Posted Feb. 18, 2011
Iowa State University College of Veterinary Medicine will purchase a 24-hour Des Moines veterinary hospital this year. According to the veterinary college, the resulting partnership will enhance the clinical and educational experiences for its students and residents.
The Iowa Board of Regents on Jan. 13 unanimously approved the $4.6 million purchase of Iowa Veterinary Specialties, which will be handled through a nonprofit business entity, ISU Veterinary Services Corp. The resulting affiliation between IVS and the ISU veterinary college's Lloyd Veterinary Medical Center in Ames, about 35 miles north of Des Moines, "will bring together unique strengths and resources to provide enhanced veterinary care in central Iowa," according to an ISU press release.
Iowa Veterinary Specialties is a modern, 7,200-square-foot private veterinary hospital that includes a 24-hour small animal emergency facility and surgical and internal medicine specialty practices. The acquisition of IVS includes the real estate, equipment, and active veterinary practice. Approximately $1.6 million of the purchase price will be financed through a Wells Fargo master lease; the remaining $3 million will be financed through an ISU trust, according to the regent's meeting agenda.
ISU-VSC is to be organized for charitable, scientific, and educational purposes and will provide "students and residents with opportunities for learning, faculty and staff of the ISU College of Veterinary Medicine with opportunities to assist in the provision of quality veterinary health care in the greater Des Moines area, researchers at the ISU College of Veterinary Medicine with opportunities to advance the practice of veterinary medicine, ... and a physical location to conduct continuing education programs for veterinarians and their staff in the greater Des Moines area," according to the university's request to the board of regents.
Iowa Veterinary Specialties and the Lloyd Veterinary Medical Center will continue to focus on emergency and specialty care and will operate independently in their current locations.
"The timing is right for creating this affiliation," said Dr. L.A. Holmes, a founder of IVS, in the press release. "Our hospital has grown considerably throughout its 30-year history and is well positioned for future growth. Iowa State can help IVS recognize its potential much sooner than would otherwise be possible."
IVS was founded in 1980 as an "after hours" emergency hospital by 18 Des Moines veterinarians. IVS staff includes six full-time emergency doctors, two surgeons, one internist, a dermatologist, 30 veterinary technicians, and six receptionists. The hospital serves more than 7,500 patients annually.
The Lloyd Veterinary Medical Center provides veterinary emergency and specialty care as a referral hospital for large and small animals throughout Iowa and the region. The LVMC serves more than 11,000 small animal patients annually.