Behind the Scenes of Consolidation

For this finale episode of Consolidate That, Ivan and Ryan take a moment to look back on their nearly three-year podcast journey discussing the veterinary industry and consolidation. They also introduce two new podcasts: "The Bird Bath," covering veterinary industry news, and "The Bark Side," exploring how independent practices can apply corporate strategies.

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Topics discussed:

• Podcast Milestone and Gratitude
• Reflection on Past Topics and Notable Guests
• Introduction of New Podcasts

In this episode, Bill Snow, an experienced M&A professional with over 30 years of experience in investment banking and M&A, discusses various aspects of mergers and acquisitions with Ryan Leech and Dr. Ivan Zak, particularly in the context of veterinary practices. They cover a range of topics, including the difficulties of sourcing deals, conducting due diligence, negotiating with sellers, and successfully integrating acquired businesses.

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Topics discussed:

• Finding suitable veterinary practices for the acquisition
• How to thoroughly assess the target clinic's financial, operational, and legal aspects
• Key aspects to consider in the negotiations

In this episode of Consolidate That! Ryan and Ivan are joined by Sarah Hale, Pet Resort Manager at Danville Family Vet, to talk about the successful model of integrating grooming, daycare, and boarding services with veterinary care, creating a 'one-stop shop' for pet owners while boosting revenue and client loyalty.

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Topics discussed:

• Successful integration of grooming, daycare, and boarding with veterinary care
• Building strong client relationships and offering pet-beneficial services
• Positive impact of offering daycare services for pets and fostering trust

In this episode, Ryan and Ivan invite Colin Carr, Founder and CEO of CARR, to discuss the role of real estate in veterinary practice negotiations and the challenges consolidators face when acquiring multiple clinics. The conversation delves into various aspects of real estate, including negotiations during acquisitions, dealing with existing leases, and the benefits of involving both an attorney and a real estate agent in the process.

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Topics discussed:

• Understanding the real estate market and its value
• Assisting professionals in real estate transactions
• Strategies for negotiating healthcare real estate

In this episode, Kathy Joling, Sr. Manager of Benefits Strategy at Galaxy Vets, joins Ivan and Ryan to discuss the significance of educating employees about their benefits package. They chat about the importance of employees having a complete understanding of accessible benefits, the value of Employee Assistance Programs (EAPs), and how EAPs contribute to improving work-life balance.

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Bo Burlingham, an author who has written about entrepreneurship and small businesses for many years, joins Ryan Leech and Dr. Ivan Zak to discuss the concept of The Great Game of Business, the employee ownership business model, open book management, and the importance of building great businesses through relationships and shared outcomes.

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Topics discussed:

• The concept of The Great Game of Business
• The role of shared ownership
• The significance of building strong internal and external relationships within an organization

Ryan Leech and Dr. Ivan Zak welcome Dr. Richard Gebhart, a veterinarian and entrepreneur, to discuss the dynamics of veterinary practice consolidation and highlight opportunities for independent practices. Dr. Gebhart shares his journey as a veterinarian-turned-entrepreneur and his experience in selling his practice to VCA in 1986, emphasizing the benefits, challenges, and impact on the team. 

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Topics discussed:

• VCA's first acquisition of a veterinary clinic
• Dynamics of practice consolidation in the veterinary industry
• Maintaining culture and continuity of care in veterinary practices

This week, Ryan Leech and Dr. Ivan Zak discuss the findings of the third annual burnout study in veterinary medicine. They delve into the divergent correlation between financial security and burnout, consider different compensation models, and explore alternative profit-sharing approaches that could benefit the entire veterinary hospital staff. They also highlight a research paper on burnout triggers in veterinary medicine, providing actionable frameworks for reducing burnout.

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Topics discussed:

• Burnout study goals: Insights & Solutions
• Surprising correlation between financial security & burnout
• Alternative profit-sharing for staff benefit

Today's guest, Dr. Alan G. Robinson, shares insights on improving organizational performance through frontline employee ideas, emphasizing the need for thousands of small ideas over one big idea. He highlights the importance of a management approach that fosters creativity, psychological safety, and modern solutions. Additionally, we talk about the design thinking process and how it involves defining problems well, voting, having diverse opinions, and making it a daily part of the job.

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Topics discussed:

• Small ideas from frontline employees drive performance and innovation
• The design thinking process in innovation and problem-solving
• Management transformation for creativity

In this episode, Dr. Katie Rohrig from Danville Family Vet shares her experience working in the veterinary medicine industry and her approach to managing burnout. 

The discussion highlights the six triggers of burnout and how they apply to the veterinary domain. Dr. Rohrig also talks about challenges the industry faces, including client management and communication, and insufficient rewards for staff. 

Donate: Official account of the Armed Forces of Ukraine: https://bit.ly/3NvODNm

Topics discussed:

• Dr. Rohrig's experience at Danville Family Vet
• Approaches to managing burnout in veterinary medicine, including prioritizing joy, enjoying work, and more
• Addressing challenges in client communication