Introducing Consolidate That!

6 min
Season 1
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William J. Griffin, VMD, and Dr. Ivan Zak are pleased to introduce the Consolidate That! Podcast. In this episode, we are talking about the reasons why we started this new initiative and what kinds of topics we’ll be discussing in the show. We want to share our domain knowledge and the meaningful insights we have gained from our experience working in the veterinary consolidation space.

Speakers

Dr. Ivan Zak has earned multiple accreditations in veterinary medicine. After graduating, he worked in 35 veterinary hospitals across Canada, where he was inspired to create Smart Flow, a first-in-the-industry workflow optimization system. Smart Flow was subsequently acquired by Fortune 500 company IDEXX, where he became General Manager of the Software division. After consulting 500+ practices worldwide on workflow optimization, he decided it was time for a new adventure. Dr. Ivan has a holistic view of the whole veterinary business market and he’s making his next step the creation of a more cohesive, unified platform that will ultimately benefit the veterinary professionals.

Transcript

Dr. Ivan Zak

You’re listening to consolidate that podcast. Hey listeners, we’re starting this new initiative new, podcast about consolidation. So let’s just chat about what is going to be about and why do we start doing it. Bill, how are you today?

William J. Griffin

I’m doing great. How are you, Ivan?

Dr. Ivan Zak

Pretty good. So we’re doing it. Why are we doing this? And what is this podcast about?

William J. Griffin

There this so much energy in the veterinary consolidator space whether it’s private equity, whether it’s software and technology, whether it’s an implementation of business processes. There’s a great opportunity to come in with our domain knowledge and pull this together into something meaningful.

Dr. Ivan Zak

All right. Well, then you name the couple the private equity, the technology. Who do you think will be interested in this podcast, and who should be the audience?

William J. Griffin

Hey, I think anyone that wants to be involved with consolidation in veterinary medicine should be on this podcast or listening to it.

Dr. Ivan Zak

All right. Well, and I guess, after this, most people would ask the question will who the hell are these guys, and why are they doing this? So why do we think we’re qualified?

William J. Griffin

Yeah. It’s a great question. So, you know the veterinary consolidation space in the US is in full steam ahead for the past ten years, but most of it has been the arbitrage, right, the acquisition, the roll-up. It is now entering a phase where the low-hanging fruit has been acquired, and now that needs to be some operational performance improvements at the practice level. And the combination of your experience in software, veterinary knowledge, and process workflow development and mine in veterinary consolidation, from an operations perspective and system integration, does create a pretty strong synergy to start to solve some of the core challenges for veterinary consolidators in the technology space.

Dr. Ivan Zak

Well, it sounds good to me. Hopefully, those that are listening are considering us qualified now. So what are we going to call this thing?

William J. Griffin

It’s a good question. You know, we had a few thoughts – Consolidate That! with an exclamation point at the end. I think sticks in my mind, how about you?

Dr. Ivan Zak

Yeah, that was the winner on the list of those that we considered. I don’t remember the list. I just voted for that one. So, so it be Сonsolidate That! – that’s what we’re going to call this thing. So he’s going to be just two of us chatting, or are we going to invite some people into it?

William J. Griffin

No, I think we’re going to have guests. We certainly want to bring in people in the veterinary space that have experience and knowledge to share, but we also want to bring in people outside of the veterinary space because consolidation and roll-ups and you know, that’s just the core business function that’s been going on in other verticals: human dentistry, physical therapy, you know, service companies, even human medicine. So there’s a lot to learn outside the vet space.

Dr. Ivan Zak

Well, and you and I, we traveled to some amazing human health care facilities, so finding some leaders from there and talking about our experience learning about that and you’re right. I think that the problems are actually the same across all the verticals where companies are trying to merge small businesses into an enterprise, and it would be cool to hear the opinions of the thought leaders in other verticals.

William J. Griffin

No doubt.

Dr. Ivan Zak

So this is quite a commitment with the last podcast that we deployed and so far into 70 episodes. We had to do it quite frequently. So what are we able to commit to right here. What do you think?

William J. Griffin

Yeah, I think weekly is a great place to start, and we can pivot. We can do it more often if we think that there’s a need. I’m happy with that. How about you?

Dr. Ivan Zak

Weekly is good, as long as we have the same amazing team on the background doing now all the groundwork, and we can just yep for an hour once a week. I think that would be good. Alright, so the previous podcast that I was involved in, we did sort of random topics. We had all kinds of people coming from the space, but I think that this one is a pretty overarching topic and or topics connected into one big strategy. So are we going to keep some sort of structure to it, or is it going to be random episodes?

William J. Griffin

Yeah. So one of the challenges of consolidation is that there is so much that needs to be done in a relatively short time frame. If you’re thinking about it from a value creation private equity point of view as well as the current market opportunity. So, in order to create something that’s meaningful and valuable, I think there does have to be some structure to it, and you and I did talk about this from a maturity point of view, and to take the perspective of what phase of maturity is a particular consolidator currently at, and what does that allow them to do effectively, and what is that basically preclude them from doing effectively. I think that’s a pretty good structure to work from.

Dr. Ivan Zak

Yeah. No, that sounds good. And so I think that we also discussed that maybe will slice them into some sort of seasons and based on that maturity model we will slice them so they’re kind of falling one another so it listener could actually walk the journey of consolidator growing from inception up to sort of a predictable operational organization.

William J. Griffin

Sounds like reality TV.

Dr. Ivan Zak

It could be a reality podcast. Maybe this another name. No, we have the name. So one thing that kind of circles in my mind before we jumped into all the maturity and everything. It’s super important to talk about how the value is created at the consolidator level. So, what do you think about that as the first topic next week?

William J. Griffin

Yeah, it has to be, you know, that creates alignment across the organization, from private equity through the executive team and then depending upon the model, you know, it even rolls down to the frontline staff potentially. So I think that’s a great first episode to dig into.

Dr. Ivan Zak

Well, done deal! That’s our commitment, then. We are going to call this Consolidate That! and hopefully, every week delivered the material that will be super exciting and with the guests from other verticals.
See you next week!