Veterinary Practice Partners

About Veterinary Practice Partners

Veterinary Practice Partners (VPP) operates as a veterinary practice management group, distinguished by its co-ownership business model. Founded in 2011 by Deerfield Management Company and co-founder Rich Lester, the company was established to revolutionize practice ownership by forming partnerships with veterinarians. This structure allows veterinarians to retain clinical autonomy and focus on patient care, while VPP manages the business aspects of the practice. The company provides a suite of operational support services, including finance, marketing, human resources, recruiting, and technology.

VPP's core clients are veterinarians and animal hospitals. The business model is centered on acquiring a majority stake in veterinary practices, typically 70 percent, while the doctor-partners retain the remaining 30 percent, creating direct economic alignment. This approach has proven attractive to veterinarians, enabling many to become first-time practice owners. Since its inception, VPP has expanded significantly through both acquisitions and de novo development. By late 2021, the company partnered with over 85 practices across more than 20 states. The network has since grown to include over 206 doctor partners in 29 states as of mid-2024.

Key milestones in the company's history include its acquisition by Pamlico Capital in August 2016 from founder Deerfield Management. Under Pamlico's ownership, VPP accelerated its growth, partnering with over 60 additional hospitals and building out its management team, which included transitioning John McDonough from Executive Chairman to CEO. In December 2021, Audax Private Equity acquired VPP, with the existing management team, including CEO John McDonough, continuing to lead the business and hold a significant ownership stake. This backing has supported further expansion, such as the acquisition of the Caring Hands Animal Hospital network in 2023.