N.Y. Assemblymember Introduces Bill to Increase Transparency and Oversight of Veterinary Practice Market

September 15, 2025

On September 5, 2025 Assemblymember Linda B. Rosenthal, representing the 67th Assembly District in Manhattan, introduced Assembly Bill A9042 titled “Disclosure of Material Changes to Veterinary Clinics.” The proposed bill will require acquiring entities to file a notice with the Office of the Attorney General before purchasing a veterinary practice. The Attorney General would then determine if the purchase is against the public interest before it can be finalized.

This legislation would allow the Attorney General to prohibit the acquisition of a veterinary practice(s) that are against the public interest.

  • PURPOSE OF ASSEMBLY BILL A9042*
    “This bill will increase transparency and oversight of the veterinary clinic market by requiring notice to the Office of the Attorney General regarding material changes in ownership, operations, or financial structure.”
  • JUSTIFICATION FOR ASSEMBLY BILL A9042*
    “Over the past decade, major private equity firms have bought up many independent veterinary practices nationwide. An April 2024 article in the Atlantic reported that an estimated 25 to 30 percent of practices in the United States are now under the corporate umbrella. In response to such buyouts, pet owners have expressed decreased satisfaction’ with care, increased costs, and closures of essential emergency services.”

    “The same report details both the financial and emotional impact of these predatory purchasing practices. As of March 2024, veterinary service costs have surged 9.6% year over year, compared to just 3.5% for other goods and services. In August of 2023, Thrive Pet HealthCare, a private equity-backed company that owns more than 380 veterinary hospitals nationwide, closed the only 24-hour clinic serving Rochester’s metro area, citing a shortage of veterinarians. This decision took away a crucial avenue to much-needed pet care, with zero public input.”

    “In 2017, private equity firms spent $2.39 billion to purchase practices, and by 2020 that number grew to $14.27 billion. This corporate consolidation makes it burdensome for pet owners to find the smaller, independent practices they have grown accustomed to and which can offer more personalized care and lower costs than corporate practices.”

    “This legislation would require entities to file a notice with the Office of the Attorney General before purchasing clinics. The Attorney General would then determine if the purchase is against the public interest before it can be finalized. This ensures that the transaction keeps veterinary care accessible, affordable, and focused on the health and welfare of pets, rather than maximizing corporate profits.”

*According to the A09042 Memo section.

RELATED:

  • Corporate Consolidator Ownership of Veterinary Practices
    https://www.pets.care/corporate-consolidator-ownership-of-veterinary-practices/

    • The vast majority of practice acquisitions are not required to be reported to the Federal Trade Commission (FTC) which seeks to protect consumers and promote competition. Based on current trends, corporate consolidators (many are backed by private equity firms) could potentially own and operate up to 60% of all general veterinary practices within the next decade.