Luke Hedlund | Tucannon Partners
In This Episode
“Do you see an opportunity in your business that maybe you’re not able to capture because you’re too focused on the day-to-day?”
That’s the question Luke Hedlund from Tucannon Partners poses to veterinary business owners, and it’s at the heart of his unique entrepreneurial approach. Instead of starting a company from scratch, Luke is looking to acquire an established vet business where founders are burnt out or owners are ready to retire.
Shawn Wilkie and Dr. Ivan Zak dive into Luke’s strategy of finding a company with loyal customers and proven services, then bringing in fresh leadership and operational improvements. Luke has been at this for about a year, talking with roughly 100 companies and learning about the VetMed landscape. He describes the current market as a “barbell” – lots of small startups and big established companies, but not much in between.
His focus isn’t just on acquisition – it’s on bringing innovation to existing operations. Luke gets excited about improving what he calls “innovating within the four walls of a company.” This includes refining meeting structures, developing better communication systems, and implementing decision documentation processes that help companies make smarter choices.
Whether you’re a practice owner considering your options, an innovator looking for sustainable growth models, or someone interested in the business side of veterinary medicine, this conversation offers practical insights into a different approach to building value in the industry.
Learn more about Tucannon Partners.
Luke Hedlund recommends “The Manager’s Handbook: Five Simple Steps to Build a Team, Stay Focused, Make Better Decisions, and Crush Your Competition” by David Dodson for practical leadership frameworks.
Topics Covered
- Identifying vet businesses with growth potential
- Making meaningful improvements
- Why vet startups and mature businesses often operate in different worlds
- Opportunities in diagnostic imaging that most practices miss