Cutting Through The Corporate Clutter

Like most industries, the veterinary industry is becoming more and more corporatised. We often refer to ourselves as ‘Independent’ and ‘Locally Owned’. But what does it actually mean to be an ‘Independently owned vet’, and why do we believe it is important to know the difference?

What Is A Veterinary Corporation?

A veterinary clinic can sell all or part of its business to a corporation. Following the transfer of ownership, a clinic might adopt the corporate brand, but many continue to operate under their original name, which can make it difficult for clients to detect the change.

These corporations acquire and operate multiple veterinary clinics and veterinary hospitals. They can be publicly traded companies, private equity firms, or subsidiaries of even larger global conglomerates. For example, an Australian veterinary clinic could be part of a massive international corporation that also owns well-known brands like Airbnb, Uber, and Burger King.

In Australia, five major corporations dominate the veterinary market: Greencross, VetPartners, CVS, Apiam Vets, and Vets Central. Some of these companies are valued at an estimated $3.5 billion AUD.

This trend of corporatisation also extends to pet stores. Major chains like Pet Stock and Pet Barn are owned by international corporations and a major supermarket chain.

Why Are We Proud To Be Independent?

Paws at Prospect Vet is pleased to be part of a diminishing list of independently owned veterinary practices in Australia and worldwide. What being locally owned means for us is:

• We are a South Australian company with South Australian staff
• We only pay the wages of staff who work inside our building
• Our tax dollars remain local
• Our clinic’s profits are only spent on improving our clinic. We invest back into our business with staff training, purchasing new equipment, and improving services. We can also make such purchases without seeking approval from the “higher-ups”
• We adhere to our own protocols and procedures, which are frequently updated and improved as decided by our team
• We offer independent, unbiased advice and care, with no conflict of interest
• Our veterinarians don’t run on KPI’s or performance targets, meaning they aren’t pressured to “up-sell” services and products to meet financial targets. Any advice given by our veterinarians is true to their beliefs
• Our veterinarians can provide care and treatment plans using their skills and knowledge based on individual pet needs, without being constrained by corporate protocols or pressures
• We determine our appointment schedule, appointment times and break times
• We can order any medication or pharmaceutical brand that we want, without being restricted by corporate contracts
• We aren’t owned by a corporation that also owns veterinary clinics, pet shops, online pharmacies and pet insurance
• We are not owned by a conglomerate that also owns yoghurt, fitness gyms, transport companies, airline companies, major supermarket chains, technology companies, fast-food restaurants, major department stores, music streaming services, or ride-sharing companies
• Being independent also means that we get to decide what our costs are. You can learn more here: Why Are Vets Expensive?

Want To Find Out If A Clinic Is Corporate Owned?

Here are some easy ways to find out if a veterinary clinic is owned by a corporation:

• Ask them directly
• Some corporate-owned clinics are easy to spot as they rebrand with a new name
• Search on their website for trading names or references to a corporation. Some will disclose this information, but not others
• Search the corporation’s websites for listings of veterinary clinics they own. Not every corporation displays its network publicly

Please note that having multiple vet practices does not necessarily mean they are part of a corporation. Some veterinary clinics open multiple locations, but they remain independently owned franchises.