DVS Confirms Independence With Internal Transfer Of Ownership
8 years ago 
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Davies Veterinary Specialists (DVS) has confirmed its independent status with a new internal transfer of ownership and an increase in shareholding amongst colleagues. The move demonstrates the importance DVS places on autonomy for the continued delivery of first class, multi-disciplinary specialist veterinary care.
The phenomenon of large group veterinary businesses is on the rise. Big corporations such as Pets at Home Vet Group have recently bought stakes in several of the UK’s biggest referral practices and CVS Group, for example, now owns more than 360 of the UK’s veterinary surgeries, including referral practices.
Davies Veterinary Specialists has, meanwhile, pledged its independence with a restructuring of the shareholding of existing owners and the introduction of new shareholders. DVS recognises that increasing shareholding opportunities will build an even more effective business democracy. This will in turn uphold DVS’s core values of integrity, professionalism, compassion and respect, helping to meet the needs of the patient, the owner and the referring veterinary surgeon in the most efficient and flexible way possible.
Dr Clive Elwood, Managing Director, said: “Maintaining our independence is important to us as a business because it ensures we retain the culture and ethos that provides leading multi-specialist care to all of our patients and exceptional service to our customers and referring colleagues.
“I am delighted we have managed to achieve this transaction, which represents the next stage in the development of our amazing practice. Retaining ownership means we can demonstrate that there remain alternative business models and career paths outside corporate practice. It is a pleasure to welcome such a fantastic group of new shareholders who will, I am certain, contribute greatly to our future success.”
Tom Spencer, Director of Bishopsgate Corporate Finance who structured, fund raised and project managed the transaction, commented: “I am delighted to have been able to structure the latest transfer of ownership following our involvement six years ago. Davies is a class leader with real depth across its management team. This business is ideally suited to management ownership and this deal bucks the trend of large-scale corporatisation so prevalent in the vet sector nowadays. It shows how deals can be structured for those practices looking to retain independence.”
The shareholdings of Jerry Davies (founder and chairman), Mike Thomas (financial director) and Clive Elwood (managing director) have been reduced while those of Ian Battersby (internal medicine), Ronan Doyle (soft tissue surgery), David Gould (ophthalmology) and Nat Whitley (internal medicine) have been increased. In addition there are eight new shareholders: Louise Clark (anaesthesia), Nuria Corzo-Menendez (diagnostic imaging), Mike Farrell (orthopaedic surgery), Laurent Garosi (neurology), Mark Goodfellow (oncology), Patricia Ibarrola (internal medicine), Pedro Oliveira (cardiology), Peter Smith (neurology).
DVS will continue to evolve the management and governance structure of the practice as it grows. In the future DVS shareholders will set overall strategy and direction for the business and ensure effective governance by the Board of Directors. As well as clinical skills, the development of management and leadership skills will be encouraged across the practice. A strong commitment to learning, research, innovation and teaching will support the delivery of exemplary patient care.
To find out more visit www.vetspecialists.co.uk
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