On Industry Dynamics
Kimball Carr: The veterinary industry has compelling long-term fundamentals. Pet ownership has grown significantly, and pet parents are spending more on healthcare. Yet the market remains highly fragmented with over 30,000 independent practices in the US alone.
This combination of strong demand and fragmented supply creates an attractive consolidation opportunity. Independent veterinarians often lack resources for technology, marketing, and administrative support that a larger organization can provide.
On Acquisition Strategy
Q: How do you select acquisition targets?
Kimball Carr: Cultural fit is paramount. We look for practices with strong clinical reputations, loyal client bases, and veterinarians who share our values. Financial metrics matter, but we won’t compromise on culture for a deal.
We also focus on geographic clustering to create operational efficiencies and career opportunities for veterinarians across our network.
On Integration
Q: How do you integrate acquired practices?
Kimball Carr: Our integration playbook has been refined through multiple acquisitions. We provide immediate support in areas like accounting, HR, and technology while preserving local practice identity and clinical autonomy.
Veterinarians retain significant independence in patient care decisions. Our role is to handle the business side so they can focus on medicine.
On Growth Outlook
Q: What is your growth trajectory?
Kimball Carr: We expect to continue acquiring practices at a measured pace while also driving organic growth at existing locations. Our focus is on sustainable, profitable growth rather than aggressive expansion.