Veterinary Practice Partners Enters Into Partnership With Dr. Michelle Rudd Of Annapolis Cat Hospital And Bay Ridge Animal Hospital, Expanding The Pathway To Ownership For Female And Associate DVMs
1st February, 2024 20h48
This partnership is the latest example of VPP’s commitment to keeping veterinary medicine in the hands of veterinary professionals by offering co-ownership opportunities to associate veterinarians
Veterinary Practice Partners (VPP), the veterinary community revolutionizing vet practice ownership and support, is proud to announce its partnership with Dr. Michelle Rudd, who is transitioning from associate veterinarian and Medical Director at the Annapolis Cat Hospital and Bay Ridge Animal Hospital to equity partner. Attracted by VPP’s deeply embedded culture of community and operational support, Dr. Rudd joins more than 90 other former associate veterinarians who have become co-owners in partnership with VPP.
“VPP’s differentiated approach to partnership allows veterinarians like me to have a vested interest in the two practices”
Located in Annapolis, Maryland, the Annapolis Cat Hospital and Bay Ridge Animal Hospital originally partnered with VPP in 2017. The hospitals are full-service, state-of-the-art veterinary practices, providing wellness care, diagnostics, dentistry, surgery, an in-house pharmacy, and more. Dr. Rudd valued VPP’s culture and operational success to such an extent that she decided to become a co-owner and equity partner of the hospital alongside VPP.
“VPP’s differentiated approach to partnership allows veterinarians like me to have a vested interest in the two practices,” said Dr. Rudd. “Although I was initially hesitant about partnering with a corporation, VPP’s model allows veterinary practices to maintain control over medicine while VPP handles the operational aspects of business ownership. The partnership – through economies of scale, improved purchasing power, and a deeper pool of resources – provides enhanced benefits to staff members that aren’t always available to private practice employees. VPP cares about the people they employ, and they want to help veterinarians like me create a place where our staff is valued and our patients are provided with the best care possible.”
The partnership with Dr. Rudd serves as the latest example of VPP’s commitment to developing associate DVMs into equity partners and owners. Since inception in 2011, 92 associate veterinarians have become equity partners of their respective veterinary clinics and hospitals. Seventy-six percent of these new doctor-partners are female. In an industry where most of the workforce is female, VPP’s differentiated co-ownership model is moving the needle toward more equitable practice ownership in the veterinary industry.
VPP co-owns practices nationwide with local veterinarians, assisting them to grow their practice, develop their teams, improve operations, and more skillfully navigate the rapidly changing environment for animal health services. VPP doctor-partners retain control over medical services and practice culture while VPP handles the core business functions, including marketing, finance and accounting, operations, IT, and HR and recruiting. This division of responsibility allows VPP to keep veterinary medicine in the hands of veterinarians.
“At VPP, our pathway to practice ownership sets us apart, as demonstrated by the more than one-third of doctors within our VPP community who are equity partners,” said John McDonough, CEO of VPP. “As we continue to work hand-in-hand with our partnered practices, VPP also opens the door for women and other underrepresented groups to join the ranks of practice owners. Our focus is on driving success for the VPP community while nurturing the career paths of the talented employees at our partnered hospitals and clinics.”
Veterinarians interested in exploring co-ownership opportunities with VPP can find more information at www.vetpracticepartners.com.
More from Veterinary Practice Partners
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- Veterinary Practice Partners Expands by More Than 50% in Past Year, as Partnership-Focused Model Gains Traction with Veterinarians Nationwide
- Veterinary Practice Partners Adds New Animal Hospital Group to its Community, as Differentiated Model Gains Traction