The 24-hospital Veterinary Emergency Group has eliminated noncompete agreements, freeing its veterinarians to take other jobs if they wish.
“Noncompete agreements have absolutely nothing to do with preventing competition and everything to do with restricting job choice,” said David Glattstein, VEG’s president and co-founder. “While there is pending legislation nationally and across some states about eliminating noncompetes, we’re not ready to wait.”
The New York-based emergency hospital chain called on the industry to follow its lead and eliminate noncompetes for veterinarians.
“We want our employees to continue to brag about their jobs and make their friends jealous,” said CEO David Bessler, VMD. “One of VEG’s core values is openness, and this new benefit of eliminating noncompetes for all doctors reflects it.”
VEG also announced other benefits for its veterinarians:
- Student loan payments that start at $2,000 a year and grow to $5,250 annually.
- An equity shareholder opportunity allowing “all VEG doctors to participate in the success of the entire business.”
In other news, VEG reported a $100 million financing round co-led by D1 Capital Partners and Fidelity Management & Research Company LLC, and supported by Durable Capital Partners LP. “This third round of financing will bring total equity raised to an estimated $150 million since inception and positions VEG to continue to invest in its people by providing the best support system and work culture within the veterinary fields,” the company stated.
VEG hospitals are in California, Colorado, Florida, Georgia, Illinois, Massachusetts, New Jersey, New York and Texas.
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