Medivet boss hails ‘new direction’ with practice ownership model

A major veterinary firm’s UK boss has claimed its new practice ownership model can help to put clinicians back at the heart of the communities they serve.

Medivet said it is on course to meet the target of having all its UK practices co-owned and led by what it calls “partners” by the start of next year.

The switch is being made amid enduring concerns about the sector’s public standing linked to both the Competition and Markets Authority investigation and related media coverage.

Positive

Medivet’s UK chief executive, Ben Jacklin, believes his company’s model offers both a positive message to clients and the chance of a “new direction” for the sector.

He said: “The combination of a vet who owns equity locally, and has autonomy locally, puts that vet right back into their community, so you haven’t got partners being told how to run their clinics.

“We’ve got amazing, capable clinicians who run their clinics for their communities, for their pets, as it ever was. Yes, vets will share in the success, but they’re also owning and running the clinic locally for those pets and those clients.

“It’s a really important time for us to get the message out there that, in a post-CMA world, we’re already transparent and your vet owns your local vet clinic. I think it’s critical.”

Medivet structure

Amid the controversy over its broader portrayal of the sector’s present issues, Monday’s (12 January) BBC Panorama documentary highlighted differences between Medivet’s structure and those of other large veterinary groups.

Although the new ownership plan, originally unveiled in November, will still involve individual practices operating under a national clinical governance, the company argued it will give local leaders greater control.

Mr Jacklin said there was a “really healthy pipeline” of interest in the model, which he believes could also pave the way for broader change within the sector.

He added: “We’ve had people start this week from a number of other corporates who have run really successful practices as a clinical director, but now want to share in that reward.

“I think other groups may have to think about their model, because we are finding that those incredibly motivated, driven, capable leaders are now being given an opportunity to benefit significantly and financially, as well as having more autonomy from being a being a partner.”

Acquisitions

Mr Jacklin, who joined Medivet last September having previously held a senior role with the CVS Group, did not rule out the possibility of the company pursuing some practice acquisitions if suitable options were available once the CMA process is completed.

But he insisted it was not a priority, adding: “My focus is [that] we’ve got an amazing opportunity to become this partnership business that leads the profession in a new direction.”