A Thoughtful Discussion on Practice Ownership - PART 2

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Recorded on October 26 & 28, 2021
The career journey of veterinary professionals is continually evolving with new pathways being forged daily.

Please Join Brett, David, and Robert as they discuss overcoming challenges Veterinarians and Practice Managers are faced with to maintain and grow their practice, selling their practice, creating value through real estate, associate retention, and what to look for in supporting partners that would bring a positive impact to your career journey.

Part 2 - October 28 at 6:30 pm

Real estate feasibility: buying or leasing, what factors to consider, and what value does real estate bring to a sale/purchase of a practice
Retaining associates without giving up equity
Partnering with industry supporting professionals and how to select a Broker/Valuation, Legal, Banking/Finance look expert who would bring the most value

Contributors

David McCormick MS, CVA

David McCormick is a veterinary practice appraiser, broker and transaction specialist. Over the last 20 years he has focused on veterinary practice valuation, facilitating transactions and helping current and future practice owners reach their goals. He teaches regionally, nationally and internationally on topics such as practice value & practice financial health, buying/selling a practice, exit planning and practice ownership issues. He operates the Simmons & Associates offices of Simmons Mid-Atlantic and Simmons Great Lakes with his partner and father, Larry McCormick, DVM, MBA, CBA.
Robert H. Montgomery, III, Esq.

Rob focuses his practice on the legal and business needs of his healthcare clients, advising on practice acquisitions and sales, practice start-ups and lease negotiations, buy-ins, partnership agreements, employment matters, forming and structuring dental service organizations, operational issues, financing, real estate sales and acquisitions, as well as general corporate and business matters. Rob practices primarily out of the firm’s Philadelphia office.

Rob regularly lectures to audiences across the country and is a frequent speaker for Ideal Practices, a highly regarded national dental practice start-up consulting firm. Rob is the co-founder and co-host of The Dental Amigos Podcast.
Brett Mansfield

National Manager – Healthcare and SBA Verticals
Retail Business Banking

Brett is the National Manager for Retail Business Banking’s Vertical Businesses. He and his team are responsible for clients in the healthcare industries as well as clients that are in need of Small Business Administration (SBA) loans. These clients have annual sales of less than $20 million.

In his prior role, Brett was the National Coverage Manager for Client Management within Commercial Business Banking. Prior to his national role, Brett was an Area Director within Southern California and Nevada, calling on clients with annual revenues between $10 million to $50 million. As an Area Director, Brett’s team was the top producing Healthcare Practice Finance area within Citi’s Commercial Banking Group for two years in a row. He brings 26 years of leadership experience within the Business Banking space, including Small Business, Business Banking, and Middle Market Banking. Prior to rejoining Citi, Brett was the Business Banking Director for Union Bank. Brett led a team of 102 bankers across three states (California, Washington, and Oregon) and was responsible for a $1 billion loan portfolio. Brett has accumulated 32 years of banking experience with 16 of those years being with Citibank (also has experience at Wachovia and Wells Fargo).

Education:
- University of California, Irvine, Bachelor of Arts in Economics with Minor in Management, 1989
- Numerous Citi sponsored credit courses
- Citi Leadership I and II
- Omega Certification
Community Service
Board Member & Current Audit Committee Chairman: Habitat for Humanity of Orange County
Past Chairman of the Board: Habitat for Humanity of Orange County
Teaches annual economic/financial responsibility courses at a local high school
Previous Board Member: The Ocean Institute
March of Dimes Volunteer
Brett was born and raised in Southern California where he currently resides in Orange County. He has been married for 19 years, and has two daughters.

Thank you

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Contributors

David McCormick MS, CVA

Robert H. Montgomery, III, Esq.

Brett Mansfield