Australia’s new festival style event for veterinarians, veterinary nurses, practice managers and all animal health professionals.
We have created Australia’s most important veterinary and animal health event, The VET Expo! This in-person two-day festival style exhibition held at Sydney’s International Convention and Exhibition Centre brings together 2500+ attendees across the entire veterinary animal health and petcare sectors to learn, network, discover & buy new products.
Over two days, The VET Expo unites industry buyers such as veterinarians, veterinary specialists, veterinary nurses, animal technologists and technicians, practice managers and owners, government, associations, pet product retailers, start-ups and innovators and connects them with 111+ leading industry sellers who showcase new technology, products and service related to the veterinary and pet care world.
The VET Expo features a world class conference with ’17 conference tracks including animal welfare, animal behaviour, practice management, dentistry, companion canine, vet nursing and much more. Earn CPD points by learning from 169+ expert speakers delivering inspiring solo presentations and lively panel discussions.
Registration to attend is open! Book your delegate ticket to be a part of the definitive event that brings all animal health stakeholders together under one roof and promotes new thinking, new efficiency, new technology and best practice in the industry.
24 & 25 October 2024 International Convention and Exhibition Centre, Sydney
Comments Off on The Edge Equine – Specialists in Power Equipment and Custom Manufacturing
For over 20 years now, working alongside and listening to veterinary leaders, we’ve introduced to the Australian vet market, new and exciting equipment previously not available in Australia. Our manufacturing capabilities and our commitment to paving the way towards the future in the field of equine dentistry, have helped cement us as industry leaders.
Quality is everything to us, and we only stock and supply quality instruments.
Our service and maintenance department, headed up by several specialist technicians, is fully equipped with a large range of spare parts to suit almost any brand of equine dental power equipment. We take pride in our knowledge and flexibility, not to mention our outstanding customer service. Our turnaround time, generally 24 – 48 hours, means that you have minimal downtime and can quickly get back to what you do best!
We’re fully committed to continuing to update and modernise our workshop and service facilities and to train our team in the latest manufacturing methods to meet your service and maintenance requirements.
Contact us for more information about your service requirements, and if you’re after a custom job, we’re your people!
Comments Off on The Consolidation of the Veterinary Industry
As the veterinary industry faces increasing levels of consolidation, it’s important to be aware of ownership of practices, as it can factor in to decisions about job applications. Some ‘independently owned’ practices are starting to promote this as an attractive option to job applicants, and new graduates are faced with a barrage of promotion from the major consolidators, who are able to offer attractive graduate training packages.
So, who are the major players?
Around 60% of veterinary practices in the U.K. are owned by six large consolidators, according to the CMA (the UK Competition and Markets Authority). The CMA has identified six large corporate groups (CVS, IVC Evidensia, Linnaeus, Medivet, Pets at Home, VetPartners) owning veterinary practices, including three that are owned by private equity firms. After an initial review in September 2023, The CMA has reached a provisional decision to open a formal market investigation.
In the United States, about 30% of general practices and 75% to 80% of specialty practices are owned by consolidators, together accounting for at least 50% of industrywide revenue, by the reckoning of Chicago-based Brakke Consulting.
Levels of ownership concentration in Australia are lower, though by how much is unclear. According to data compiled by IBISWorld in 2023, VetPartners controls some five per cent of the Australian veterinary industry compared with Greencross, which has a 6.1 per cent share. The remaining 88.9 per cent is split among the remaining operators, many of whom are single-practice businesses. Australian consolidators have also acquired veterinary education facilities, pet crematoria, pet stores, and pathology businesses.
Some of the major Australian consolidators at the moment are:
Vetpartners – acquired by Swedish private equity firm EQT (BPEA Private Equity Fund VIII) in 2023. Vetpartners practices are individually branded, but also incorporate some GP groups such as Vetwest and AdelaideVet, and a growing ream of referral centres including Southpaws, Brisbane Veterinary Specialist Centre, North Shore Veterinary Specialist Centre, Sydney Veterinary Emergency & Specialists, Peninsula Vet Care, and Perth Veterinary Specialists.
Greencross – acquired by US private equity firm TPG Capital (55%) in 2019. A 45% stake is owned by AustralianSuper and HOOP. There has been some interest in the group from Wesfarmers. GP clinics are branded Greencross, and there’s a network of Animal Emergency Centres, and also the Animal Referral Hospital group. Greencross also owns Petbarn, Animates, City Farmers and Habitat Pet Supplies.
Apiam Animal Health Limited, including Furlife Vet companion animal clinics – ASX listed public company. With 80 clinics, Apiam is touted to be an attractive target for a buyout.
Vets Central – Pemba Capital Partners, Australian private equity firm (2021). Over 45 clinics according to the Pemba Capital Partners website. Pemba Capital Partners also has an interest in Queensland Veterinary Specialists, and VSA in New Zealand (Veterinary Specialists Aoteara).
CVS – CVS Group plc – UK listed public company currently expanding their consolidation of clinics in Australia, currently standing at around 28.
Petstock – Petspiration Group. 55% owned by Woolworths since the end of 2023
OurVet – PetO – Australian owned private company. In 2024 PetO has taken over the practices divested by the Petspiration Group following the Woolworths deal (41 stores and 25 co-located vet clinics, branded Best Friends, Our Vet, My Pet Warehouse and Pet City), to add to a handful of clinics in Sydney.
Animal Emergency Australia, AES – Independent Employee Owned. Practices in 6 states.
Small Animal Specialist Hospital, SASH – Independent Vet Owned, private equity company has a minority stake
So how about New Zealand? Vet Clubs are being corporatized and clinics are also being consolidated, although it may not be as immediately obvious.
Vetpartners – owned around 50 clinics in NZ in 2023. Including Pet Doctors (most now de-branded). Foreign owned – acquired by Swedish private equity firm EQT (BPEA Private Equity Fund VIII) in 2023
Vetora – Vet Club
Vetlife Animal Health Partners – vet club/private company
VetEnt – Veterinary Enterprises Group Limited, Petfirst – private company
Anexa Veterinary Services – Anexa FVC – private company
The Kookaburra Vet Employment Salary Survey in 2022 highlighted some differences between corporate and non-corporate practices, one of which was the ‘happiness’ scores (243 responses).
It’s to be hoped that as levels of consolidation increase, these companies take the crisis in veterinary mental health seriously, and implement measures to improve support and working conditions for all their employees.
This information includes the views and opinions of Kookaburra Veterinary Employment and is of a general nature only. Factual information is believed to be correct at the time of writing, however, should not be relied upon and any person should confirm details with the relevant authorities and through their own research prior to acting on any of the suggestions in this article.
We’re all getting excited about our Office Christmas party – but here’s a quick reminder about the tax implications from the ATO Grinch!
If your business holds a Christmas party:
on a working day, on your business premises, and only for your current employees, you don’t pay fringe benefits tax (FBT) for the food and drink
off your business premises, or the party includes associates of employees (such as their partners), you don’t pay FBT if the party is a minor benefit – that is, the cost for each person is less than $300 and it would be considered unreasonable to treat it as a fringe benefit
that includes clients, you don’t pay FBT for the costs relating to the clients.
If you give your employees a Christmas gift, you don’t pay FBT if the value of the gift is less than $300 per person and it would be considered unreasonable to treat it as a fringe benefit.
If the Christmas party is not subject to FBT, you can’t claim income tax deductions (or GST) for the cost of the party.
A fringe benefit is a payment made to an employee but in a different form to salary or wages. Benefits made to volunteers or contractors are NOT fringe benefits. A fringe benefit is provided “in respect of employment”. It can also be a benefit given to an associate of the employee. So, for example if an employer pays the gym fees of an employee’s spouse, this is considered a fringe benefit provided to an associate of the employee.
Examples of fringe benefits include:
allowing an employee to use a work car for private purposes
car parking
paying an employee’s gym membership
providing entertainment by way of free tickets to concerts
reimbursing an expense incurred by an employee, such as school fees
giving an employee a discounted loan
Some work-related items (mainly used for work purposes) are exempt benefits. The exact exemption rules vary for small businesses:
Portable electronic devices
Software, protective clothing, tools of trade
‘Minor benefits’ are also exempt
When it’s both less than $300
And ‘unreasonable for it to be treated as a fringe benefit’
Fringe Benefits Tax – FBT
FBT is the amount of tax that would have been paid by the employee if they had paid for the benefit out of their own wages, at the top marginal tax rate including the medicare levy (47%) – eg. To buy a gym membership costing $1,100 including GST, the wages required would be $2,075: – $975 tax and $1,100 membership.
Instead of paying the employee extra salary of $2,075, the employer pays the gym membership of $1,100, claims $100 GST credits, and pays the tax required directly to the ATO as FBT. The employer can claim an income tax deduction for both the cost of the gym membership, and the cost of the FBT. The employee then does not pay income tax on the fringe benefit.
The FBT year is from 1st April to 31st March, and a FBT return must be lodged each year.
This information includes the views and opinions of Kookaburra Veterinary Employment and is of a general nature only. Factual information is believed to be correct at the time of writing, however, should not be relied upon and any person should confirm details with the relevant authorities and through their own research prior to acting on any of the suggestions in this article.
There is a lot of competition between clinics to fill practice vacancies for vets and vet nurses at the moment. These are Paula’s Ten Top Tips to consider when advertising:
Boost your extramural studies program: you may pick up a new graduate vet;
Have a strong vet nurse team: boosting the role of your nurses makes your practice more attractive to potential applicants;
Reply promptly to applicants: communicate in a timely manner;
Sort out your social media: applicants are looking for practices with a strong online presence;
Put your team online: pictures of your happy, sociable team can play a role in attracting applicants;
Give everyone a lunch break: this will impact on your team’s work/life balance and outlook on their job;
Undertake regular social activities: encourage your team to be socially engaged with each other and their community;
Promote your location: applicants are looking for somewhere they can settle so provide them with reasons why for your area;
Talk openly about the full benefits package: advertise your salary range on offer; and
Pictures of equipment are to be avoided: this is unlikely to attract applicants as most practices use similar equipment.
My current rule of thumb is to
take the emphasis in the ad off what you want from your new employee and
instead put it on what you are offering.
Author:
Paula Strong Kookaburra Veterinary Employment
This information includes the views and opinions of Kookaburra Veterinary Employment and is of a general nature only. Factual information is believed to be correct at the time of writing, however, should not be relied upon and any person should confirm details with the relevant authorities and through their own research prior to acting on any of the suggestions in this article.
