Purchase an Existing Veterinary Practice Entity (VPE)
When purchasing an existing VPE there are a few things to consider.
Ownership Structure:
- Will you be purchasing the VPE as a sole-proprietor or will you create a corporation (named or numbered corporation)?
- If you have or will be incorporating, an ABVMA permit is required.
- If there are multiple levels of shareholding corporations, each corporation must hold an ABVMA permit. Approved permit(s) should be in place prior to the date of the sale of the VPE.
To apply for an ABVMA permit, click here.
- If the practice is currently owned by a permit holder, will the corporation be sold with the practice, or will it remain owned by the seller? An existing permit can be transferred to the new owner. The ABVMA will require proof of the shareholder change.
VPE Name:
- Will you continue to use the existing name of the VPE? Please email pips@abvma.ca if you have any questions regarding re-naming an existing VPE prior to the transfer of ownership.
Other considerations:
- Controlled/narcotic/targeted drugs – will these be included in the sale and is there a verifiable inventory (i.e. invoices, acquisition logs and drug use logs)?
- If the sale includes radiation equipment, or Class 3b/4 lasers, does the seller have current ABVMA registration certificates and ARPIA inspection reports for the equipment?
For the seller:
- The existing owner (seller) of the VPE must notify the ABVMA of the upcoming ownership change by completing the VPE Change Request form, which is found on the VPE portal (login required), under VPE CHANGE FORMS. If the existing owner is a permit holder, they will be asked to indicate whether the corporation is included in the sale of the practice, or whether the seller will retain ownership of the corporation.
Confirmation of sale by both parties:
- Before the ownership of the VPE is changed with the ABVMA, the ABVMA office will confirm the details of the ownership change and require signatures from both parties.