{"id":1852,"date":"2018-01-01T15:46:32","date_gmt":"2018-01-01T23:46:32","guid":{"rendered":"http:\/\/phosdev.com\/todaysveterinarybusiness\/?p=1852"},"modified":"2022-03-11T17:40:54","modified_gmt":"2022-03-11T17:40:54","slug":"deep-pocketed-kkr-buys-petvet-chain","status":"publish","type":"post","link":"https:\/\/navc.sitepreview.app\/todaysveterinarybusiness.com\/deep-pocketed-kkr-buys-petvet-chain\/","title":{"rendered":"Deep-pocketed KKR buys PetVet chain"},"content":{"rendered":"

The global investment firm KKR & Co. has agreed to purchase the 125-hospital PetVet Care Centers network for an undisclosed price.<\/p>\n

The transaction, announced Dec. 27, is expected to lead to further expansion of PetVet<\/a>, which has moved into 22 states since its founding in 2012. The Westport, Connecticut, company\u2019s strategy is to purchase existing general, emergency or specialty hospitals and maintain the practice identity and culture.<\/p>\n

\u201cWe are excited to partner with PetVet and its affiliated veterinarians to accelerate the company\u2019s track record of organic and acquisitive growth,\u201d said Max Lin, a member of KKR\u2019s health care team.<\/p>\n

KKR, which manages more than $150 billion in assets across a wide range of industries, is acquiring PetVet<\/a> from a number of shareholders, including the Ontario Teachers\u2019 Pension Plan and the private-equity firm L Catterton.<\/p>\n

\u201cWith KKR as our new partner, we look forward to working with their team to realize our vision of making a difference in the lives of our pet patients and pet parents as well as veterinarians and employees,\u201d said Gino Volpacchio, PetVet\u2019s founder and CEO.<\/p>\n

PetVet is far from the largest corporate practice network. Banfield Pet Hospital and VCA, both owned by Mars Inc., operate about 1,000 and 750 clinics, respectively.<\/p>\n

PetVet\u2019s highest-ranking veterinary executive is chief medical officer Larry Berkwitt, DVM, DACVIM.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Connecticut-based network will likely expand beyond 125 hospitals.<\/p>\n","protected":false},"author":45,"featured_media":1854,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"iawp_total_views":0,"footnotes":""},"categories":[90],"tags":[],"class_list":["post-1852","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-online","column-news","clinical_topics-news"],"acf":{"hide_sidebar":false,"hide_sidebar_ad":false,"hide_all_ads":false},"yoast_head":"\nDeep-pocketed KKR buys PetVet chain | Today's Veterinary Business<\/title>\n<meta name=\"description\" content=\"The Connecticut-based network will likely expand beyond 125 hospitals.\" \/>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Deep-pocketed KKR buys PetVet chain\" \/>\n<meta property=\"og:description\" content=\"The Connecticut-based network will likely expand beyond 125 hospitals.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/navc.sitepreview.app\/todaysveterinarybusiness.com\/deep-pocketed-kkr-buys-petvet-chain\/\" \/>\n<meta property=\"og:site_name\" content=\"Today's Veterinary Business\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/todaysveterinarybusiness\" \/>\n<meta property=\"article:published_time\" content=\"2018-01-01T23:46:32+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-03-11T17:40:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/navc.sitepreview.app\/todaysveterinarybusiness.com\/wp-content\/uploads\/sites\/2\/2018\/01\/Handshake.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"725\" \/>\n\t<meta property=\"og:image:height\" content=\"323\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Louise S. 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