July 28, 2026
The average veterinary practice valuation is rising, but that number doesn’t tell the whole story. In this Q2 2026 update, Rich Lester breaks down the widening gap in today’s market, what’s driving stronger valuations for certain practices, and what it means for practice owners today.
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Rich Lester walks through the key trends shaping the veterinary M&A market in Q2 2026. Drawing on Ackerman Group’s proprietary transaction data and real-time deal experience, this update explores why the average valuation has climbed while much of the market remains flat, what’s driving aggressive buyer competition for certain hospitals, and the industry trends that could influence buyer behavior moving forward.
Topics Covered:
- Why the 13.4x EBITDA average is rising, even as valuations for many practices remain flat
- How limited supply and buyer competition are driving stronger valuations for large, highly profitable hospitals
- What continued invoice declines and changing industry dynamics could mean for buyer behavior and the market ahead