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Provident Healthcare Partners Provident Healthcare Partners

Q4 2023 Veterinary Services Update

Provident Healthcare Partners
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Q4 2023 Veterinary Services Update

Despite the precipitous drop in valuation multiples the veterinary services market has observed since the highs of 2021 / Q1 2022, M&A activity has persisted as a considerable number of transactions were executed in Q4. Despite not offering high-teens EBITDA multiples as the corporate consolidators were previously putting forth, many platforms have found success deploying a transaction structure that creates alignment and shareholder incentivization through retained equity that creates upside in the future growth of the combined platform.

This deal structure has been often utilized across other multi-site healthcare models with a strong track record of success. Practice owners and operators are given an opportunity to realize a significant liquidity event and capture the benefits of a partnership with a large organization, without forgoing the upside from future performance. Provident expects this model to continue as M&A activity accelerates into 2024.

To print and download the full Veterinary Services Update report, please click below…

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