Recently, members of our National Veterinary Law Group, including Peter Tanella, Esq., Maria Groeneveld, Esq. and Eileen Funnell, Esq., finished a three-part transaction for owners of a Pennsylvania veterinary practice looking to buy out one of the existing practice owners, form a management services organization (MSO), and bring their practice manager on as an owner of that MSO.
Once engaged, our team drafted documents for the buyout of the veterinary practice’s existing owner and revised the practice’s organizational documents to reflect the new ownership. Upon completion of the buyout, our team collaborated with our firm’s tax counsel and the practice’s accountant to form the MSO in compliance with Pennsylvania state law and veterinary board regulations. Our team prepared organizational documents for the new MSO and worked with our clients to structure the relationship between the MSO and the practice. In the last part of the transaction, our team drafted documents enabling the practice manager to purchase an interest and become an owner of the new MSO.
This transaction was unique because of the complex legal and tax considerations involved in structuring the relationship between the MSO and our client’s veterinary practice. In just a few months, our team was able to assist our clients with two separate transfers of ownership and the creation of the new business model.
To learn more, please contact Peter Tanella at ptanella@mblawfirm.com.
These stories are successful case results from our attorneys. Please note that results may vary depending on your particular facts and legal circumstances.