In October 2022, members of our National Veterinary Law Group including Peter Tanella, Esq., Melody M. Lins, Esq., Eileen Funnell, Esq., and Alan Freeman, Esq. worked with a client on the purchase of a veterinary practice under an extremely short timeframe in order to avoid increased interest rates. In a span of only 18 days from the execution of a letter of intent, our team negotiated and closed the deal.
Our client purchased a Maryland veterinary practice for $3,800,000. Once engaged, our team immediately formed the purchasing entity, prepared organizational documents, advised our client on compliance with state veterinary board regulations, conducted legal diligence, and drafted deal documents, including a real estate lease agreement. The matter was unique not only because of the short timeframe but also because the buyers were intimately involved in the sellers’ practice, which presented unique challenges and opportunities in negotiating the deal.