There’s a shift happening in veterinary medicine, and you can feel it in the conversations I’m having every week.
For more than a decade, the story was a one-way street. Independent practice owners sold to corporate consolidators, often for premiums an associate simply couldn’t match, and the industry tilted steadily toward corporate ownership. The numbers tell that story plainly: a decade ago, fewer than 10% of practices were corporate-owned. Today, depending on whose estimate you trust, somewhere between a quarter and nearly half of all practices operate under corporate management. In 2023 alone, consolidators acquired somewhere between 700 and 800 independent companion-animal practices, the first year corporate purchases overtook independent transactions entirely.
But here’s what the headline numbers don’t capture: a growing number of veterinarians are quietly moving in the other direction.
Independent Veterinary Practice Ownership Is Making a Comeback
Whether you’re searching for a veterinary practice for sale in Chicago, a vet clinic for sale in Chicago, or exploring vet practices for sale near me throughout Illinois, Michigan, Minnesota, or Wisconsin, the market is changing in meaningful ways. More associates are actively pursuing ownership than we’ve seen in years, creating new opportunities for buyers and sellers alike.
At DVMmatch Midwest, we’re seeing increased interest from veterinarians looking for veterinary practices for sale in Chicago, veterinary clinics for sale in Chicago, and established veterinary hospitals throughout the Midwest.
The Doctors I’m Hearing From
More and more, the veterinarians reaching out to me about ownership are coming from corporately owned practices. And they tend to fall into two camps.
The associate who was almost an owner. This is the doctor who spent years at a practice they loved. Maybe they were even told, somewhere along the way, that a piece of the business might one day be theirs. Then the practice sold to a corporate group, and that path simply closed. The ownership conversation they’d been promised evaporated, and they found themselves an employee in a place they once imagined leading.
The associate who never wanted ownership until now. This is the doctor who was perfectly content as an associate at a privately owned practice. They liked their autonomy, their patients, and their team. Then their practice was acquired, and the day-to-day changed in ways that didn’t sit right. For the first time, ownership doesn’t look like a burden. It looks like a way back to the kind of medicine they signed up to practice.
I want to be careful and fair here. This is not a blanket indictment of corporate ownership. Many corporate and private-equity-backed practices deliver excellent care, invest in technology and people, and provide stability that independent owners sometimes envy. Plenty of veterinarians are genuinely happy in those settings, and I won’t pretend otherwise.
The point isn’t that corporate ownership is bad. The point is simply this: a growing share of the doctors now considering ownership are coming from corporate practices, and that’s worth paying attention to.
The Data Supports the Trend
When I first noticed this pattern in my own conversations, I wondered if it was just my corner of the Midwest. It isn’t.
A 2025 SWOT analysis published in Frontiers in Veterinary Science argued that conditions are ripe for a resurgence of independent veterinary practice ownership. A law firm that reviews more than a thousand veterinary contracts each year recently described what they’re seeing as nothing less than a renaissance of independent ownership, with more associates actively wanting to buy into practices. Perhaps the most telling statistic of all is that, in one survey of former practice owners who had sold to a corporation, 71% said they would have preferred to sell to an associate instead.
Read that again. Most owners who sold to corporate wished they had sold to one of their own.
Why Veterinary Practice Sales Are Changing
Part of what’s driving this shift is timing and economics.
For years, corporate offers were almost impossible to refuse. Consolidators often paid two to three times what an associate buyer could afford, making a corporate sale the obvious financial decision. Today, those sky-high EBITDA multiples have moderated. As the difference between selling to corporate and selling to an associate narrows, associate buyers are becoming much more competitive.
There’s also growing awareness of what a corporate transaction actually involves. Many deals include multi-year employment agreements, earn-outs, or equity in the acquiring company rather than a full cash purchase. For practice owners who value their staff, clients, and legacy, transitioning ownership to another veterinarian often provides advantages that extend well beyond the purchase price.
For veterinarians wondering how to sell my vet hospital or sell my vet hospital while preserving the culture they’ve built, today’s market offers more options than ever before.
Opportunities for Buyers Across the Midwest
If you’re looking for a vet hospital for sale in Chicago, a veterinary hospital for sale in Chicago, or established veterinary practices throughout Illinois, Michigan, Minnesota, or Wisconsin, now may be one of the strongest opportunities in years.
More owners are planning thoughtful succession strategies, creating opportunities for associates and first-time buyers who want to own an independent practice rather than start from scratch. Whether you’re searching for veterinary clinics for sale in Chicago or exploring opportunities throughout the Midwest, having an experienced veterinary practice broker can help you identify practices that align with your professional and financial goals.
Planning Your Veterinary Practice Transition
If you’re reading this from inside a corporate practice and feeling that quiet pull toward something of your own, you are not alone, and you are not behind. You’re part of a genuine market shift.
Ownership today doesn’t have to mean building a practice from nothing or navigating the process alone. There are practice owners actively looking for the right associate to step in. Some want a partner to buy in over time. Others are planning a complete transition over the next several years and hope to pass their practice to someone who shares their values rather than a corporate buyer.
Those successful matches don’t happen by accident. They happen through thoughtful planning, strong relationships, and experienced guidance from a veterinary hospital broker who understands both buyers and sellers.
If you’re a practice owner, the associate you’ve been mentoring may be a more qualified buyer than you realize. Structuring that transition early can maximize value while protecting the future of your hospital.
The Future of Independent Veterinary Practice Ownership
The era of corporate consolidation isn’t over. But it’s no longer the only story. Across Chicago, Illinois, Michigan, Minnesota, and Wisconsin, more veterinarians are discovering that independent ownership remains both achievable and rewarding.
Whether you’re searching for a veterinary practice for sale in Chicago, considering your options for veterinary practice sales, or looking for the best veterinary practice broker to guide your transition, now is an excellent time to begin the conversation.
If you’re ready to explore buying or selling a veterinary practice, DVMmatch Midwest is here to help. Every conversation is confidential, personalized, and focused on helping you achieve your long-term goals.
Schedule a confidential conversation with DVMmatch Midwest today.
Jessica Pasta is a veterinary practice broker with DVMmatch Midwest, specializing in veterinary practice sales and transitions throughout Chicago, Illinois, Michigan, Minnesota, and Wisconsin. Whether you’re looking for a veterinary practice for sale in Chicago or preparing to sell your veterinary hospital, Jessica provides expert guidance throughout every stage of the transition process. Reach her at 312.720.1789 or JPasta@DVMmatch.com.