The Gatto McFerson Story
Our story began more than thirty years ago – in 1977 to be exact, with three employees in Pacific Palisades, CA. Fast forward and we now employ eleven individuals, including six CPA’s, and are located in the heart of Santa Monica, CA. What happened in between is where it gets interesting.
Originally, the focus of the firm was tax and accounting for all types of businesses. Fortunately, two of our earliest clients were veterinary hospitals, most noteably, Brentwood Pet Hospital. Shortly thereafter, we had an opportunity to help Dr. Mary Regal purchase Belwood Hospital for Cats. Lou Gatto was then asked to give a presentation at a veterinary conference in 1978 and then things started to gain momentum.
A colleague requested assistance from us to help veterinarians buying and selling hospitals with their cash flows and bank loans. This made us dive deep into the financials of veterinary medicine and begin to create and monitor standards that we still use today. With this newfound knowledge and interest in veterinary medicine, we purchased our first veterinary clinic in 1978 which we still own today. To accomodate a burgeoning client roster, we moved to a more central location, just off of the 3rd street promenade in Santa Monica.
Perhaps a bit gullible, or even naive, we started saying yes to all sorts of requests, mostly out of a sense of duty and privilege to assist companion animals. So when UC Davis called, we jumped at the opportunity to address the students and have continued to do so for over 30 years.
We continued on this sacred path which has included the facilitation to buy or sell over 320 hospitals and clinics. Not only is the bulk of our time spent in veterinary medicine today, but over 85% of the firm’s revenues are generated servicing veterinary interests. Today, we emphasize and advise on areas related to profitability, efficiency and tax strategy, while serving as a trusted partner for our clients from early stage to retirement.