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Randy Spencer, DVM

Dr. Randy Spencer is the hospital director at 1st Pet Veterinary Centers, which he owned before the establishment of the employee stock ownership plan. The Colorado State University graduate has special interests in internal medicine, dentistry, soft tissue surgery, ultrasound and practice management. He and his wife, Cheryl, have four daughters.

Dr. Randy Spencer is the hospital director at 1st Pet Veterinary Centers, which he owned before the establishment of the employee stock ownership plan. The Colorado State University graduate has special interests in internal medicine, dentistry, soft tissue surgery, ultrasound and practice management. He and his wife, Cheryl, have four daughters.

ESOP

Split Decision

Rather than sell his practice to the highest bidder, an Arizona veterinarian made his employees the owners.

According to one estimate, more than 14 million U.S. workers¬†participate in an ESOP, or employee stock ownership plan. In August 2021, that number increased by 300 when my 24-hour emergency, specialty and primary care clinics, 1st Pet Veterinary Centers, implemented an ESOP. As far as I know, we are one of the very few¬†veterinary practices […]

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