CONSOLIDATOR OWNERSHIP OF GENERAL PRACTICES IS RAPIDLY ACCELERATING:
Based on current trends, corporate consolidators (many are owned and or controlled by private equity firms) could potentially own and operate up to 60% of all general veterinary practices within the next decade, representing approximately 75% (consolidators prefer to purchase larger practices which employ many doctors) of the total general practice market.

  • 2022: 25-30%***
  • 2021: 25%**
  • 2020: 20%*
    • The number of consolidator purchases overtook independent transactions for the first time.*
  • 2019: 16%*
  • 2017: 11%*
  • 2015: 9%*
  • 2013: 8%*
  • 2011: 6%*
  • 1986: 0%*
    • Veterinary Centers of America (VCA) was established in 1986. The company acquired its first veterinary hospital in 1987 and started the consolidation of veterinary practices.

CONSOLIDATOR OWNERSHIP OF SPECIALTY & EMERGENCY ANIMAL HOSPITALS:

  • Corporate consolidators own and operate approximately 75% of all specialty and emergency pet hospitals.**

*2021 Brakke Industry Overview
**2022 Brakke Industry Overview
***Veterinary Practice Market Consolidation – Veterinary Advantage (June 2022)

RECENT NEWS:

FTC Intervenes in Private Equity Firm’s Acquisition of Veterinary Hospitals, Citing Antitrust Concerns (6.18.22)
https://www.pets.care/news/2022/06/ftc-intervenes-in-private-equity-firms-acquisition-of-veterinary-hospitals-citing-antitrust-concerns/

  • “Private equity firms increasingly engage in roll up strategies that allow them to accrue market power off the Commission’s radar,” said Holly Vedova, Director of the Bureau of Competition. “The prior notice and approval provisions will ensure the Commission has full visibility into future consolidation and the ability to address it.”

RELATED:

  • FLIPPING ANIMAL HOSPITALS FOR BIG PROFITS:
    https://www.pets.care/flipping-animal-hospitals-for-big-profits/

    • Hospital groups can sell for hundreds of millions of dollars (often more than $1 billion) to another industry consolidator.
  • HOW PRIVATE EQUITY IS IMPACTING HUMAN MEDICINE:
    https://www.pets.care/private-equity-impact-on-human-medicine/

    • Understanding private equity’s growing investments (owns and or controls many veterinary consolidators) in human medicine will provide additional insight into its potential impact to the veterinary healthcare system including competition, quality of patient care, and medical costs for pets.