Nick Lodestro worked in the pet medical industry for seven years. During that time, he talked to a lot of veterinarians and realized that many had no interest in running a business. They had grown their own practices but just wanted to care for family pets.
“They’ve been business owners historically out of necessity,” Lodestro said.
According to the American Veterinary Medical Association, the United States has 73,900 veterinarians in private practice. Most own single-location practices, and the majority are small animal veterinarians. Lodestro saw an opportunity.
He earned an MBA in 2013 from Babson College in Massachusetts and wrote his capstone project about buying veterinarian practices and managing the businesses for the vets. The veterinarians would continue to work for the practice as employees.
Lodestro discussed the idea with his friend, Paul Habenicht, and that led to the formation of a partnership. They founded VetEvolve in 2014. The company now owns 32 veterinarian…
Read the full story from the Washington Business Journal.
