BROADCASTS.com

b"This week, Dr. Randy Spencer talks about the changes that have been roiling the vet business. For one thing, that pandemic puppy boom we all heard about has brought additional stress to veterinary workers who had already had more than their share. For another, there\\u2019s been a wave of corporate money and private equity flowing into the industry. That sounds as if it could be a good thing. And in fact, Spencer says he\\u2019s been dodging a constant flow of acquisition inquiries for years. But the big money has also engendered considerable turnover and disruption, and in response, Spencer decided to sell 100 percent of his business, 1st Pet Veterinary Centers, to an employee stock ownership plan in 2021. The transition to an ESOP remains something of a work in progress, in part because veterinary people tend to be more focused on pets than they are on profits. \\u201cVeterinary medicine,\\u201d Spencer says, \\u201cis just the best profession in the world. In a way, it's a service industry, but we get to serve pets. That's why veterinarians get into it.\\u201d"