Are you contemplating buying a veterinary clinic or hospital? Consider these tips from our Veterinary Hospital Lawyer
The obvious initial considerations in buying a veterinarian clinic or hospital may be the purchase price and location of the clinic. However, you should also consider some factors that may be less obvious. As an experienced veterinary hospital lawyer, I would also ask you to consider the trajectory of the gross revenues that were generated and collected in the recent years, the patient retention rate, the employee retention rate, and the potential future growth or lack thereof are some additional issues that you should consider when buying a veterinary hospital. Our experienced lawyer for veterinary hospitals discusses some potential pitfalls to avoid in veterinary clinic transitions.
For additional information regarding the various aspects of veterinary clinic acquisitions, i.e., letters of intent, asset or stock purchase agreements, due diligence, and the Closing please Book Your Consultation with our veterinary attorney.
Protection Against Liability in Veterinary Clinic Acquisitions –
Protection against past liabilities is a much more important consideration for the buyers than the sellers in veterinary clinic transitions. If your transaction is not properly structured, a buyer may realize too late that there are judgments, lawsuits, and liabilities that occurred when the seller owned the clinic for which the buyer may become liable. Therefore, your transaction should be structured so that the Closing date becomes the cutoff date for past liabilities. Also, thorough due diligence of the selling veterinary hospital should be conducted so that any potential liabilities are flagged and dealt with prior to the Closing.
Tax Consequences in Veterinary Transitions
Buyers should also be aware of substantial tax consequences (and how to best minimize them) that could result from the allocation of the purchase price. Negotiating the purchase price is only the beginning of negotiation, not the end. An attorney who is not experienced in veterinary transitions could make mistakes that will result in substantial tax consequences. Aside from the financial and legal benefits that you gain from retaining an experienced veterinary hospital lawyer, my experiences and knowledge could make the difference between putting your clinic on a path to success.
As a veterinary clinic lawyer, I have the experience and knowledge to provide you with excellent representation in negotiating your purchase price, the terms of your contract, and maximizing your protection under the law to set up your clinic for success.
Choose our veterinary hospital lawyer for buying veterinary clinics and hospitals so you can Practice with Confidence!
Kamkari Law – Healthcare Attorney
Lawyers for veterinary hospitals & clinics