Buying or Selling a Veterinary Practice

If you’re in the market to buy or sell a veterinary practice, you need a specialist healthcare law solicitor to advise and guide you through the process.

Whether you are a first time buyer, you’re selling an established practice, or you’re an investor looking to diversify your portfolio, we provide comprehensive legal advice on the conveyancing process. We also provide guidance on financing and practical business considerations such as accounts and bookkeeping, cash flow, transferring business assets and client databases, drugs wholesalers, sharp service providers, and cremations.

Having a solicitor with specialist experience is essential for ensuring the viability of your business plan. Mel Kang has dealt with hundreds of corporate healthcare transactions over the years. As a legal practitioner who focuses solely on healthcare law, Mel has achieved recognition as one of the UK’s leading lawyers in this area.

For further information on buying or selling a veterinary practice, please get in touch with our corporate healthcare lawyers by giving us a call at our offices in London, Birmingham, or Manchester, emailing mel.kang@gunnercooke.com, or filling in our online enquiry form.

How our corporate healthcare solicitors can help you

Whether your practice’s focus is on small or large animals, equine-only, or mixed animal, we have the expertise to help you with your transaction, including providing detailed advice on the specific challenges and issues associated with your industry and business.

We can advise in relation to:

  • Acquisitions and disposals of veterinary practices, including asset and share purchases and sales
  • The suitability of a certain premises for your business, including advice on the viability of your business plan
  • Incorporation of veterinary practices
  • Liaising with interested parties including the buyer/seller, their solicitors, sales agents, and any mortgage lenders or investors financing the transaction
  • Drafting and reviewing partnership deeds and/or shareholder agreements
  • Structuring your transaction as tax-efficiently as possible
  • Assisting with buyer due diligence investigations
  • Reviewing and advising on the terms of the lease in relation to leasehold purchases
  • Negotiation of the purchase and sale agreement, including agreeing warranties and indemnities to protect your best interests
  • Business-specific advice, including client base and transfer, employment law, equipment, and policies and procedures

Financing a veterinary practice purchase

Mel Kang is an approved Bank Panel solicitor for many lenders who lend within the healthcare sector. Therefore, we can point you in the right direction for accessing lucrative finance options.

You should always obtain independent financial advice before choosing a particular route for financing.

Asset and share purchases and sales

For veterinary practices owned by an individual or partnership, it will be sold by way of a transfer of the business’s assets.

On the other hand, limited liability companies can either transfer the business by way of an asset sale or a share sale.

Sole traders and partners should consider whether it’s financially beneficial to incorporate before selling the practice. We can provide advice about the advantages and disadvantages of both types of purchase and sale, including tax implications and responsibility for the business’s liabilities.

Due diligence

The buyer of a veterinary practice should undertake due diligence before contractually agreeing to purchase. For example, financial performance and the practice’s commitments and liabilities are all key areas to explore.

We can assist buyers undertake this process efficiently and cost-effectively, including liaising with the seller and their solicitors and agents in order to obtain information about the practice.

Lease review

Many veterinary practices are purchased on a leasehold basis. We can carefully review the lease of your chosen practice on your behalf to ensure there are no terms which could be detrimental to your business, such as:

  • No break clauses
  • Frequent rent review clauses (which cause the ground rent to escalate over the years, significantly reducing the property’s value)
  • Restrictions on sub-letting
  • Burdensome maintenance clauses
  • Restrictions on alterations to the property
  • Burdensome service charges

Why choose Mel Kang and his team of corporate healthcare solicitors?

Mel Kang is a leading corporate healthcare lawyer with nearly 3 decades of experience assisting in the buying and selling of healthcare practices. Working with a team of specialist healthcare law professionals, Mel can conduct your property transaction proficiently and cost-effectively, setting your business up for the best start possible.

Our approach is client-centred. You will always have direct access to an experienced lawyer with who has dealt with countless veterinary practice purchases and sales and we’ll act without delay to progress your transaction as efficiently as possible.

We pride ourselves on our full-solution services. Our assistance isn’t limited to signing legal documents, we can also provide comprehensive advice about setting up and running your veterinary practice to maximise its value and exceed your customers’ expectations.

Get in touch with our veterinary practice purchase solicitors today

For further information on buying or selling a veterinary practice, please get in touch with our corporate healthcare lawyers by giving us a call at our offices in London, Birmingham, or Manchester, emailing mel.kang@gunnercooke.com, or filling in our online enquiry form.