Local vet clinics being purchased by corporations prompt concerns about cost, options, and level of care
The Future of Independent Vets: A Look at the Changing Landscape of Veterinary Practices
Independent Vet in Halifax Area Concerned About Corporate Takeover Trend
Dr. Ryan Redgrave, a vet in the Halifax area, is raising concerns about the increasing trend of large corporate chains buying up independent vet practices in Canada and around the world. Redgrave, who owns Weste Animal Hospital in Lawrencetown, N.S., near Halifax, believes that this trend could limit choices for pet owners and impact the future of animal care.
The rise of corporate consolidators in the veterinary industry has been a growing trend, with companies like VetStrategy, VCA Canada, and NVA acquiring hundreds of clinics across the country. According to a report from the Ontario Veterinary Medical Association, corporate interests now control 20% of veterinary hospitals in Canada and employ about 40% of the nation’s vets.
Redgrave, who took over the practice from his mentor in 2019, is among the dwindling number of independent vets in the Halifax area. A recent CBC News investigation found that 42% of local clinics in the area are corporate-owned, raising concerns about the future of independent practices.
While corporate chains argue that they offer modern facilities and a healthy work-life balance for vets, concerns about pricing and competition have led to government action in other countries. In the U.K., regulators are investigating pet medicine pricing and competition between vet clinics, while in the U.S., the Federal Trade Commission has intervened in mergers involving large chains.
Despite the challenges posed by corporate consolidators, Dr. Jeffrey Wichtel, dean of the Ontario Veterinary College, believes that independent vets will always have a place in communities. He emphasizes the need for independent practices that offer something different from corporate chains.
As for Redgrave, he hopes to one day sell his practice to a young veterinarian, ensuring that the tradition of independent vet care continues in the Halifax area. With the future of independent vets hanging in the balance, the debate over corporate consolidation in the veterinary industry is far from over.