Veterinary Consolidation Deep Dive - 2

In the first article of our deep dive series, we examined how mergers like the one between Southern Veterinary Partners (SVP) and Mission Veterinary Partners (MVP) reflect the continued momentum in U.S. veterinary consolidation. Today, we step back from any single consolidator’s story and focus on industry-wide lessons. We spoke with Shawn Rodricks who has been involved in more than 200 veterinary clinic acquisitions over the course of about eight years at Amerivet.

If you missed Part 1, you can check it out here. The full podcast recording with Shawn is available on Spotify and Youtube.

A Quick Recap: Where the Market Stands

Veterinary consolidation has continued to expand across the U.S. in the last decade, but the exact percentage of corporate-owned clinics is a subject of debate. Some industry professionals estimate around 20–30% of clinics are under consolidated ownership, while others place the figure lower or higher (Shawn places it around 19%). Regardless, it’s clear that most clinics remain independent—a sign that, despite the growing presence of large platforms, there remains plenty of room for both new entrants and mid-sized consolidators to compete.

Why do so many deals keep happening? A few underlying factors:

1. Demographics: Many baby-boomer practice owners are reaching retirement age, opening a natural window for them to sell.

2. Private Equity Interest: Veterinary care has historically shown resilience, even in economic downturns, making it attractive for institutional investors seeking stable returns.

3. Generational Shifts: Younger veterinarians often gravitate to corporate or group support, whether for mentorship, more stable hours, or expanded benefits—not necessarily seeking solo ownership.

At the same time, rising interest rates and growing competition for high-quality practices mean acquirers must be more strategic than ever.

The 200+ Acquisition Perspective

A strong commonality across all recent veterinary M&A players—be it Amerivet, VetCor, NVA, or smaller niche consolidators—is the growing sophistication of deals. Whereas early roll-ups depended largely on straightforward financial levers and quick synergy plays, modern acquirers now heavily weigh: