Frequently Asked Questions

VetLink Partners is a veterinarian-led partnership platform focused on small animal and specialty veterinary practices in Northeast. We partner with practice owners who want the benefits of scale (back-office support, growth resources, peer networks) without sacrificing the autonomy, culture, and identity they have built.

We are not a corporate consolidator. We are a group of veterinary professionals and operators who believe independently minded practices deliver better medicine and better outcomes.

VetLink works with Haven Capital as a financial partner. However, our model is fundamentally different from traditional PE-backed consolidators. We are veterinarian-led, not investor-led. Clinical decisions are made by veterinarians. Operational decisions are made collaboratively with practice owners. Financial partners provide capital; they do not dictate how practices are run.

We are transparent about our capital structure because we believe you deserve to know exactly who is behind the table.

VetLink is led by operators and veterinary professionals who have experience both in clinical practice and in business operations. Our leadership team has deep roots in veterinary medicine, M&A, and practice management. We are not absentee investors. We are hands-on partners who understand what it takes to run a practice because we have done it ourselves.

We focus on small animal general practices, specialty practices, and emergency hospitals in Northeast. Our ideal partner practice has $500K or more in adjusted EBITDA, a strong local reputation, and an owner who cares about what happens to their practice after the transition.

That said, we evaluate every opportunity individually. If you are outside these parameters but believe there is a fit, we are happy to talk.

From first conversation to closing, most partnerships complete in 3 to 6 months. The exact timeline depends on the complexity of your practice, how quickly documents are gathered, and any unique legal or operational considerations.

We never rush the process. If you need more time, we accommodate. The goal is a deal that both sides feel good about, not a speed record.

Step 1: An initial conversation to understand your practice and goals (no pressure, no pitch).

Step 2: Practice evaluation and valuation, with full transparency on how we arrive at our number.

Step 3: Letter of Intent outlining key deal terms in plain language.

Step 4: Due diligence and Quality of Earnings analysis.

Step 5: Final deal structuring and documentation.

Step 6: Closing.

Step 7: Post-close transition and ongoing support.

For a detailed walkthrough, visit our Process page.

No. Many of our partners work with us directly without a broker, and they appreciate the simplicity of a direct relationship. However, if you have a broker or advisor you trust, we work cooperatively with them. We pay standard broker fees and welcome their involvement.

The important thing is that you feel supported and well-represented, whether that is through a broker, your own attorney, or a trusted advisor.

Absolutely. Every conversation with VetLink is confidential. We do not share your information with anyone, and we do not approach your staff, clients, or competitors. If you choose to move forward, we will sign a formal Non-Disclosure Agreement before any sensitive financial information is exchanged.

We value practices based on adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization). This starts with your net income and adds back owner compensation above market rate, one-time expenses, personal expenses run through the business, and other standard adjustments.

We then apply a multiple to that adjusted EBITDA based on practice size, growth trajectory, market position, and other factors. We walk you through every number so there are no surprises.

Current market multiples for veterinary practices range from 8x to 13x+ adjusted EBITDA, depending on practice size and characteristics. Under $1M EBITDA typically falls in the 8-9.5x range. Between $1M and $3M EBITDA is typically 9.5-11.5x. Above $3M can reach 11-13x or higher.

We offer fair, market-rate valuations. We do not lowball, and we do not overpromise. Our goal is a valuation that reflects the true value of what you have built.

Typically, the sale includes all tangible assets (equipment, inventory, supplies), intangible assets (goodwill, patient records, practice name), and assignment of key contracts (vendor agreements, leases). Real estate is handled separately, either through a lease-back arrangement or a concurrent sale, depending on your preference.

We work through the specifics with you to ensure the deal structure reflects your goals, not just ours.

They stay. Your team is one of the most valuable parts of your practice. We do not bring in new management, restructure departments, or replace team members. Everyone receives competitive compensation and benefits, and we often improve benefits packages as part of the transition.

Staff retention is a core commitment, not a talking point. It is built into our partnership agreements.

No. Your culture is your competitive advantage. The way you treat patients, the relationships your team has with clients, the atmosphere in your clinic: these things are what make your practice valuable. Changing them would be counterproductive.

We provide support and resources. We do not impose a corporate culture, mandate dress codes, or install surveillance metrics. Your practice continues to feel like your practice.

Together. We coordinate the timing and messaging with you. You are the one who tells your team, in your voice, with your message. We are there to answer questions and provide reassurance, but the announcement comes from you because your team trusts you.

Most staff announcements go better than owners expect. When the message is "everything stays the same, and you are getting better benefits," the response is typically positive.

Yes. Many of our partners continue practicing after closing. Some maintain a full clinical schedule. Others reduce their hours and focus on mentoring, specialty cases, or part-time practice. The arrangement is flexible and based on what you want.

If you love practicing medicine but hate running a business, VetLink removes the business burden so you can focus on the medicine.

That depends entirely on you. Some owners stay on as Managing Veterinarians with full clinical authority. Others transition to a consulting or advisory role. Some practice part-time while pursuing other interests. A few prefer a clean break with a defined transition period.

We discuss your ideal post-close role during the LOI stage and build it into the partnership agreement so expectations are clear on both sides.

We plan for that. If you are ready to step away within 1 to 2 years, we build a transition plan that includes recruiting an associate or identifying an internal successor. The goal is a smooth handoff that protects your patients, your staff, and your legacy.

Retirement does not have to mean disappearing overnight. Most owners find that a gradual transition over 12 to 18 months is the most satisfying approach, for them and for their team.

Most VetLink partnerships are structured as asset purchases with a combination of cash at close and, in some cases, an earnout or rollover equity component. The exact mix depends on your preferences, tax considerations, and the characteristics of your practice.

We are flexible on structure. Some owners want maximum cash at close. Others prefer a structure that defers some consideration for tax advantages. We work with your advisors to find the optimal arrangement.

If an earnout is part of the deal, we structure it with clear, achievable milestones tied to practice performance. We do not use aggressive targets designed to minimize payouts. Our earnout completion rates are significantly higher than industry averages because we set realistic expectations and provide the support needed to achieve them.

Every earnout provision is discussed transparently. You will know exactly what triggers payment, how it is calculated, and when you can expect to receive it.

Working capital requirements are defined in the purchase agreement based on a trailing average. We agree on a target working capital amount during the LOI stage, and the final adjustment is calculated at closing. If working capital is above the target, you receive the excess. If it is below, the purchase price is adjusted accordingly.

We walk you through the working capital calculation so there are no surprises at the closing table.

Tax implications vary based on your corporate structure (S-Corp, C-Corp, LLC, sole proprietorship), the deal structure (asset vs. stock sale), and the allocation of the purchase price across asset categories. We strongly recommend working with a CPA or tax advisor who understands veterinary practice sales.

Our team can connect you with experienced tax professionals if you do not already have one. The right tax planning can save you hundreds of thousands of dollars.