Animal Center CH720 – Southeast Kansas

This general mixed animal veterinary practice located in southeast Kansas has been serving its community since two Army classmates opened their doors in 1958. They serve all types of animals with approximately 65% of services dedicated to small animals and the other 35% going to large animals mainly consisting of beef cow, some dairy, and a few pigs, horses, goats and sheep. This veterinary practice strives to offer a broad range of general practice, medical, diagnostic, dental, surgical, preventative and therapeutic services to all animals, as well as emergency care, weekend, and night services. They also have a well-stocked pharmacy and also offer a range of retail products and therapeutic diet supplements. Specific services include; routine visits, wellness exams, vaccinations, laser therapy, fertility testing, blood tests / chemistries, snaptests, coagulation and urinalysis tests, soft-tissue and orthopedic surgeries, birth and caesarian surgery, routine dentistry, some optometry / ophthalmic services, digital radiology services with x-ray and ultra-sound. With quality always the top priority, this practice prides itself on the fact that they treat each client with respect and do their best to help them. This philosophy has earned both partners numerous accolades in the industry and are well known and respected in the wider veterinary community. Their long standing reputation, broad range of services and availability has afforded them near 100% repeat business and they often receive referrals from other practitioners in the area for specialized services like orthopedics, ophthalmology or dentistry. Both owners are nearing retirement and are interested in selling the business within the next year and, at least one of them is willing to stay on, in some capacity, to mentor a new owner and help transition the business. Along with the two owner veterinarians the practice employs another 5 people; 2 associate veterinarians, 1 veterinarian technician, and 2 cross-trained veterinarian/front office assistants. This practice comes well equipped with a large amount of top-end equipment and is housed in two separate facilities – one for companion animals and one for large animals. The large animal building offers heating, a horse stock, silencer hydraulic tilt chute, small pen with an alleyway, tub gate and a head catch for caesarian surgeries. Due to the wide variety of services offered by the clinic, it is equipped with a comprehensive in house lab and surgical unit for small and large animals. Equipment includes amongst others; Idexx lab equipment and software, Scan X digital x-ray film developer, 100 MA x-ray machine, MLS laser, SIUI ultra-sound, Nikon E200 binocular microscope with 4 objectives, centrifuges, a small incubator, dental x-ray machine, Henry Schein high/low speed dental unit and an Engler ultrasound cleaner, Shor-Line small animal hydraulic table, 3 surgical monitors, 2 anesthesia machines (both Sevoflo and Isoflourane), a Doppler blood pressure unit, Medrx fiber optic with camera, a battery powered otoscope, Tonopen, Welch Allen pan optic unit, and a Midmark M11 autoclave for sterilization use. The real-estate and facilities are owned by the business and ideally all assets would transfer with the sale via a separate purchase, lease-to-purchase or lease arrangement. This practice is debt free and is currently grossing over $700K in sales ($725K in 2014). The historical growth pattern of around 3-5% annually has been generated by a stable client base of 4,000 clients, with no client having a significantly large percentage of those gross revenues. The current owners see growth potential in the possibility of adding grooming and boarding services, a pet supply store and by increased advertising to expand into untapped markets. This practice consistently provides steady positive cash flows, with a net income estimated to be between 3% and 10% ($75K or 10.5% in 2014). Annual discretionary cash flow earnings to a new owner, i.e. adjusted EBITDA, is estimated to be more than $200K (before any new owners remuneration), sufficient to service any debt financing. The estimated value range of this practice from operations is between $260K and $430K (excluding cash, receivables, inventory, liabilities and facilities).

* Adjusted EBITDA = EBIT plus Depreciation and Adjustments (excluding Owners compensation)

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If you are interested in any of these offers or would like more information about the program or process, please contact Denton Zeeman at 785-864-8863, dentonz@ku.edu, or redtire@ku.edu.

 

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