1 Aug 2021
Geoff Potts had worked at the Alder practice in Liverpool for more than 22 years when the practice joined Medivet in 2015. Here, in this VBJ Partnerships Insight, he outlines the benefits this decision has brought, not just to him, but to the 24-hour hospital’s patients and his dedicated veterinary team…
Medivet 24-hour Alder branch partner and veterinary surgeon Geoff Potts.
Having been in a partnership with a colleague at Alder and a branch practice for 22 years, we decided to look at the options available to us regarding the sale of the practice. We examined the alternatives being offered by the various veterinary groups.
Medivet immediately stood out, because we were already operating in a way that fitted perfectly with its “hub-and-spoke” model, in which a 24-hour hospital with major surgery facilities serves a number of local smaller branch practices.
Perhaps even more important was the fact that Medivet was the only one to offer the branch partnership model. As I had already been a 50-50% partner for many years, I felt comfortable with this model, particularly in a business that I knew inside out, so it was important to me to retain partnership and to be paid from the profits of the business, rather than to receive a salary.
The pre-sales negotiations were handled mainly face to face. Of course, some hurdles needed to be overcome – you’d expect this in any sale process – for instance, relating to leases on equipment, but, in the end, we were both happy with the deal. Medivet essentially bought the hospital and the branch practice, and I then bought back in at 50% to become branch partner at the Alder hospital. One tip I’d pass on to any colleagues considering selling their practice is not to underestimate the amount of paperwork it involves. Collating it all is time-consuming, so it’s worth starting early to get as much of it in place as you can.
Once Alder had been integrated into Medivet, we started to see some real changes – the most obvious being a major refurbishment project that lasted 12 months. The hospital had been purpose-built in 1964 as a mixed practice. It had, of course, evolved since then, but no major work had been done since the early 1990s. The refurbishment was total. Every part of the building was upgraded and brought into the 21st century. The installation of a CT scanner completed the project. Medivet brought a level of experience, expertise and knowledge to the refurbishment that I wouldn’t have had access to if I’d done it alone. We are all delighted with the results.
A few years on, for me personally, the most important change has been that I am now able to concentrate on my clinical work, which is what I most enjoy. I’d got to the stage where I was spending my day off doing admin and actually undertaking CPD on admin-related topics, rather than developing my clinical knowledge. Now, I have my personal time back and I am also enjoying my clinical work and finding it more satisfying, because of the much wider range of diagnostics and treatments we now offer.
Meanwhile, the other critical aspects of the business – for example, finance, recruitment and marketing – are also being run by professionals. Vets of my generation may have a tendency to think they can do everything – but this isn’t the case, and all aspects of the business should be professionally run.
We have seen changes in the team since joining Medivet, but this happens in any practice and the staff we have now are fantastic, bringing new skills and experience to Alder. Everything we do is a team effort and we don’t struggle to recruit because of the facilities, equipment and resources we are able to offer to ambitious vets and vet nurses. The cases we handle are also more complex and we can do so much more in-house, so we refer fewer of our patients. Our staff enjoy being able to deliver a very high standard of care while also seeing opportunities within the group, when the time is right – perhaps a move into regional management if that’s what starts to interest them.
Of course, the past 18 months have been unlike any other and, during the pandemic, having Medivet’s support team behind us has been a huge relief. The team has given us advice, recommended appropriate protocols and processes and supported us in implementing them. There’s no doubt that it’s been hard work and painful at times – but it’s also been interesting. Some of the initiatives we have introduced, for instance, bringing patients from the car straight into the consulting room, have worked really well. It’s what organisations like Fear Free advocate and we’ve found that patients are in general much calmer when we do this. We may adopt the practice long term. For all the misery, a few positive elements may come out of COVID-19’s legacy.
In my experience, branch partnership with Medivet is a true partnership.
You own 50% of the business and are fully involved in its development, while the group provides background support. In my case, I effectively went into business with a new partner in Medivet. It brought something new to the partnership and has helped our team to bring Alder into the 21st century.
The refurbishment has enabled us to improve patient care, offer a more attractive working environment to our staff and to grow the business – it’s like a jigsaw coming together. Any partnership has its ups and downs, but, overall, the future is looking very positive.
We are very busy and only likely to become more so as numbers of companion animals continue to increase post-pandemic – and as owners demand ever-higher standards of care.
In joining forces with Medivet I feel that we have created something at Alder that is larger than the sum of its parts: I couldn’t be more proud of my team and the service we are now offering to pet owners and their animals in Liverpool.
If you would like a confidential chat, please contact the team at Medivet – John Smithers MRCVS on 07967 819296, [email protected] or Ben Hanning MRCVS on 07535 971593, [email protected]
