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Inspire Veterinary Partners Launches Company-Wide Incentive Program

1. Inspire Veterinary Partners launches employee incentive and recognition program. 2. Quality work-life survey shows positive leader job satisfaction. 3. New program aims to reward clinic and company leaders for achievements. 4. Employee feedback highlights improved quality of life and job satisfaction. 5. Future expansions and compensation enhancements are planned within the year.

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FAQ

Why Bullish?

The new incentive program aligns with performance, likely enhancing productivity and retention. Historical results show that employee satisfaction can lead to better company performance, as seen in other healthcare sectors.

How important is it?

The implementation of an incentive program indicates a strategic focus on workforce quality and satisfaction, crucial for company growth. Given the competitive landscape in veterinary care, a satisfied workforce can be a key differentiator.

Why Short Term?

Incentive programs typically yield immediate effects on employee morale and performance. Recent improvements in job satisfaction may quickly translate to financial performance indicators.

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Recent quality of work-life survey demonstrates clinic leader and employee satisfaction, underscoring value of Inspire's approach as new incentive program rolls out Inspire Veterinary Partners, Inc. (NASDAQ:IVP) ("Inspire" or the "Company"), an owner and provider of pet health care services throughout the U.S., today announced the launch of its company-wide incentive and recognition program, providing vital new engagement tools to provide new avenues to wealth for all employees across their clinic network. The annual incentive program, aligned with the Company's revenue and earnings targets, will monetarily reward clinic and company leaders across the organization for target achievements and launches concurrent to results of the Company's recent quality of work-life survey showing positive leader job satisfaction."The first half of this year has been outstanding for Inspire Veterinary Partners with new doctors and practice managers hired, our investment in development for all team members, and the launch of our novel incentive program designed to reward performance achievement at Inspire," shared Lynley Kees, Chief People Officer. "We are particularly proud that our newest doctors are sharing the ways that joining Inspire has positively impacted their lives."With a new recognition system and implementation of the new incentive plan, Inspire is committed to investing in its people, further strengthening what it believes is among the most comprehensive total compensation packages in its industry.The quality of work-life survey, conducted with doctors across the country, and facilitated by recruiting and human resources leadership found positive leader job satisfaction, as well as positive feedback on the plan for upcoming incentives."Transitioning from the ER to the Inspire-owned clinic environment has been life-changing for me," said Dr. Christopher Korte, Associate Doctor, Pets & Friends Animal Hospital, Pueblo, Colorado, "My stress levels have significantly decreased, and my overall quality of life has improved beyond measure. The warmth and camaraderie here have made all the difference, and I feel blessed to be part of such a wonderful community.""I am very happy at Pony Express Animal Hospital, an Inspire-owned clinic in Ohio, and so glad I made the move," shared Dr. Lauren Hudson, Associate Doctor, The Pony Express Animal Hospital, Xenia, Ohio. "My schedule and caseload are perfect, and my quality of life has improved dramatically! Being able to see my child and husband and not be on call 24/7 has helped me both physically and mentally. I can complete my notes and have adequate time to get everything done that I need to as a doctor here."The Company plans more additions to its reward and compensation package within the year.About Inspire Veterinary Partners, Inc.Inspire Veterinary Partners is an owner/operator of veterinary hospitals in the US. As the Company expands, it expects to acquire additional veterinary hospitals, including general practice, mixed animal facilities, and critical and emergency care.For more information, please visit: www.inspirevet.com or connect with us on Facebook, LinkedIn, or X.Forward-Looking StatementsThis press release contains forward-looking statements regarding expectations about additions to employee incentive programs and future acquisitions. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Factors that could cause actual results to differ include, but are not limited to, risks and uncertainties related to obtaining additional capital and sourcing and successfully completing future acquisitions, or factors that result in changes to the Company's anticipated results of operations related to the Company's business or acquisitions, such as changes in consumer preferences, the inability to successfully integrate acquisitions, competition and general economic conditions. These and other risks and uncertainties are described more fully in the section captioned "Risk Factors" in the Company's public filings made with the Securities and Exchange Commission, including its Annual Report on Form 10-K. Forward-looking statements contained in this announcement are made as of this date, and the Company undertakes no duty to update such information except as required under applicable law.ContactGeneral InquiresMorgan Wood[email protected]MediaMatthew Cossel, CORE PR[email protected]SOURCE: INSPIRE VETERINARY PARTNERS, INC.

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