Caring Hands Animal Hospital partners with Veterinary Practice Partners
VPP offers co-ownership to 21 associate veterinarians
Veterinary Practice Partners (VPP), a community of over 125 animal hospitals throughout the US, has teamed up with Caring Hands Animal Hospital, a network of 8 veterinary hospitals in Maryland and Virginia, to elevate 21 associate doctors to become equity partners, with 17 of them being women.
The collaboration is based on both companies’ strong alignment of core values, including offering quality veterinary care in their communities while preserving the human-animal bond.1 The Caring Hands brand has expanded under the leadership of Michelle Vitulli, DVM, founder and co-owner of Caring Hands Animal Hospital. The 21 veterinarians who are equity partners will support the leadership team of 6 current partners for the Caring Hands brand.
“Dr Vitulli is an amazing leader in the profession and an inspiration for younger doctors and for me. This partnership reflects our combined mission with Caring Hands to make ownership a reality for as many doctors as possible, particularly female leaders who have played a fundamental role advancing veterinary care in recent years. We’re excited to welcome Dr Michelle Vitulli and her partners to the VPP community,” said Doug Aspros, DVM, chief veterinary officer at VPP, in the release.1
Veterinary Practice Partners co-owns practices with veterinarians, and the goal of its strategy is to provide a better alternative to doctors than that offered by more traditional investors in the sector. Veterinarians can prioritize treating patients, while VPP promotes the core business functions, helping relieve the stressors of independent ownership.
The Caring Hands business model, built on empowering doctor partners, integrates well into the VPP model. Vitulli, along with Jeff Newman, DVM, and Karen Murphy, DVM, have created a hospital network by investing in their associate doctors, building de novo hospitals with them, and actively enegaging in the daily management of the practices, according to the release.1
Vitulli, a 1991 graduate of Cornell University College of Veterinary Medicine, and Aspros from VPP have known each other for several years, so this partnership was built over time. Aspros’ and VPP’s tenacity in supporting female owners was a key factor in Caring Hands selecting VPP as a business partner.
“I recall asking Dr Aspros why he was attending a women’s veterinary leadership conference, to which he replied, ‘Women are the future of the profession,” said Vitulli, in the release. “Doug cares about veterinary medicine, and his resolve to help ensure women colleagues – who make up the majority of veterinarians, but the minority of practice owners – have a seat at the table continues to make a lasting impression on me.”
Through the collaboration, VPP and Caring Hands will offer comprehensive veterinary care and expertise to pet parents and their animals, further encourage more doctors to become owners, and ensure the human-animal bond is respected and enhanced over time by protecting veterinarian-owned businesses.1
“The outcome of this partnership is that it will allow me to be more present in the exam room and give many of my hard-working doctors a chance to have equity and ownership, which is deserving due to their incredible dedication to our patients and this hospital,” added Brian Neumann, DVM, co-owner of Caring Hands’ Alexandria location, in the release. “I am equally thrilled to maintain a significant ownership stake, which aligns the interests of our veterinarians and VPP and incentivizes each of us to reinforce our strong ties to our respective communities.”
Reference
Caring Hands Animal Hospital joins Veterinary Practice Partners (VPP). News release. Veterinary Practice Partners. April 6, 2023. Accessed April 7, 2023. https://www.businesswire.com/news/home/20230406005139/en
