Leading the Pack: Top Largest Veterinary Companies Today

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The largest veterinary companies today are truly industry leaders. They offer a wide range of products and services that cater to the needs of veterinarians, pet owners, and animals alike.

Elanco Animal Health is one such company, with a portfolio of innovative products that include parasiticides and vaccines. Their commitment to animal health is evident in their work to develop new treatments and solutions.

Boehringer Ingelheim Animal Health is another prominent player, with a focus on companion animal health. They offer a range of products, from antibiotics to parasiticides, that help to keep pets healthy and happy.

IDEXX Laboratories is a leader in veterinary diagnostics, providing innovative solutions to help veterinarians make accurate diagnoses and develop effective treatment plans.

Expand your knowledge: Health and Safety in Veterinary Practice

Largest Veterinary Companies

CareVet is a leading veterinary company founded in 2018 by Dr. Kent Thornberry. It operates over 100 hospitals across 30+ states. CareVet offers a range of business support services, including customized career growth plans, a suite of 16 innovative DVM benefits, and revenue-sharing programs.

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AniCura is a prominent veterinary care provider in Europe, established in 2011 and headquartered in Sweden. It operates a network of nearly 500 clinics across 15 countries. AniCura emphasizes high-quality veterinary practices and focuses on preventive care, specialized treatments, and advanced diagnostics.

Mars Veterinary Health is a healthcare organization based in the United States, founded in 2018. It operates a network of over 3,000 clinics globally, providing a comprehensive range of care that includes preventive, general, specialty, and emergency veterinary services.

Here are some key statistics on the largest veterinary companies:

United Veterinary Care operates 115 clinics in 23 states, with a focus on the Southeast U.S. It offers a range of business support services, including centralized backup in operations, support in marketing and IT, and handling back-office finance and accounting.

National Associates

National Veterinary Associates (NVA) is a leading veterinary company with a strong presence in the industry. Founded in 1996, NVA has grown to become one of the largest veterinary companies in the world.

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NVA has an impressive network of hospitals, with over 1400+ locations in the US, Canada, Australia, New Zealand, and Singapore. This extensive reach allows NVA to provide top-notch veterinary services to a vast number of pets and their owners.

NVA's partnership model gives vet practice owners the freedom to run their businesses as they see fit, while still receiving expert back-office assistance and advanced technology support. This support includes accounting, legal, operations, and marketing help, as well as IT assistance and a Client Service Center.

NVA's focus on shared core values such as teamwork, integrity, and innovation has helped build a strong and supportive community of vet practice owners.

CareVet

CareVet is a prominent veterinary care provider with a strong presence in the US. Founded in 2018 by Dr. Kent Thornberry, the company has grown to own and operate over 100 hospitals across 30+ states.

CareVet offers a range of business support services to its practices, including a customized career growth plan, a suite of innovative DVM benefits, and revenue-sharing programs. This support helps practices focus on delivering high-quality care to their patients.

Here are some key benefits of partnering with CareVet:

Customized Career Growth Plan
The Ultimate CarePackage, a suite of 16 innovative DVM benefits
Specialty Equipment and Training
Revenue-Sharing Program

CareVet's flexible acquisition structuring and cash-based sale options make it an attractive partner for veterinary practices looking for support and growth opportunities.

Vetwest Animal Hospitals

Credit: youtube.com, About Vetwest Animal Hospitals - Perth, Western Australia

Vetwest Animal Hospitals is a private equity-owned veterinary clinic network founded in 1993. They operate 16 clinics across Perth, Australia.

Their headquarters is located in Osborne Park, Western Australia. They have a workforce of approximately 83 employees.

Vetwest offers a wide range of services, including preventive care, medical treatments, and emergency services. They cater to various pets such as dogs, cats, and small mammals.

Here are some key statistics about Vetwest Animal Hospitals:

Vetwest emphasizes the importance of pet health through initiatives like their Total Wellness Plan. This encourages regular check-ups and vaccinations.

Amerivet

Amerivet is a significant player in the veterinary industry, founded in 2016 by Imperial Capital as a sister company of VetStrategy. It's a subsidiary of AEA Investors LP and the Abu Dhabi Investment Authority.

Amerivet has expanded rapidly, with 187 veterinary practices across 35 states in the US. That's a huge network of clinics, and they're still growing - they've added 53 new practices since January 2022 alone.

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To qualify for Amerivet's support, clinics need to have a strong team and a passion for animals. They also need to have at least two veterinarians on staff, and be looking to grow and adapt their business.

Amerivet's approach to ownership is flexible, with options for majority sales, 100 percent sales, and other types of deals. They tailor their approach to each individual practice, rather than using a one-size-fits-all approach.

Here are some of the business support services Amerivet offers to its partner clinics:

Administrative support in areas including payroll, vendor relations, marketing, operations, HR, and IT
Profit-sharing plans for owners who stay with the practice
401(k) employer-sponsored retirement plan
Significant cost savings on supplies due to economies of scale
Retention of a clinic’s brand name, logo, schedule, management, vendors, etc.
Full freedom in clinical practices and standards
Continuing education and professional development opportunities
Ability to maximize retirement proceeds when the partner chooses to step down

Notable Veterinary Companies

IVC Evidensia is a prominent veterinary care provider that operates a vast network of approximately 2,500 clinics and hospitals across 20 countries. They secured significant funding of over $4.2 billion in February 2021.

VetStrategy, on the other hand, has been operational since 2006 and offers a wide range of veterinary care services. They have a workforce of around 630 employees and have been recognized for their commitment to sustainability and social responsibility.

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Here are some notable veterinary companies:

IVC Evidensia: 2,500 clinics and hospitals across 20 countries
VetStrategy: 630 employees and a commitment to sustainability and social responsibility
Vets Now: 60 clinics and hospitals in the UK, treating approximately 200,000 small animals each year
Bond Vet: 31 hospitals on the U.S. East Coast and offers virtual visits and easy appointments

MedVet

MedVet is a network of emergency and specialty hospitals founded in 1988 by veterinarians for veterinarians.

MedVet has grown to 36 hospitals across 15 states, with three more added since January 2022.

MedVet is owned by employee-veterinarians, along with investors from Goldman Sachs Merchant Banking Division, SkyKnight Capital Fund, and Stonehenge Partners.

Consider reading: Humane Veterinary Hospitals Reading

Vet Strategy

Vet Strategy is a Canadian veterinary service provider that has been operational since 2006. They offer a wide range of veterinary care, including emergency and specialty services, and have built a robust network of clinics and hospitals throughout Canada.

They have over 360 hospitals in all Canadian provinces, making them a significant player in the Canadian veterinary market. Their services are available nationwide in Canada.

Vet Strategy merged with IVC Evidensia in November 2021, after initially receiving investment from Berkshire Private Equity in July 2020. This strategic move has likely helped them expand their reach and services.

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Their business support offerings include facilitating a smooth transition, comprehensive administration services, assistance in all stages of an employee's journey, premises maintenance, and full support in digital marketing, training, and implementation of innovative technologies.

Here is a summary of their business support offerings:

Facilitating a smooth transition
Comprehensive administration services (including accounting, payroll, banking, taxes, etc.)
Assistance in all stages of an employee’s journey, from recruitment to career development and continuing education
Premises maintenance (leasing, building, repairs, and equipment upgrades)
Full support in digital marketing, training, and implementation of innovative technologies

Vet Strategy is dedicated to enhancing the well-being of animals and their caregivers, evident in their initiatives aimed at supporting veterinary professionals.

EverVet

EverVet is a notable veterinary company founded in 2020 by Joe Luceri and Len Podolsky.

EverVet Partners was established to support veterinary clinics in growth and providing best-in-class care to pets and pet parents.

EverVet has a strong presence with 25 hospitals across 8 states, covering the Mid-Atlantic, Midwest, Northeast, and Southeast regions.

EverVet Partners is backed by investors Freeman Spogli & Co and Tailwind Capital, indicating a solid financial foundation for the company's growth and expansion.

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IVC Evidensia

IVC Evidensia is a prominent veterinary care provider with a strong presence in Europe. Founded in 2019, the company is headquartered in Keynsham, England.

Credit: youtube.com, We are IVC Evidensia

IVC Evidensia operates a vast network of approximately 2,500 clinics and hospitals across 20 countries. This extensive reach allows the company to cater to pet owners seeking veterinary care and assist veterinary practices in enhancing their operations.

The company prioritizes continuous professional development for its staff, ensuring they remain at the forefront of veterinary medicine. This commitment to staff development is reflected in their Positive Pawprint sustainability strategy, which emphasizes ethical practices and environmental responsibility.

IVC Evidensia secured significant funding in February 2021, amounting to over $4.2 billion. This substantial investment underscores the confidence investors have in the company's growth trajectory and operational model.

Here's a breakdown of IVC Evidensia's global presence:

United Care

United Care is a notable veterinary company that offers a range of services to pet owners. They have a strong presence in the Southeast US, with 115 clinics in 23 states as of January 2022.

United Care was founded in 2019 and acquired by Nordic Capital in 2021. They have a unique ownership agreement that allows practice sellers to retain a stake in the company.

Credit: youtube.com, The Corporate Takeover of Veterinary Medicine and how it affects you and your pet.

One of the key benefits of partnering with United Care is their centralized backup in operations, which includes support in marketing, IT, and finance. This can be a huge relief for practice owners who want to focus on providing excellent care to their patients.

United Care also offers a range of business support services, including leadership and mentorship opportunities, personal development plans, and continuing education programs. These resources can help local teams stay up-to-date with the latest industry developments and best practices.

Here are some key statistics about United Care's business support services:

United Care's commitment to supporting local teams and preserving the unique identity of each hospital is truly commendable.

Heart Paw

Heart Paw is a notable veterinary company that has been making waves since its founding in 2018 by George Melillo, VMD and Teresa Fox.

Heart Paw is backed by Waud Capital Partners (PE) since 2018, providing financial support to help the company grow.

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With 28 locations across Pennsylvania, Delaware, New Jersey, Connecticut, Maryland, Virginia, and New York, Heart Paw is expanding its reach to provide more veterinary services to pet owners.

They buy in locations as far west as Kentucky, Ohio, and Tennessee, showing their commitment to serving a wide geographic area.

To be eligible to partner with Heart Paw, independent practices need to generate more than $1M in gross revenues, or pet resorts and daycare locations need to have a plan to add veterinary services.

Heart Paw offers its partners comprehensive back-office support, including streamlined operations, marketing, HR, accounting, payroll, recruiting, and technology.

They also provide clinical freedom, allowing veterinarians to make decisions without interference, and training opportunities to help partners improve their skills.

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Western

Western Veterinary Partners is a notable player in the veterinary industry. They were founded in 2019 and are owned by Tyree & D'Angelo Partners, a private equity firm.

Their business model involves partnering with veterinary practices of all sizes, with each decision made on an individual basis. This means that they don't have a one-size-fits-all approach and can tailor their support to meet the unique needs of each practice.

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Western Veterinary Partners prefers not to disclose the number of hospitals they own, but they do operate in the Western U.S. across 11 states. They're committed to maintaining the local brand identity and full clinical autonomy of each partner hospital.

Here are some of the business support services they offer:

Efficient backup in non-clinical, administrative functions such as accounting and finance, HR, inventory management, marketing, talent acquisition, etc.
A team of professional pet care executives to assist partner hospitals in business tasks in the post-transition period.
Maintaining the local brand identity and full clinical autonomy.
Economies of scale (financial benefits from partnering with a larger network).

Bond Vet

Bond Vet is a notable veterinary company that has made a significant impact in the industry. It was founded in 2019 by Lukas Keindl, Mo Punjani, and Zay Satchu.

The company has received funding from Warburg Pincus and Talisman Capital, which has enabled it to grow and expand its services. Bond Vet has a total of 31 hospitals across the U.S. East Coast.

One of the unique features of Bond Vet is its focus on providing business support to pet owners. This includes virtual visits, easy appointments, and compassionate vets.

Modern Animal

Modern Animal is a notable veterinary company that has been making waves in the industry since its founding in 2019 by Steven Eidelman and Ben Jacobs.

Credit: youtube.com, Innovating Veterinary Care: Modern Animal's Expansion and Challenges

They've managed to raise capital from leading venture capital funds, including True Ventures, Addition, Founders Fund, and Upfront Ventures.

Modern Animal has a strong presence in California, with a network of 5 hospitals that provide a range of services to pet owners.

One of the unique aspects of Modern Animal is their commitment to fair staff compensation, which is a refreshing change in an industry where burnout is all too common.

Their business model also includes virtual care options, annual membership plans with no exam fees, and collaborative medicine, which aims to bring together the best medical minds to provide top-notch care for pets.

Here are some of the business support options offered by Modern Animal:

Annual membership (No exam fees)
Virtual Care
Fair Staff Compensation
Collaborative medicine

Consolidation and Mergers

Veterinary consolidation is a form of investment where bigger veterinary groups buy smaller ones to boost profits and often re-sell a revitalized business in 5-7 years.

There are different types of veterinary consolidators, including veterinarian-led groups, private equity backed consolidators, wealthy family enterprises, and vet groups buying pet-store-based clinics.

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Veterinarian-led groups, such as AZ Pet Vet and MedVet, are veterinarian-owned hospitals that have merged or partnered with fellow practices. They grow at a slower pace but develop more solid networks.

Private equity backed consolidators, like VetCor and Destination Pet, are aimed at fast growth, maximizing returns and additional mergers and acquisitions.

Wealthy family enterprises, such as Mars in the U.S. or the Desmarais family in Canada, buy vet clinics or smaller vet groups to diversify their sources of income.

Vet groups buying pet-store-based clinics, like VIP Pet Care in Walmart and Thrive (Pathway Veterinary Alliance's brand in Petco), enable making pet care more affordable and benefit from combining retail and veterinary care at multiple locations.

Here's a list of some of the largest veterinary consolidators in the industry:

Let's dive into the top services offered by the largest veterinary companies.

Boehringer Ingelheim offers a comprehensive range of veterinary services, including animal health products and services for companion and farm animals.

Credit: youtube.com, Inside the New Breed of Vet Consolidation: Shawn’s Journey from 0 to 200+ Veterinary Deals

Their services cater to a wide range of species, from dogs and cats to horses and livestock.

Boehringer Ingelheim's animal health products are used in over 90 countries worldwide.

Their services also include research and development of new treatments and products.

Elanco Animal Health offers a variety of services, including animal health products and services for companion and farm animals.

Their services include livestock solutions and companion animal health products.

Elanco Animal Health's services are used in over 75 countries worldwide.