2nd Street Animal Hospital
When Dr. Michael Weiss opened 2nd Street Animal Hospital back in 2018, he never imagined he would partner with a corporation just four years later. The rapid growth he experienced in his state-of-the art hospital in the Northern Liberties neighborhood of Philadelphia required assistance to help Dr. Weiss meet his ultimate goal of growing 2nd Street to a six doctor hospital. Dr. Weiss was very firm on upholding his hospital’s culture, but he also wanted to provide his wonderful staff with further opportunity to develop their skills and have upward mobility in their future careers in veterinary medicine. With the multitude of corporations in the market today, Dr. Weiss looked to the Monarch Team to help him navigate the process of finding the perfect partner for both him and his team. After over twenty meetings and 16 offers to compare, Monarch and Dr. Weiss narrowed the search down to a mid-sized joint venture partnership group with an incredible recruiting team who would support 2nd Street Animal Hospital on all levels while sustaining its current culture. We are honored to have worked with Dr. Weiss and look forward to hearing updates on the continuous growth of 2nd Street Animal Hospital and it’s team!
Saugerties Animal Hospital
Dr. Howard Rothstein was looking for the perfect transition for his practice after 42 years of ownership. His biggest concern was his employees as many of them had worked for him since they were kids. Monarch worked with Dr. Rothstein in a customized corporate sale process designed to identify the buyer who best matched his values and the culture of the practice. This resulted in a great transition for everyone at the hospital and gave Dr. Rothstein comfort, as he transitions into the next stage of his professional life.
At Home Veterinary Care
The husband and wife team of Dr. John and Ellen Flowers built this great practice in Maine from the ground up. After working hard for many years, they wanted to divest their interests in ownership and spend more time enjoying their personal life and their family. Their young age prevented them from retiring completely and made them question whether it was the right time to sell. Monarch developed a retirement plan for them and negotiated a selling price with a corporate buyer far and above the owners’ expectations. After the sale, John and Ellen enjoy spending time in their second home in Florida and have more time to enjoy the outdoors with their family.
Green Mountain Animal Hospital
When multiple associates form a group to buy a practice it can be a recipe for disaster. Each partner must agree to follow the set plan and then agree to employment agreements, leases and an operating agreement with the other partners, while keeping their own interests in mind. Monarch helped this group of associates navigate through the minefield of buying their practice and realize their dreams of practice ownership.
Back Cove Animal Hospital
Husband and wife team Matt and Nicole Fortin originally hired Monarch to help them buy a practice for sale in northern Vermont. After negotiations with the listing broker stalled, Monarch recommended to “pull the plug” on this venture. The team continued to pursue several practice purchases in Maine but in the end, it was decided that a start-up was the way to go. Monarch and the Fortins worked together to plan and design a start-up in a leasehold in Portland Maine. The new hospital hit the ground running and in its second year it has grown into a three-doctor hospital. This adventure proved the point that purchasing a veterinary hospital is not a race, but a marathon, and with patience and persistence, your dreams of success can come true!
Mount Airy Veterinary Associates
A health scare caused the husband and wife team of Alan and Amy Stader to rethink their work/life balance and consider backing away from ownership. Although too young to retire, they wanted to focus more on practicing veterinary medicine and spending their free time together in Arizona. Monarch focused their marketing approach on the practice’s opportunity for growth and received a list of offers from corporate buyers including a local group that the owners were already familiar with. Monarch’s final negotiations with the local group gave the Staders enough of a return to enjoy their lives as veterinarians again and enjoy their personal time in Arizona.
Rowley Animal Hospital
When Monarch agreed to represent and sell this one-doctor practice, there was the realization that the value of the Real Estate far outweighed the value of the practice itself. Taking on the challenge, Monarch tracked down a previous associate who had relocated to Florida but still had ties with the northeast. The subsequent tale of helping this associate through the buying process involved a wood burning stove, some donkeys, a pig in a trailer and a whole lot of patience and persistence. The story also proves that selling a one-doctor practice is more than listing it in a few journals and a website and hoping for the best.
Sleepy Hollow Animal Hospital
Veterinarian Peter Romano had his eyes set on Westchester County in New York as his dream place to buy his own practice. Unfortunately, practices rarely came up for sale in this area and when they did, they often sold for a premium. Dr. Romano hired Monarch to guide him through the buying practice and answer the question: How much is too much to pay for a practice? Once the price was negotiated for the purchase of his dream practice, Monarch helped with the questions: What happens if the seller doesn’t own the building? Who pays for outstanding equipment leases? Do we announce to the clients that the practice was sold? There can be more questions than answers in the process of buying a practice and Monarch was there to help.
West End Veterinary Office
After over 35 years of veterinary practice, Dr. Don Factor was not even considering retiring. He was the quintessential veterinarian and enjoyed practicing his craft. Clients came from many miles away to take advantage of his expertise on exotic animals. He did admit that maybe it was time to consider the transition of ownership of his practice. Monarch helped Dr. Factor develop a plan for this transition and with a new associate on board, marketed this practice as one with high growth potential. Monarch negotiated a high value but more importantly, helped Dr. Factor through the emotional process of transitioning his practice, his employees and his clients. These, after all, are a veterinarian’s most prized assets.
Greenfield Animal Hospital
When Dr Ashley Serfis was offered the chance to buy a multi-doctor practice and the real estate from the owner, she reached out to Monarch for help. With a combination of owner and bank financing, Monarch was able to secure the purchase of Dr. Serfis's dream practice. Ashley closed on the deal a month before her baby was born, and proved that you can be a great veterinarian, a super-mom and a practice owner, all at the same time!