Thirty-eight-location group prepared for sale; the growth system and its measured client-flow record became diligence assets in a 2.1× exit.

Specimen view. This client's compiled numbers stay sealed — by policy, not by mood. The structure below is exact. Where the engagement's data would appear, we show the industry reference range instead, each figure cited to its source. Qualified applicants walk the sealed file — data, never names — during diligence week.

NATURE OF THE ENGAGEMENT

Exit-track engagements open differently. Intake for a group of this size looks past the month's lead count to what a buyer's diligence team will look at: is new-client flow growing or shrinking, can it be attributed to a repeatable system, and does the record survive scrutiny. The industry backdrop makes this urgent — Vetsource data across 6,000 U.S. practices shows new clients down 8.6% year over year, with revenue growth propped up by pricing rather than volume. A group that can document the opposite trend is selling a different asset.

What gets operated on: the demand engine itself — centralized paid acquisition benchmarked against the $84 median veterinary cost-per-acquisition, recall infrastructure to compress the industry's stretched 85.8-day visit interval back toward historical cadence, and no-show control on the schedule. Every intervention is instrumented, because in this engagement type the measurement layer is half the deliverable: channel-attributed client flow, per-location revenue per patient against the industry's $622 average, all of it structured to drop into a data room.

What gets measured maps directly to what gets valued. Veterinary groups trade on EBITDA multiples that step up sharply with earnings scale — Q1 2025 data puts general practices at 5.3× in the $500K–1M band versus 8.6× at $1–5M — so the chart tracks the metrics that move a group up a band. Discharge came at the transaction. Figures on this chart are cited industry reference ranges holding the places where compiled engagement data sits; client records are sealed by policy.

VITALS — INDUSTRY BASELINE vs ADMEN TARGET

MEASURE	INDUSTRY	TARGET	Δ
New clients (YoY change, industry)	−8.6% YoY	+101.1% YoY	+109.7 pts
Client acquisition cost (paid search CPA)	$84.00	$35.28	−58%
Annual revenue per patient	$622	$927	+49%
Appointment no-show rate	9–11%	3–3.5%	−68%
EBITDA multiple band (general practice)	5.3× ($500K–1M EBITDA)	8.6× ($1–5M EBITDA band)	+62%

Targets apply Admen's published structural-lift factors to the cited industry baselines. They are planning references, not promises — the examination sets the real numbers.

SOURCES — REFERENCE RANGES

1. AVMA — Less foot traffic at veterinary practices — New clients down 8.6%; average annual revenue per patient $622; visit interval 85.8 vs 57.6 days; Vetsource, 6,000 practices
2. Benchmarketing — Veterinary Specialist Marketing Benchmarks — Google Ads CPA $84.00 median, Q1 2023–Q4 2024
3. Medigy — veterinary no-show reminder strategies — Veterinary no-show band 9–11% without structured reminders
4. First Page Sage — Veterinary Practice EBITDA & Valuation Multiples (Q1 2025) — General practice 5.3× at $500K–1M EBITDA; 8.6× at $1–5M; 11.3× at $5–10M

FILED BY

Admen '26

← RECORDS ROOM APPLY — 6 / QUARTER →