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Category: FRANCHISE

PetSmart to offer In-Store Practice Franchise to ‘Independent’ Veterinarians

July 28, 2022 Admin

PetSmart which operates approximately 1,660 pet stores in the U.S., Canada and Puerto Rico has recently ANNOUNCED that it plans…

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Posted in: FRANCHISE, Hospital Groups, PetSmart, Veterinary

Pet Supplies Plus Reaches 600 Store Locations Nationwide

December 20, 2021 Admin

Pet Supplies Plus, a leading pet retail franchise, operates in 36 states now has 600 pet stores open nationwide according…

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Posted in: FRANCHISE

Walk-In Vet Clinic PetWellClinic Signs 16-Unit Deal to open locations in Phoenix

December 5, 2021 Admin

PetWellClinic, a walk-in veterinary clinic franchise, recently SIGNED a 16-unit deal to open veterinary clinics in the Phoenix area. This…

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Posted in: FRANCHISE, Hospital Groups, Veterinary

Walk-In Veterinary Clinic Easyvet Secures $7M Series A Funding Round

November 14, 2021 Admin

Easyvet, a veterinary group committed to offering convenient and affordable walk-in veterinary care, recently ANNOUNCED the close of a $7…

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Posted in: FRANCHISE, Hospital Groups, Startups, Veterinary

RECENT POSTS

  • Chewy Expands Offerings with Launch of new Pet Health Insurance August 6, 2022
  • PetSmart to offer In-Store Practice Franchise to ‘Independent’ Veterinarians July 28, 2022

THE CORPORATIZATION OF VETERINARY MEDICINE

The acquisition of private-owned animal hospitals by corporate entities such as veterinary consolidators has accelerated over the last few years and is largely invisible to most pet owners because consolidators view the corporatization of a practice as a marketing liability. This has potentially serious implications for competition, pet healthcare costs and may worsen the labor shortage of veterinarians and veterinary technicians.
Are Consolidators Helping or Hurting Veterinary Medicine?

MANY CORPORATE PRACTICES LED BY NON-VETERINARIANS
Study conducted by CARE for Pets™ reveals that the majority of veterinary consolidators are led by non-veterinarians. These corporate entities employ a large infrastructure of managers and support teams and require significantly greater revenue to be profitable. Today, approximately 1 out of every 4 (based on recent trends, may reach more than 70% within the next 10 years) general veterinary practices in the U.S. are owned by corporate consolidators.
CEOs of Veterinary Consolidators and Hospital Groups

 

RECENT LABOR UNION ACTIVITY IN VETERINARY HEALTHCARE
First Veterinary Practice on East Coast to Unionize
According to union leadership, “today’s victory put the veterinary industry and private equity investors on notice about making sure their business model is based on equity and respect. We can’t afford to let this industry go the path of so many other industries destroyed by private equity investors. Now the hard work begins.”

 

IS QUALITY OF CARE IMPACTED BY COMMISSION-BASED PAY?
Today, approximately 2 out of 3 full-time associate veterinarians are paid on "production" (commission). Compensation models for veterinarians consist either of a fixed salary, salary plus commission, or 100% commission. This has potentially serious implications on the quality of veterinary medicine and on pet healthcare costs. A new hospital group startup is bucking the trend on commission pay and will compensate doctors "without the pressure of production-based salary."

 

CASE STUDY: Lack of Ownership Transparency in Veterinary Practices

Study conducted by CARE for Pets™ reveals many veterinary consolidators communicate misleading statements about ownership information on their individual practice websites which is most likely to create a false impression to pet owners that the practice is independently owned and locally operated.
Is Your 'Local' Animal Hospital Corporate-Owned?

IVPA EXCLUSIVE INTERVIEW: WHY LOCAL MATTERS
CARE for Pets™ interviews the President of the Independent Veterinary Practitioners Association (IVPA) about the importance, benefits, and value of independently owned & locally operated veterinary practices to pet owners and their companion animals, and to the local community.
Interview with Dr. Bonnie Bragdon of the IVPA

WILL PRIVATE EQUITY FIRMS TAKEOVER PET INDUSTRY?
Today, private equity (PE) firms control thousands of veterinary practices, major pet retailers, pet insurance companies and pet product manufacturers. Other pet care startups are founded and led by former employees of private equity firms and it is not disclosed in a transparent manner.
Private Equity Investments in Pet Care Industry

HEIGHTENED SCRUTINY OF PRIVATE EQUITY M&A DEALS
Today, approximately 3 out of 4 specialty and emergency clinics in the U.S. are owned by corporate consolidators. The Federal Trade Commission (FTC) says "private equity firms increasingly engage in roll up strategies that allow them to accrue market power off the commission’s radar."
FTC Intervenes PE Acquisition Citing Antitrust Concerns

 

ROLL-UPS MAY EXACERBATE VETERINARIAN SHORTAGE
Corporate entities such as private equity (PE) firms engage in roll-ups (buys several companies in the same market and merges them together) to enhance value and drive higher earnings. Veterinary consolidation leads to fewer and larger firms (less choices for workers). Its prioritization on short-term profits may pressure veterinarians to see high numbers of patients and adhere to appointment time restrictions. These working conditions may exacerbate the labor shortage of veterinarians and veterinary technicians.

 

ACCELERATE POSITIVE CHANGE IN PET CARE INDUSTRY
As "the internet's most trusted consumer advocate for the pet care industry,"™ CARE for Pets™ "seeks to empower pet owners to effect positive change in the pet care industry in order to provide the best care for your pet."
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