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We have a dedicated operations and integrations team to help with change of management in order to make the integration smooth so everyone is comfortable with their new team at MVP. Here’s a cheat sheet to take a look at what does and doesn’t change:
| Business Focus | Hospital Owned | MVP Supports |
|---|---|---|
| Existing Standards of Care | ||
| Your Client Relationships | ||
| Community Engagement | ||
| Benefits (401k, PTO, CE, Healthcare) | ||
| Human Resources | ||
| Operations | ||
| Finance & Accounting | ||
| Talent Acquisition (Finding & Hiring Staff) | ||
| Marketing (New Website + Marketing Support) |
Don’t just take our word for it. Hear from previous sellers about their experience:
How will my team react?
Given the overall reputation of corporate medicine, we expect that your team will be scared at first and we’re very sensitive to that. We’ve dealt with this and are prepared to deal with this, but in our experience, a lot of how this goes depends on the involvement of the seller. Here’s how you can help:
If you are a calm, transparent leader and you let your team know that you’re going to lead them through this transition, they generally react fine. If you’re disengaged, avoid the conversations, or don’t seem committed to a collaborative working relationship, then we find that your team will be more nervous and anxious about change.
When a seller is supportive of MVP, the transition goes significantly better. Two to three months after the deal closes, things calm down. By this time, your team will realize that they aren’t losing their jobs, things are as they should be, and they can trust MVP just like they have always trusted you.
Honestly, the truth is maybe you should choose MVP & maybe you shouldn’t.
Here’s what we can tell you:
Whoever you pick, you should get to know the leadership team. Get to know their CEO, COO, Chief Medical Officer, and other medical leadership. If you don’t know those people or if you don’t get along with them, you shouldn’t partner with them. You should pick the group you are most comfortable with.
What we think you will find with MVP is that we have a leadership team comprised of individuals that have successfully run large organizations, but also grew up in a small family held business. We think that our backgrounds make us uniquely positioned to provide tremendous financial success for sellers while maintaining the family feel of the business.
Hear from previous sellers and other team members about their experience with MVP
What is MVP looking for in a potential partner?
MVP is highly selective in choosing hospitals to partner with, and our number one priority is ensuring that new members of the MVP family share our values and embrace our culture.
Hear more from Evan Stephens, Vice President of Business Development.
How can MVP help me grow my practice?
MVP Support Functions
MVP will help you with all of the non-client relations aspects of your job so that you can go back to doing what you love.
CAPITAL EXPENDITURES
- New equipment
- Facility expansion, upgrades, and remodeling
- Technology and software investments
TALENT ACQUISITION
- Experienced recruiting specialists
- Dedicated recruitment team to fill open positions and create a funnel of highly qualified talent
MARKETING
- Dedicated resources to increase new patient visits
- Website optimization
- Online reputation management
OPERATIONS
- Office manager training & support
- Vendor contract negotiations
- Inventory management
- Scheduling analysis & enhancement
- Best practice sharing within MVP family
HUMAN RESOURCES
- Investing in your people
- Payroll administration
- Employee benefit programs & administration
- Staff training & career advancement
FINANCE & ACCOUNTING
- Centralized accounting
- Financial statement preparation
- Metrics & data management
- Accounts payable
What does the deal structure look like?
Can I include my associates?
We pride ourselves on customizing every deal to meet your personal, professional, and financial goals. Here are some of examples of different aspects of a deal, but we'll work with you to find the best solution for your needs:
ROLLOVER EQUITY
For the practice owner who wants to share in the upside of MVP's rapid growth. You get the same stock that our owners have.
JOINT VENTURE OR CO-OWNERSHIP
For the practice owner who wants to maintain some ownership in their hospital. Under this model, you can also roll equity into MVP and get the best of both worlds.
ASSOCIATE INCLUSION
For the practice owner who wants to provide financial upside and/or ownership opportunity to their associates.
ALL-CASH
We won’t do an all-cash deal. We have lots of veterinarians who are now stockholders of MVP and our job is to protect their investment by partnering with veterinarians who are committed to the future of their practice and MVP.
How long do I have to stay?
To be clear, we hope you never leave! In a perfect world we would partner together indefinitely.
In our experience, there are two separate types of sellers:
GAS IN THE TANK
If you still have a lot of gas in the tank and want to keep growing, we will help drive growth so you can focus on clients and continue to grow in your career.
READY FOR RETIREMENT
If you’re towards the end of your career and ready to wind down, our team will help you find the right people to execute your succession plan.
We recognize that not every seller has the same timeline in mind and that every situation is different. While we hope that every partnership is a long one, if you’re ready for your next chapter, we will work on a mutually agreeable plan for your exit. All we ask is that you’re upfront and honest with us!