As vet giants buy up more clinics, these London vets are keeping their independence

As a growing number of vet clinics across the country are being bought up by international corporations, some independently-owned clinics in London are choosing to stay private — despite offers to buy them out. 

"I have zero interest in selling my practice to anybody private or corporate," said Trina Hancock, a veterinarian who owns Sana Adelaide Animal Hospital in London. 

"I'm very hands on with my clients," Hancock said. "I've curated a really close client list and I just don't have the interest in handing off my clients to be cared for by another veterinarian or corporation."

A CBC Marketplace investigation revealed six corporations own more than half of emergency and specialty hospitals along with more than 20 per cent of all clinics — and it's driving up the cost of pet care across the country. Before 2010, almost all vet clinics in Canada were owned by veterinarians. 

Marketplace found the three biggest companies are VetStrategy, NVA Canada and VCA Canada, who own more than 600 Canadian clinics combined.

Alec Martin, the medical director at Neighbourhood Pet Clinic in London, said he has been approached about selling his clinic by VCA Canada, VetCor and VetCare over the years.

"The conversations don't really get much further than that because we're not ready to sell," said Martin, who was one of the founders of the first Neighbourhood Pet Clinic location in 2008. "We're still enjoying what we do and enjoying our independence."

Martin said corporations have the financial resources to put in high bids on veterinary practices, but that means giving up a lot of control.

"You're just working for them. You really don't have any say," Martin said. "Your HR policies or scheduling, what equipment you're going to purchase, any of that stuff falls out of your wheelhouse to somebody else who probably sits in an office somewhere."

VetStrategy said their veterinarians abide by the Canadian Veterinary Medical Association's "code of ethics, which enshrines the concept of compassionate and impartial care" and that their veterinarians have the "clinical freedom" to decide how to address "an animal's medical needs and an owner's financial position."

Hancock, whose clinic opened in 2020, said she has received emails and letter mail offering to appraise her clinic if she is interested in selling. She said she doesn't remember which companies sent her flyers.

"I honestly usually just recycle it as soon as I see it," Hancock said.

Increasing pet care costs

She said although veterinarians often stay at their practice for a "transition period" after selling, the buying corporation can still make changes to the clinic's medical protocol. 

"I like the autonomy of being able to be flexible with the treatment plans of clients," said Hancock, adding that she often considers pet owners' budgets before deciding an avenue for treatment. 

If she were to sell her clinic, Hancock said she would also have to give up control over her prices. She said that while there is a suggested fee guide for veterinary services in Ontario, independent owners can choose to charge above or below those prices.

Both she and Martin said the cost of pet care has gone up in recent years, which they said can be credited to factors including increased wages for veterinarians, better quality service (meaning more expensive equipment and medication) and general inflation. 

Both said their practices have welcomed new clients from corporate-owned clinics, though people's reasons for the switch can vary.

"I guess the general consensus is that they feel that it's a less personalized experience at a clinic like that," said Hancock. "Some also expressed concerns about the cost and that they just felt a shift in their practice when the original owner had sold it."

Selling an 'exit strategy'

Martin and Hancock are both self-taught business people. When they went to veterinary school, they said they were taught about veterinary medicine but not how to open a practice. 

Hancock said she's noticed fewer veterinary graduates are opening their own clinics in recent years.

"There is more of a reluctance nowadays for new veterinarians taking that leap into practice ownership, just because of all the added responsibilities that come along with it," said Hancock, adding that she is a manager, accountant, HR person and veterinarian at her own clinic. 

Martin said his love for business is why he wants to stay independent: "Sometimes it's frustrating, but by and large it's still very rewarding, very satisfying, very entrepreneurial," he said. 

He said years ago, retiring clinic owners would often hand over the reins to a family member, up-and-coming associate or a neighbouring pet clinic, but selling to corporations is a newer avenue. Martin said he is open to selling when he eventually retires.

"All options are on the table," he said. "You have to be realistic about the opportunities that exist to sell."

Meanwhile, Hancock said she has no interest in ever selling her business to a corporation. 

"Unless I had the right person who wanted to take over my practice, I think truthfully I would be more likely to just close the doors," said Hancock.