional backing acquiring one practice to run. Multiples: 5x to 7x SDE for single-doc, 8x to 11x EBITDA for two-doc. Target profile: $300K to $1.5M SDE, established client base, manageable doctor count. Searchers almost always need an associate DVM (not the owner) to stay because the searcher is rarely a DVM themselves.

5. Family offices

Long-hold capital (10 to 25 year horizon) that does not need platform exits. Price similarly to corporate consolidators but with more patience on integration and less pressure on debt. Attractive to sellers prioritizing legacy and gradual doctor transitions. Mountain Vet Group (Goldman Sachs) and Encompass Vet Group (Pamlico) blur this line.

6. Local DVM buyers and partner buy-ins

Associate DVMs buying out their employer, often with seller financing and SBA 7(a) support. Cannot match corporate pricing (5x to 8x EBITDA for what a consolidator would pay 11x for) but offer the cleanest continuity and strongest doctor retention. Often the best outcome for owners prioritizing legacy and staff over headline price.

Due diligence: the veterinary-specific deep dive

Generic healthcare M&A due diligence is necessary but not sufficient for buying a veterinary practice. The category-specific signals are where value creation and destruction actually happen. Here is what experienced veterinary buyers do in addition to standard quality of earnings, legal, and insurance review.

Doctor production schedule analysis

Pull a 24-month production report by individual DVM. Bucket every transaction by producer, service category (exams, surgery, dental, imaging, pharmacy, food, boarding, grooming), and patient. Calculate revenue per DVM FTE, owner share of total production, and the production trend by associate. Practices where the owner produces 70%+ are not platform-grade regardless of headline EBITDA.

DVM compensation reconciliation

For every DVM, document compensation: base salary, ProSal percentage, production threshold, benefits (CE, liability, license fees), and total cost. Compare to the post-acquisition target ProSal (typically 20 to 25% of personal production with a guarantee floor). Calculate the EBITDA impact of moving each DVM to the target model. The result is often a $50K to $200K per-DVM EBITDA adjustment that platform underwriting requires.

AAHA accreditation and standards audit

If the practice claims AAHA accreditation, request the most recent accreditation report and corrective action items, and verify status directly with AAHA. If the practice is not accredited, model the cost and timeline to accreditation (typically $30K to $80K in facility upgrades, anesthesia monitoring, controlled-substance documentation, and protocol development over 12 to 18 months).

Staff retention and key roles

Build a staff schedule with role, tenure, compensation, and replacement difficulty. Practice managers, licensed technicians (RVT, LVT, CVT), and lead receptionists are the operational backbone. Technician shortages are nearly as acute as DVM shortages, with NAVTA data showing 50%+ five-year attrition. Underwrite retention bonuses for named technicians the same way you would for DVMs.

Real estate structure

If the seller owns the building (true for 40 to 55% of independent practices), decide the buyer’s preferred structure before LOI. Most corporate consolidators want a 15 to 20 year triple-net lease at market rent ($25 to $45 per square foot in suburban markets, higher in urban) with the seller retaining ownership. Commission a separate commercial appraisal for any real estate inside the transaction.

Pharmacy and controlled substances

Veterinary pharmacy is meaningful revenue (typically 15 to 25% of gross) but online competition (Chewy Pharmacy, 1-800-PetMeds, Walmart Pet Rx) has compressed margins. Audit prescription volume by drug class, online exposure (NexGard, Heartgard, Apoquel), and DEA controlled-substance inventory. Missing or misallocated controls trigger DEA action that survives the close.

Client and patient file analysis

Pull active patient count, new client acquisition trend (24 months), client retention, and average annual visit frequency. A healthy GP practice runs 2,500 to 4,500 active patients per FTE DVM, 25 to 40 new clients per month, and 75%+ annual retention. Falling new-client acquisition or retention below 65% suggests service or reputation issues that survive ownership change.

Regulatory and licensing

State veterinary medical board license status for all DVMs and technicians. DEA registration. USDA accreditation if interstate health certificates are issued. OSHA compliance (radiation, anesthesia gas scavenging, hazardous waste). VCPR documentation per AVMA Model Practice Act. State CPOM restrictions in California, Texas, New York, and others that dictate ownership structure for corporate consolidators.

Structuring the offer

The best veterinary buyers win on structure as often as on price. A well-structured offer can beat a higher nominal offer if it matches what the seller actually cares about: doctor continuity, staff preservation, real estate flexibility, and tax-efficient consideration.

The standard veterinary deal structure (2026)

• Cash at close: 60–75% of total enterprise value, lower for corporate consolidators that require rollover equity.
• Seller rollover equity: 10–25% in corporate-consolidator deals where the seller continues operating; 5–15% in family-office and independent-sponsor deals. Often 0% in search-fund and SBA deals where the owner exits within 12 months.
• Earnout or contingent consideration: 5–15% over 12 to 36 months, typically tied to DVM production retention, client retention, or AAHA accreditation milestones. Less common with corporate consolidators that prefer rollover over earnout.
• Escrow: 10–15% held 12 to 24 months against indemnification claims; often supplemented or replaced by representations and warranties insurance in deals above $5M EV.
• Real estate: separate transaction at independent appraisal, with 15 to 20 year triple-net lease back to operating company.
• DVM employment agreements: 3–5 year with the selling owner-DVM (typically at ProSal with a guarantee floor), 1 to 3 year associate employment agreements with named producing DVMs.

Where smart buyers differentiate

The offer components sellers weight most heavily (in order): cash at close, post-close compensation and ProSal terms for the seller and associates, real estate handling, staff retention commitments, cultural and brand continuity, and timeline certainty. Headline EBITDA multiple is often the 4th or 5th factor, particularly for owners approaching retirement.

Buyers who win on non-price factors typically: pre-commit to retention bonuses for named technicians and practice managers (often $5K to $25K paid at 12 and 24 months), write earnouts with achievable floors (90% DVM production retention triggers a minimum payment), guarantee Fear Free and AAHA standards will be maintained or upgraded, and structure the real estate as a buyer-friendly lease that still gives the seller predictable income.

The earnout trap

The single most destructive element of a veterinary deal is a poorly designed earnout. If the earnout is tied to EBITDA, sellers worry (correctly) about post-close cost allocation, particularly corporate overhead allocations from consolidators. If it is tied to revenue, sellers may push procedures and pharmacy sales at the expense of medicine. If it is tied to metrics the seller does not control (cross-sell from sister hospitals, central-lab utilization), it is functionally a price reduction.

The structures that work: DVM production retention measured per producer, client retention against a 12-month baseline, AAHA accreditation milestone, and Fear Free certification milestone. All four are things the seller can meaningfully influence for 12 to 36 months post-close.

Integration: where acquirers create or destroy value

Corporate consolidators publicly cite their integration playbooks but the reality is more variable than the decks suggest. The veterinary deals that compound are the ones where buyers respect three principles.

Do not break the medicine in year one

Sellers often run medicine on their own protocols (preferred drugs, anesthesia choices, surgical technique, dental thresholds). Buyers see opportunity in standardization and push corporate protocols in the first 90 days. The result is DVM frustration, client perception that quality has dropped, and the named clinician departures that typically follow. The correct approach is a 12 to 24 month protocol integration with DVM input, gradual formulary alignment, and clear evidence-based justification for any change.

Lock in DVMs and lead technicians before the announcement

Top DVMs have options. The moment a deal is announced, recruiters reach out within 24 hours and other independent practices and consolidators move on retention conversations. Smart buyers structure retention bonuses (typically 15 to 30% of annual compensation for named DVMs, $5K to $25K for lead technicians, paid in 12 to 24 month tranches contingent on continued employment) and finalize ProSal renegotiations before close, not after.

Preserve the client experience

Long-tenured clients chose this practice for specific reasons (the receptionist who knows their dog by name, the technician who handles their fearful cat, the doctor who returns calls personally). Corporate buyers who swap in new phone systems, central call centers, online-only scheduling, or rebrand the hospital frequently see 10 to 20% client attrition in year one. The better practice is to preserve the brand and experience, layer in corporate systems behind the scenes (purchasing, lab routing, payroll, accounting), and only rebrand after the integration is operationally stable.

Financing a veterinary acquisition

Capital structure varies by buyer type, but some patterns are consistent in 2026.

SBA 7(a) loans

Independent buyers, search funders, and associate DVMs buying out their employer commonly use SBA 7(a) for deals up to $5M. Rates are prime plus 2.0 to 2.75% with 10 year amortization for goodwill (25 years with real estate). Live Oak Bank remains the dominant SBA veterinary lender, with Bank of America, Pinnacle, and First Citizens active. The constraint: SBA requires the seller to exit operationally within 12 months, which can conflict with extended owner-DVM transitions.

Senior debt and unitranche

For multi-doctor and platform deals ($5M to $25M EV), regional banks and specialty healthcare lenders provide 2.5x to 4.0x EBITDA senior debt at SOFR plus 3.0 to 4.5%. Twin Brook, Monroe, Antares, and AB Private Credit Investors are common unitranche providers above $10M. Healthcare-specialty banks (CIT, MidCap Financial, Capital One Healthcare) compete actively in veterinary.

Rollover equity and seller financing

Corporate consolidators almost always structure 10 to 25% rollover equity from the seller, which functions as both alignment and as junior capital. Seller financing (5 to 15% of purchase price, subordinated, 5 to 7 year term, 6 to 9% rates) is common in search-fund, SBA, and associate-buyout deals, less so in consolidator deals where rollover serves the same purpose.

Red flags that kill veterinary deals

Some veterinary deals should not close. The patterns that consistently predict post-close failure:

• Quality of earnings reveals 20%+ EBITDA adjustment. Usually from owner compensation (DVMs frequently underpay themselves), personal expenses through the practice, or aggressive add-backs on associate comp. A 10 to 15% adjustment is normal. Above 20%, the corrected EBITDA often does not support the headline multiple.
• Owner DVM produces more than 70% of revenue. This is a single-doc practice regardless of presentation. Post-close, the owner’s production must be replaced or EBITDA evaporates. Consolidators will not pay platform multiples on this profile.
• Associate DVM turnover exceeds 25% annually. Signals a compensation, culture, or owner-personality problem that survives the transaction and can destroy the deal’s thesis within 12 months.
• Deferred capex on imaging, dental, surgery suite. Veterinary equipment (digital radiology, ultrasound, CT, dental, surgical tables, anesthesia) has a 7 to 12 year refresh cycle. 5+ years of deferred capex means a $100K to $400K post-close investment.
• Controlled-substance documentation gaps. DEA records that do not reconcile, missing destruction logs, or unaccounted ketamine, telazol, or buprenorphine. Successor liability is real and the DEA does not care that you just bought the practice.
• CPOM-state ownership structure issues. California, Texas, New York, and other CPOM states require DVM-owned PC plus MSO structures. Buyers from outside these states routinely underestimate the legal complexity.

The CT Acquisitions perspective

We work both sides of the veterinary market: introducing sellers to qualified buyers and sourcing deal flow for institutional buyer networks that have engaged us, including direct mandates with several of the top 10 corporate consolidators. Our observations from the last 36 months of veterinary M&A:

• The highest bidder is not always the best buyer. Owner-DVMs who report the best post-close experience prioritized rollover-equity alignment, cultural fit, and explicit commitments on staff and protocol continuity, sometimes accepting 1.0 to 1.5 turns of EBITDA less than the highest bidder.
• Single-doc deals are the search-fund opportunity. Corporate consolidators rarely touch single-doc practices below $750K EBITDA because the integration math does not work, leaving a large supply of $300K to $800K SDE practices for search funders and independent operators at 5x to 7x SDE.
• Specialty and ER deals are the highest-multiple game. A board-certified surgeon group, an internal medicine referral practice, or a 24/7 ER hospital with 22 to 28% EBITDA margins clears 18x to 22x. Supply is thin (~800 to 1,200 specialty practices per VetPartners industry data) and the buyer pool is concentrated to VEG, BluePearl, MedVet, and Mars subsidiaries.
• Real estate decisions matter more than buyers expect. Owner-occupied real estate is present in 40 to 55% of independent practices. Buyers who default to “we will buy the building” frequently overpay; the better default in 2026 is a 15 to 20 year triple-net lease.
• State-level CPOM nuance is the most underestimated diligence item. California, Texas, and New York restrict practice ownership to licensed DVMs, forcing corporate consolidators into MSO structures. Buyers underwriting national footprints without state-specific counsel hit closing delays.

If you’re a buyer, here’s what we recommend

Whether you are a first-time search fund buyer, an independent sponsor building a thesis, a corporate consolidator looking for add-ons, or an associate DVM buying out your employer, the same playbook applies when buying a veterinary practice:

1. Write down your thesis in one page. Geography, size, practice type (GP, specialty, ER, mobile), DVM model, real estate posture, hold period. Everything you buy should be defensible against this thesis.
2. Build a deal-flow machine before you need deals. Proprietary sourcing typically outperforms broker-led processes on price and terms. This means direct outreach to owner-DVMs, relationships with veterinary CPAs (VMG members) and M&A attorneys, and presence at AVMA, VHMA, and AAHA conferences.
3. Underwrite from the doctor schedule up. The best veterinary practices are built on associate DVM productivity and retention. Your diligence should pull individual production reports and model the post-close compensation structure for every DVM before LOI.
4. Do not mistake price for deal quality. Buyers who pay 12x for an AAHA-accredited multi-doc practice with disciplined ProSal economics, documented protocols, and a stable DVM team typically return capital more reliably than buyers who pay 7x for an owner-dependent single-doc practice that looks cheap on paper.

Working with CT Acquisitions as a buyer

We maintain a qualified buyer network of corporate consolidators, specialty and ER platforms, family offices, doctor-led groups, independent sponsors, and search funds. If your thesis fits the deal flow we see, we are direct, fast, and selective. We do not run broad auction processes; we match owner-DVMs to the small number of buyers right for their specific practice.

For buyers, this means no wasted time on mis-fit deals, early access to deals that have not hit the market, and a sellers-first reputation owner-DVMs trust. The buyer pays us at close; owners pay nothing.

If you are actively acquiring veterinary practices, set up a 30-minute conversation. We will be direct about whether our deal flow fits.

Frequently asked questions about buying a veterinary practice

What EBITDA multiple should I pay when buying a veterinary practice in 2026?

Platform-grade multi-doctor AAHA-accredited practices with disciplined ProSal economics see competitive bidding in the 11x to 15x EBITDA range from corporate consolidators. Single-doctor practices typically transact at 5x to 8x SDE. Specialty referral and 24/7 emergency centers clear 14x to 22x EBITDA. See our veterinary business valuation guide for the underwriting framework.

How long does it take to close a veterinary acquisition?

From signed LOI to close, 90 to 150 days is typical. Corporate consolidators with dedicated diligence teams close at the fast end (75 to 90 days). Deals with complex DVM transitions, real estate, AAHA accreditation gaps, or CPOM-state legal structure take longer.

Should I use an SBA loan to buy a veterinary practice?

SBA 7(a) works well for independent buyers, search funders, and associate DVMs acquiring practices up to $5M. Rates are prime plus 2.0 to 2.75% with 10 year goodwill amortization (25 years with real estate). Live Oak Bank, Bank of America, Pinnacle, and First Citizens are the most active SBA veterinary lenders. The constraint is the 12 month seller exit requirement.

How do I source veterinary deal flow if I am new to the category?

Most effective in order of yield: direct outreach to owner-DVMs identified through state licensing records and AAHA lists; relationships with veterinary CPAs (VMG, VHMA) and M&A attorneys; presence at AVMA, VMX, and WVC events; M&A advisors who represent buyer networks; and broker-listed deals.

What is the biggest mistake first-time veterinary buyers make?

Underestimating the DVM dynamic. Top producers have recruiters calling within 24 hours of any deal announcement. First-time buyers often focus on the financial deal and discover in the first 90 days that they did not secure the associates who drive revenue. Retention bonuses, transparent communication, and pre-close ProSal renegotiations are essential.

Can I buy a veterinary practice with no veterinary background?

Yes, with structure. The cleanest path is acquiring a practice with two or more associate DVMs plus a 1 to 3 year owner transition where the seller stays as Medical Director. In CPOM states, structure as an MSO with a DVM-owned PC handling clinical decisions. See the acquisition playbook for the step-by-step.

How much working capital do I need to close a veterinary deal?

For a $2M EBITDA practice (~$7M to $10M revenue), expect 5 to 8% of revenue in working capital at close (receivables, pharmacy inventory, surgical supplies), typically $350K to $800K on top of purchase price. Pharmacy inventory in particular needs careful counting; sellers frequently overstate value by 15 to 25%.

How does AAHA accreditation affect veterinary practice valuation?

AAHA accreditation adds 1.0x to 2.0x EBITDA to the multiple because it signals documented protocols, anesthesia safety standards, controlled-substance discipline, pain management, dental quality, and emergency preparedness across more than 900 standards. Only 12 to 15% of US companion-animal hospitals are accredited. Non-accredited practices can still command strong multiples, but buyers usually model a $30K to $80K and 12 to 18 month investment to reach accreditation post-close.

Related resources for buyers

• Veterinary practice valuations and multiples (seller perspective) — useful context on what sellers are being told
• Veterinary business valuation guide — the underwriting framework in depth
• How to buy a veterinary practice: step-by-step — LOI through close walkthrough
• Private equity in veterinary: 2026 industry report — consolidation thesis and platform landscape
• All buyer playbooks — browse adjacent healthcare and services verticals