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re: Private equity is killing our pets.
Posted on 1/8/26 at 4:20 pm to Seibu
Posted on 1/8/26 at 4:20 pm to Seibu
quote:
An equity firm bought our family business a couple of years ago (from the business that purchased us in 2015). They’ve completely killed the company...40-year old business run into the ground in 2 years. Remarkable.
Sorry to hear that. Had they indicted they planned to maintain or grow the company once purchased?
The Money-Changers consolidate and swallow up competitors to create monopolies OR purposely demolish established businesses like yours ...for perverse kicks.
PEs are economic vampires and saboteurs of American entrepreneurial independence and spirit. It's made worse when the PE's are global entities.
0
Posted on 1/8/26 at 4:38 pm to Nurbis
quote:
Deciding to euthanize it because its care has become difficult is the same mentality as aborting your child because you just aren't ready to be a parent.
Comparing a pet to a child is sociopathic behavior.
And not choosing to put an animal, who cannot communicate their pain levels or understand what is going on, through a major surgery is not refusing to "give your pet the care it needs"
It's just understanding that pets are not people.
Posted on 1/8/26 at 5:18 pm to AllbyMyRelf
quote:
My dad is a vet who sold his practice to PE because he never could find a partner willing to take equity in the practice. Seems like most graduates are women who have no long term ambition to own a practice after they start a family or they’re too in debt to purchase the practice.
After my dad sold, the corporation almost destroyed the business within a few years, but they had also purchased 4 other practices in the county.
And another factor- PE can outbid any gaggle of middle class women. The owner wants as much as he can get out of the deal, then blames the employees for not wanting to go into a million dollars in debt to corporate lender to buy the shares at the price he's asking for. Mars will. Then the owner can say the women just don't have ambition, and feel just fine riding off into the sunset with his millions from PE.
Posted on 1/8/26 at 5:21 pm to deeprig9
In my experience, the typical approach is to put seller financing in place, and the older vets I know are willing to do this.
Posted on 1/8/26 at 5:27 pm to Ailsa
quote:
Private equity
Spelled monopoly...
Posted on 1/8/26 at 5:30 pm to AllbyMyRelf
quote:
In my experience, the typical approach is to put seller financing in place, and the older vets I know are willing to do this.
In my experience, that is not the case. My wife and some of her co-workers (the OG's) were offered a deal to buy out their hospital plus two other locations. The financing all went through a corporate bank, no "payment plan" to the seller. Not long after, she left that practice (for other reasons). The owner is going to end up selling out to a corporation, guaranteed.
If it had been seller financed, like what I think you mean, where he gets 50% of the dividends until such time as X$ sale price has been met, she'd likely be a co-owner of a multi-million dollar practice in Atlanta right now. But it wasn't set up that way. So she isn't.
Posted on 1/9/26 at 8:32 am to Boss13
quote:
If better service can be provided for less money, I feel that would be a huge opportunity for grassroot startups. Why isnt that happening?
It sounds to me like it is, but there's a bit of a delay as the PE firm can run off of the clinic's preexisting reputation for a few years.
There's also not a huge pipeline of vets, the field is dominated by older vets with a full patient panel & younger women working part time/not at all when they have kids.
This is exactly what my cousin did after her 1st kid, now that they're older, she still works part-time & the family travels a lot. It's great for her, but doesn't help this problem
Posted on 1/9/26 at 8:39 am to Ailsa
My vet at least is doing very well in their own practice. Dang good at what they do, actually use common sense about a problem and not try to sell you some BS some rep is peddling, and for what I see people paying for procedures on here for their animals, they are very fair with their prices.
And they are young enough to not be selling out soon. In fact, they just built a new larger practice and has a third vet that usually works in a pet emergency clinic that comes in when the calander is full.
And they are young enough to not be selling out soon. In fact, they just built a new larger practice and has a third vet that usually works in a pet emergency clinic that comes in when the calander is full.
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