Selling your veterinary practice to an associate or another veterinarian

This guide is general information about selling a veterinary practice to another veterinarian, not legal, tax or lending advice. The SBA rules are from SOP 50 10 8.1, effective October 1, 2026, which applies to small businesses generally and never mentions veterinary practices; state practice acts differ. Confirm how they apply to your sale with your attorney, your CPA and the buyer's lender.

Which veterinarians buy practices?

Your own associate, or a veterinarian from outside the practice: an associate or relief veterinarian elsewhere, or an owner adding a location. VetFirm Sales is not one of them and does not buy practices. Associates are the largest group of veterinarians in private practice: in the AVMA's 2024 Census of Veterinarians, 57.4% were associates and 23.8% were practice owners.

Wanting to own is not the same as being able to pay. In AVMA's 2022 Economic State of the Veterinary Profession report, 35% of veterinarians who did not own a practice said they wanted to buy or co-own one, including 36% of associates. Among those who did not, the leading reasons were no interest in the management side of a practice (43%) and work-life balance (30%).

According to Simmons & Associates, an appraisal and brokerage firm, the practices that sell on the open market to private veterinarian buyers generally gross $800,000 to $1.5 million and have one to two full-time-equivalent (FTE) veterinarians (mid-2024). If you employ an associate, they may be your most natural buyer: they already know your clients, your technicians and your appointment book. An outside veterinarian buyer can take years to find; how early to plan covers why.

Small equine practices

Equine practice consultant Amy L. Grice, VMD, MBA, wrote in EquiManagement in January 2026 that selling to an associate is still the most common path for small equine practices. For a retiring solo practitioner, she describes selling the client list to another practice for a declining percentage, over three years, of what that practice earns from your former clients. She says the percentages are negotiable and typically based on the EBITDA you have earned; her example is 15%, 10% and 5% of your average EBITDA. If the buying practice finances with a 7(a) loan, ask its lender how it treats payments tied to future revenue, because SBA prohibits seller earn-outs. Moving client records to another practice may be subject to your state's record and confidentiality rules, so have counsel check the transfer.

How much will a veterinarian buyer pay?

In the ranges published by firms that advise on veterinary sales, multiples for sales to private veterinarian buyers run from 4x to 7x earnings and sit below those for corporate buyers. Mandelbaum Barrett, a law firm, ties its private range to the financing available to private buyers.

Simmons' Doyle Watson, DVM, writes that a price in the 4.3x to 5.6x range includes the working equipment, a going-concern level of drug and supply inventory, and the goodwill. The same Mandelbaum Barrett presentation put corporate sale multiples at 7x to 12x EBITDA by mid-2024; selling a veterinary practice to a corporate buyer covers how those offers are paid.

Apply any of these ranges to the right number. Simmons recasts the tax returns so the practice pays the owner a fair-market salary for veterinary work and fair rent before profit is counted. A multiple of that profit applied to what you take home, which includes your own pay as a DVM, overstates the value.

Simmons also writes that a well-managed, reasonably profitable practice grossing over $900,000 should appraise and sell for 85% to 105% of gross to a private veterinary buyer, while corporate prices far exceed 100% of gross. On the same page it says there is no general rule of thumb, such as a percentage of gross, and that value follows profit and risk, so a less profitable practice is not covered by that range.

Associates who stay add value

Simmons' appraisers write that buyers pay for income rather than equipment, and that a multi-doctor practice whose associates remain after the sale is worth more than a solo practice whose selling doctor leaves on the day of the sale. A sale to your own associate keeps at least one doctor your clients already know.

If you own the building

In a private sale, Simmons says, a selling veterinarian's real estate is typically sold with the practice. Among owners who answered the AVMA's 2024 Veterinary Practice Owners Survey, 54.9% held the practice in one legal entity and the land and buildings in another. On an SBA loan, owner-occupied real estate is appraised separately and kept out of the business purchase price, and when it is financed in the same loan only the real estate portion may run past 10 years, up to 25.

If you keep the building and lease it to the buyer, Simmons' Doyle Watson put a fair-market return at about 7% to 10% of the property's value under a triple-net, arm's-length lease in April 2024; a local rent study decides it in a real deal.

How does another veterinarian pay for your practice?

Unless they can pay cash, with a loan. Some lenders use SBA's 7(a) program, in which SBA guarantees part of the lender's loan rather than lending the money itself, and others make conventional practice loans on their own terms. Our count of SBA's 7(a) loan-level data (as of June 30, 2026) finds 312 loans that were not cancelled, about $421.4 million in all, approved in fiscal 2025 (October 2024 to September 2025) to businesses coded as veterinary services (NAICS 541940), with a median loan of $618,500. That is our count, not a figure SBA publishes, and it covers every purpose, from startups and equipment to real estate and practice purchases, so it is not a count of practice sales.

What matters most to you is the kind of loan. A 7(a) loan follows SBA's rules on equity, seller notes, earn-outs and your role after closing; a conventional loan follows the lender's own terms. The largest Standard 7(a) loan is $5,000,000, so a hospital priced above what that loan plus the buyer's equity can cover needs other money: a seller note, conventional debt or more cash from the buyer. Ask a veterinarian buyer which kind of loan they plan to use, and the lender's name, in the first serious conversation.

What do SBA 7(a) rules mean for you as the seller?

They decide how much of your price can be borrowed, how you can be paid and whether you can stay. SOP 50 10 8.1 took effect on October 1, 2026, per SBA Information Notice 5000‑880695 (August 14, 2026). It applies to 7(a) applications issued an SBA loan number on or after that date; applications submitted through September 30, 2026 stay under SOP 50 10 8.0. The notice does not say which version governs a file submitted by September 30 but numbered later, so if your buyer's application was already in process, ask the lender. Under SOP 50 10 8, a seller's consulting period was capped at 12 months, not 24.

The price has to appraise

On an SBA deal, the lender requests its own business valuation from an independent, accredited appraiser (ASA, CBA, ABV, CVA or BCA) and may not use one prepared for you or for the buyer. When the business purchase price is $350,000 or less, the lender may value the practice itself, unless there is a close relationship between buyer and seller; if the buyer is your associate, ask the lender whether that counts. Total debt for the purchase, including any seller note not on full standby, cannot exceed that valuation, and any price above it must be covered by equity.

The appraiser works from your numbers, and the lender must check them against your IRS transcripts. The coverage test runs on the practice's EBITDA, on a historical or adjusted basis, and the lender may not rely on projections to meet it, so the third doctor your buyer plans to hire does not count. When the business purchase price is $3 million or more, excluding owner-occupied real estate, the lender in an Initial Acquisition or Business Expansion also needs an independent Quality of Earnings report with a cash proof covering the trailing 12 months and the last two fiscal years, and the report may not be prepared by or for you.

This is where a friendly price can come apart: you and an associate you trust can agree on a number the lender's appraiser will not support.

Your seller note may not pay you for years

A seller note counts toward the buyer's required equity only if it is subordinated to the lender and on full standby, with no principal or interest paid for the term of the 7(a) loan, and such sources can supply no more than half of the required equity. Standby debt may accrue interest, but it waits behind the 7(a) loan. With the business portion of that loan amortizing over up to 10 years, the wait can be long. A note that pays you currently is allowed, but it is debt, not equity, and it counts toward the cap set by the valuation.

A seller note that has been in place and current, not on standby, for at least 36 months after the sale becomes eligible to be refinanced with a 7(a) loan, if the refinancing meets SBA's 10% payment-improvement test and its other conditions. Eligible does not mean anyone will refinance it.

Ask your CPA about tax before you carry a note for a veterinarian buyer. Under IRS Publication 537 (2025), a sale with at least one payment after the year of sale is an installment sale, but depreciation recapture, including section 179 recapture, is reported in full in the year of sale even if no payment arrives that year, and inventory cannot be reported on the installment method. Gain on depreciated equipment is ordinary income up to the depreciation allowed or allowable on it.

Our reading, not the IRS's: if you expensed digital radiography, ultrasound, anesthesia machines or a dental unit, you could owe tax on that recapture for the year of the sale while your note sits on standby. Whether your pharmacy, therapeutic diets and retail stock count as inventory is a question for your CPA.

When the buyer already owns a practice

A veterinarian buying through a practice they already own may qualify as a Business Expansion. The buying practice must have operated for at least two full fiscal years under its current ownership and buy 100% of yours, in the same four-digit NAICS industry group. Veterinary services are NAICS 541940, and SBA's size table lists five other codes under the same first four digits (5419), so the test is broader than another veterinary practice.

The lender may then reduce or eliminate the 10% equity if the buyer has enough liquidity and working capital and did not show negative net worth at its last fiscal year-end, and minimum debt service coverage is 1.15:1 instead of 1.25:1. The buyer and your practice combined must meet SBA's size standards. For veterinary services, the industry standard in 13 CFR 121.201 is $10.0 million in average annual receipts, which measures gross revenue, not profit. A buyer over it may still qualify under SBA's alternative standard: tangible net worth of no more than $20 million and average net income after federal income taxes, excluding carry-over losses, of no more than $6.5 million for the last two full fiscal years, counting affiliates.

A buyer with a green card cannot use a 7(a) loan

Every direct and indirect owner of the borrowing practice and every guarantor SBA requires must be a U.S. citizen or U.S. national whose principal residence is in the United States, and lawful permanent residents are listed as ineligible. The green card bar has applied since March 1, 2026. If your associate holds a green card, ask early whether their lender offers a conventional practice loan, which this SBA rule does not govern.

How does an associate buyout of a veterinary practice work?

If you are the only owner and you sell 100% of your ownership to an associate the practice has employed for at least the 24 months before the loan application, the sale can qualify as an Existing Owner Buyout under SOP 50 10 8.1. In an owner buyout the 10% equity is measured against the purchase price, and the lender may reduce or eliminate it if the borrower has enough liquidity and working capital and its balance sheet did not show negative net worth at the last fiscal year-end. Minimum debt service coverage stays at 1.25:1, and owner buyouts need no Quality of Earnings report. Four details to settle with the lender early:

• The 24 months must be employment. The SOP says “employed” and does not say whether a veterinarian paid as an independent contractor counts. If your likely buyer has worked for you as a relief or contract veterinarian, have them ask the lender before you plan around this path.
• Under 24 months changes the terms. If your associate has been employed for less than 24 months, the sale must meet the Initial Acquisition credit standards, including the 10% minimum equity the lender cannot waive. If you hire an associate with a sale in mind, count the 24 months back from the loan application.
• It is a sale of your ownership interest. The SOP describes a single owner selling their 100% ownership interest; if your associate forms a new company to buy the practice's assets instead, ask the lender which category applies. The IRS generally treats an asset sale as a sale of each asset separately, while selling corporate stock usually produces capital gain or loss, and partnership and LLC interests follow their own rules. Ask your CPA which structure suits you before the associate's lender settles on one.
• Your role afterward is the lender's call. SBA's rule that a seller may not stay on as an employee names Initial Acquisitions and Business Expansions. It does not address an Existing Owner Buyout, so ask the lender how it treats your role after an associate buys you out.

An associate already knows your clients

Under the FDA's federal definition for extralabel drug use, a valid veterinarian-client-patient relationship (VCPR) exists only when the veterinarian has recently seen and is personally acquainted with the animal's keeping and care. That definition ties the relationship to a veterinarian, not to a practice, so an associate who has been examining your patients starts with relationships an outside buyer has to build. What a sale does to existing relationships under your state's practice act is a question for counsel.

Price the buyout from a valuation, not a formula

Since Simmons says there is no general rule of thumb for practice value, a buyout agreement needs its own price method. If your associate is the likely buyer, have your attorney put the price method, the timing and who pays for the valuation in writing years before you plan to stop practicing. Expect the associate's lender to order its own valuation regardless.

How does an associate buy-in work?

A buy-in lets an associate become a co-owner while you keep practicing, and lets them take on the management side of the hospital alongside you before they own all of it. A 7(a) loan can fund a partial sale in which at least one original owner stays and personally guarantees the loan, and you may stay on as an owner or employee. It carries conditions:

• If you keep less than 20%, you must give a full guaranty of the loan for at least two years after final disbursement, and you may be released only after the loan has been current for 12 consecutive months.
• Every owner of 20% or more after the sale gives an unlimited full guaranty, and every new owner, even at 1%, must be a co-borrower.
• A buyer not employed by the practice for 24 months may acquire less than 50% and cannot become the largest shareholder.
• A multi-step partial change through a new holding company owned by old and new owners is not eligible.

A buy-in deserves a close look if your practice grosses under $700,000, is rural, or treats large or mixed animals. Simmons, writing in mid-2024, called salability fragile for those practices and described associate buy-ins and mergers as exits for them; fragile is not unsellable.

Who may hold shares in a veterinary practice is set by state law, and SBA asks the lender to document that a licensed business's ownership meets state requirements. In Texas, for example, an entity not owned entirely by Texas-licensed veterinarians may not engage in veterinary medicine. Who can own a veterinary practice covers the states we checked.

Plan for death or disability

A partner who has bought in is the natural buyer if something happens to you, and in some states your family would face a deadline. In Texas, when a veterinarian dies, the practice and its patient records pass to the heirs, who must dispose of them by the second anniversary of the death. A Missouri board rule gives an unlicensed spouse or executor one year, extendable by petition, to sell or wind down an individually owned practice, with a Missouri-licensed veterinarian in charge. Have your attorney write the purchase terms into a buy-sell agreement at the buy-in; the ownership guide covers the estate rules in more states.

Can you keep practicing after you sell?

It depends on how the buyer pays. If an outside veterinarian buys 100% with a 7(a) loan, as an Initial Acquisition or a Business Expansion, you may not stay on as an officer, director, stockholder or employee; the practice may hire you as a consultant for up to 24 months in total, including extensions. The SOP does not say whether a consultant may treat patients, so settle that with the buyer's lender and your attorney before you tell clients you are staying. In a partial sale you may stay as an owner or employee. SBA's limits do not reach a buyer who pays with a conventional loan.

In an asset sale, if the buyer also signs a non-compete, lease, employment or similar agreement with you, IRS Form 8594, which you and the buyer both file, asks about it and the most it can pay you.

Non-competes

Expect a veterinarian buyer to ask you not to practice nearby. The FTC's nationwide non-compete rule never took effect: a federal court stopped it in August 2024, and the FTC removed it from the Code of Federal Regulations on February 12, 2026. Covenants in a practice sale remain subject to state law, and the FTC can still bring individual cases.

California voids non-competes except as its statute allows, and its section 16601 lets a seller of a business's goodwill, or an owner who sells all of their ownership interest, agree not to compete within the area where the business was carried on. In a December 2023 unpublished decision, a California Court of Appeal upheld a preliminary injunction barring a veterinarian from practicing next door to the clinic she and her husband had sold to a national veterinary hospital company. She had kept working at the clinic after the sale, and her covenant ran until the later of five years from the agreement or five years from her last day there. The decision cannot be cited as precedent in California courts, but it shows how a covenant can be written to run from your last day of work.

Two states write rules for veterinarians in particular. Maryland, in a law in effect since June 1, 2024, voids non-compete clauses in employment contracts with licensed veterinarians and veterinary technicians; the statute does not mention covenants in a practice sale. Utah's S.B. 111 voids non-competes a veterinarian enters into with a business on or after May 6, 2026 unless the veterinarian owns at least 5% of it, and voids nonsolicitation agreements with veterinarians from that date. Utah's sale-of-business exception does not name veterinarian non-competes, and the nonsolicitation ban has no sale exception on its face. If you stay on as an employed associate, you may sign one covenant in the sale and another in your employment agreement; have counsel in your state review both.

What will the buyer's lender ask for?

Proof that the practice's past earnings carry the new debt, and a buyer who qualifies. On a 7(a) loan, expect these:

• Coverage of 1.25 to 1. The practice's EBITDA must be at least 1.25 times the combined debt payments after the sale (1.15 in a Business Expansion), measured on the last fiscal year-end or an average of the last two. Adjustments for owner pay must be backed by a global cash flow analysis showing at least 1 to 1.
• Equity from the buyer. In an outright purchase, at least 10% of total project cost, which counts closing costs and working capital as well as your price.
• Signatures. An individual buying 100% in an outright purchase signs the note with the practice as a co-borrower; otherwise every owner of 20% or more after the sale gives an unlimited guaranty.

The buyer also pays for the loan. For 7(a) loans approved from October 1, 2026 through September 30, 2027 with a maturity over 12 months, SBA's upfront guaranty fee on a loan of $700,001 to $5,000,000 is 3.5% of the guaranteed portion up to $1 million plus 3.75% above that, and it is 0% on loans of $700,000 or less to businesses in a rural area; the lender may pass it to the borrower. SBA caps the variable rate on a 7(a) loan above $350,000 at Prime, or SBA's optional peg rate, plus 3%; the lender sets the actual rate under that ceiling.

What a veterinarian buyer will ask you

Expect questions about revenue and production by doctor, active clients, the cases you refer to emergency and specialty hospitals, and your fee schedule. When you give an active client count, say how you define one. Writing in dvm360 in 2015, the Veterinary Hospital Managers Association's executive director called a transaction in the last 12 months the industry standard, but said most of the practice managers in a small VHMA survey had extended the window to 18 months or longer.

How do the DEA registration and premises permit move to the buyer?

Not automatically. The DEA steps start at least 14 days before the transfer, and in some states a premises permit cannot be transferred at all. Settle receivables and doctor coverage at the same time.

• DEA registration. Your registration cannot be assigned to the buyer without DEA's written consent. If you transfer the controlled-substance side of the practice, DEA rules call for written notice to the local Special Agent in Charge at least 14 days before the transfer and a complete inventory on the transfer day, which serves as your final inventory and the buyer's initial one. The buyer may not handle controlled substances until DEA grants the buyer's own registration, so that application should go in early.
• Premises permit. In California, for example, a premises registration is nontransferable, and the holder must notify the Veterinary Medical Board within 30 days after a change of owner. The ownership guide covers other states.
• Receivables. Ambulatory, equine and mixed practices that bill clients should settle receivables in the agreement. Writing in 2021, an attorney at Mandelbaum Barrett listed the most common options: you keep them and the buyer collects as a courtesy or for a fee, you collect and keep them, or the buyer pays a negotiated amount and collects them.
• Doctor coverage. If the associate who buys from you was carrying a full schedule and you step back, the practice is a doctor short. In a 2022 AAHA survey, taken in a tight hiring market, filling a vacant associate veterinarian role took more than 15 months on average.

Medical records, X-ray registrations and the other transfer filings are in the veterinary practice due diligence checklist.

What should you prepare before you talk to a veterinarian buyer?

The documents an appraiser and a lender will test, in the form they will test them.

• Tax returns and financial statements that agree with each other, since the lender checks the appraiser's inputs against your IRS transcripts.
• A recast profit and loss that pays a fair-market salary for your own veterinary work and fair rent, the basis Simmons uses for value.
• Practice-management software reports: revenue and production by DVM, new clients by month and active clients under a stated definition.
• A receivables aging report, if you bill clients.
• Your lease, or the details an appraiser needs for the building if you own it, since SBA has real estate appraised separately.
• Your DEA registration and controlled-substance inventories and records, which you must keep available for at least two years.
• An equipment list with age and condition. Buyers pay for income, so equipment beyond what earns revenue adds little.

To see what your practice could sell for, request a free, confidential valuation. It is not the independent valuation an SBA lender must order, and it is not a price to write into a buy-in agreement. VetFirm Sales does not buy practices. Asking for a valuation does not list your practice, and what you send is not shared with another veterinarian without your permission.

How early should you plan a sale to an associate?

Years ahead, for three reasons.

• An outside buyer can take years to find. AAHA's Trends magazine reported in July 2024 that finding a practitioner-buyer other than an associate can take several years, and that for one- and two-doctor practices it can take years, depending on location, before “you find someone who's even willing to kick the tires,” according to Win Lippincott of Ackerman Group. “It's incredibly reliant on geography,” he said.
• The 24-month clock. Your associate needs 24 months of employment before the loan application for the Existing Owner Buyout terms.
• Your track record. The coverage test runs on your last fiscal year or the average of your last two, not on plans.

How to sell a veterinary practice lays out the full sequence, and how much a veterinary practice is worth covers sale prices and how buyers value a practice.

Sources

All sources accessed October 27, 2026.

1. U.S. Small Business Administration, SOP 50 10 8.1, Lender and Development Company Loan Programs with Technical Policy Updates, September 25, 2026
2. U.S. Small Business Administration, SBA Information Notice 5000‑880695, Issuance of SOP 50 10 8.1, August 14, 2026
3. American Veterinary Medical Association, Economic State of the Veterinary Profession 2025 (p. 18), January 2025
4. American Veterinary Medical Association, 2022 AVMA Report on the Economic State of the Veterinary Profession, October 2022
5. Simmons & Associates, Four Methods to Sell Your Veterinary Practice, Published June 27, 2024
6. EquiManagement, Business Briefs: Creating a Succession Plan for Your Equine Practice, January 14, 2026
7. Mandelbaum Barrett PC, Peter Tanella, Mandelbaum Barrett PC: presentation slides ('Current Trends in the Market – 2024'), hosted by GeniusVets
8. Simmons & Associates, How can the “perfect” veterinary practice have little to no value? April 26, 2024
9. Simmons & Associates, Unraveling the Mystery of Practice Appraisals, Published March 19, 2024
10. Simmons & Associates, Veterinary Practice Financial Fitness, Published February 20, 2024
11. Simmons & Associates, How to Buy a Veterinary Practice, Published October 18, 2021
12. U.S. Small Business Administration, 7(a) & 504 FOIA (file FOIA_7a_FY2020_Present_asof_260630.csv), Data as of June 30, 2026
13. Internal Revenue Service, Publication 537 (2025), Installment Sales, 2025 edition
14. Internal Revenue Service, Publication 544 (2025), Sales and Other Dispositions of Assets, 2025 edition
15. Internal Revenue Service, Instructions for Form 8594 (Rev. November 2021), revised 11/2021
16. U.S. Small Business Administration, Table of Small Business Size Standards Matched to North American Industry Classification System Codes (effective March 17, 2023)
17. Internal Revenue Service, Sale of a business, February 10, 2026
18. Office of the Federal Register / National Archives, 21 CFR 530.3 Definitions (Extralabel Drug Use in Animals), eCFR current as of October 23, 2026
19. Texas Legislative Council, Texas Occupations Code § 801.506, Prohibited practices relating to certain entities, current text as of access
20. Missouri Secretary of State, 20 CSR 2270‑5.041, Temporary Continuance of Veterinary Practice Upon Death of Owner, Code update dated 1/30/20
21. Federal Trade Commission, Noncompete Rule (rule summary page)
22. Federal Trade Commission, Revision of the Negative Option Rule, Withdrawal of the CARS Rule, Removal of the Non-Compete Rule To Conform These Rules to Federal Court Decisions (FR Doc. 2026‑02866), February 12, 2026
23. Federal Trade Commission, Federal Trade Commission Files to Accede to Vacatur of Non-Compete Clause Rule, September 5, 2025
24. California Legislative Counsel, California Business and Professions Code section 16600, amended by Stats. 2023, Ch. 828 (AB 1076), effective January 1, 2024
25. California Legislative Counsel, California Business and Professions Code section 16601, amended by Stats. 2006, Ch. 495, effective January 1, 2007
26. California Court of Appeal, VCA Animal Hospitals, Inc. v. Hampel, No. D081424 (Cal. Ct. App., 4th Dist., Div. 1, filed Dec. 22, 2023), December 22, 2023
27. Maryland General Assembly, Maryland Code, Labor and Employment section 3‑716, Veterinary provisions added by 2024 Md. Laws Ch. 378 (HB 1388), effective June 1, 2024
28. Utah State Legislature, S.B. 111 Veterinary Post-employment Amendments, Enrolled Copy (2026 General Session)
29. U.S. Small Business Administration, SBA Information Notice 5000‑881797, 7(a) Fees Effective October 1, 2026 for Fiscal Year 2027 and 90-Day Rule Clarification, September 3, 2026
30. dvm360, Is your veterinary client retention a sad country song? October 30, 2015
31. U.S. Drug Enforcement Administration, 21 CFR 1301.52, Termination of registration; transfer of registration; distribution upon discontinuance of business, current eCFR text as of October 27, 2026
32. Office of the Federal Register / National Archives, 21 CFR 1301.13(a) Application for registration; time for application; expiration date; registration for independent activities; application forms, fees, contents and signatures; coincident activities, eCFR current as of October 23, 2026
33. California Veterinary Medical Board, California Veterinary Medicine Practice Act, 2026 Edition: Bus. & Prof. Code § 4853(f)
34. Today's Veterinary Business, 8 Mistakes You'll Regret (Legal Lingo column), June 1, 2021
35. American Animal Hospital Association, Staff Retention: Stay, Please (Trends magazine), January 2024
36. Office of the Federal Register / National Archives, 21 CFR 1304.04(a) Maintenance of records and inventories, eCFR current as of October 23, 2026
37. American Animal Hospital Association, Practice Ownership Exit (and Entry) Strategies (AAHA Trends magazine), July 1, 2024