Employee-owned veterinary healthcare system, Galaxy Vets, to launch
by Katie Pfaff
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Galaxy Vets, slated to launch in the US, allows for an equity stake within the company by an array of staff, including technicians, administrative, and veterinary personnel. Galaxy offers several ways to become involved, including sales of practice or investment in Galaxy. The venture is the third in the space for CEO Dr. Ivan Zak, who also launched startups SmartFlow and Veterinary Integration Solutions.
"As a burned-out vet in the past, eradicating this chronic illness of our profession has become a very personal goal for me," said Dr. Ivan Zak, CEO. "My previous research and the management methodology I developed brought me closer to finding a solution to veterinary burnout. Having helped over 600 practices with workflow optimization in my SmartFlow days and then 3 years of consulting corporate groups on sustainable growth as the CEO of VIS, I believe I've found a formula to create a burnout-free veterinary organization where all employees feel happy and empowered."
Owners considering their business sales can roll 50% or more of the business into Galaxy and still maintain leadership of the practice. At the same time, owners not interested in selling can invest with Galaxy for lab work and referrals. Staff who become Galaxy employees are compensated at high rates, according to the company, and can potentially obtain network equity.
Galaxy plans to begin acquiring practices in a concentrated area and construct a new emergency and surgical hospital, creating a healthcare system across the related practices. The hospital would contain a reference laboratory.
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