For veterinarians & practice owners · US & Canada
Consolidators have been buying veterinary practices aggressively for a decade, and most owners still learn what their practice is worth from the first buyer who writes to them. Here is how the market actually prices a practice, and what a quiet, competitive process changes.
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The honest version
Multi-doctor practices commonly trade in the range of 8–12x adjusted EBITDA; smaller single-doctor practices often land closer to 5–7x. Those are ranges from real transactions, not a formula — and the spread between the bottom and the top of that range on a single practice is usually life-changing money.
The range is wide because the same business is worth different amounts to different buyers. In this sector you are usually looking at three:
Which of those is at your table changes your number far more than anything on your equipment list.
What moves the number
One caution specific to this sector: consolidators frequently structure offers with meaningful earn-outs or equity roll-over. A headline number is not the same as cash at closing, and comparing two offers without modelling the structure is how owners end up disappointed two years later.
The process
Most owners in this sector are approached directly, unsolicited, by a consolidator or a platform buyer. That approach is flattering and it is also the single most expensive letter you can accept, because a buyer negotiating against nobody has no reason to move on price or on terms.
We run the opposite process. Buyers are qualified and under confidentiality agreement before they learn whose business it is. Nothing is listed, advertised, or published. Your staff, your customers, and your competitors learn nothing until you decide they should — and several credible buyers are considering the same opportunity at the same time.
The result is not only a better number. It is better terms: what happens to your team, how long you stay, how the earn-out is structured, and what happens to any real estate.
Common questions
Multi-doctor veterinary practices commonly trade between 8 and 12 times adjusted EBITDA, and smaller single-doctor practices closer to 5 to 7 times. The biggest variables are associate coverage, production mix, and whether the practice can run without the owner. A confidential valuation conversation will give you a written range based on real closings rather than a rule of thumb.
Sometimes, but never on the first letter and never without competition. Consolidators are legitimate buyers who often pay well, but a buyer negotiating against nobody has no reason to improve price or terms. Running a quiet, competitive process with several qualified buyers is what changes the outcome.
Not through us. There is no listing and no advertisement. Buyers are qualified and under a confidentiality agreement before they learn the identity of the practice, and you approve every step before it happens, including when and how your team is told.
The engine, pointed at your industry
Before market
Buyer matching
Researched and scored against your business — approached under NDA, only with your written go-ahead.
Buyer Simulation
Found and fixed before you go to market — not in diligence, where it costs you money.
Offer analysis
Free · 3 minutes · no email to see it — your range, your value drivers scored, your likely buyers, your readiness, and what each fix is roughly worth in dollars.