Veterinary Acquisitions in 2023

Nextmune, a global specialty animal-health company, acquired VetBiotek, a developer of veterinary dermatology topical formulations including MicroSilver BG and Ceramide III products. The acquisition expands Nextmune’s dermatology portfolio and aims to improve production, packaging, distribution and access of VetBiotek’s products to veterinary clinics and distributors.

Turning Rock Partners, a New York-based private investment firm, provided a growth investment in Best Friends Pet Care, an employee-owned premium pet services operator headquartered in Norwalk, Connecticut. The capital will support Best Friends' national footprint expansion and an aggressive acquisitive growth strategy; existing shareholders also participated in the financing.

Revival Animal Health, a portfolio company of Incline Equity Partners, has acquired Creative Science, a St. Louis–based supplier of pet and veterinary health products. The deal expands Revival’s product and service offerings to veterinary professionals, breeders and shelters and represents an add-on acquisition to Revival’s platform.

Animal Dermatology Group, the largest veterinary dermatology platform in the U.S., acquired two specialty veterinary dermatology practices: Animal Dermatology & Allergy of Rocklin, California and SkinVet Clinic of Lake Oswego, Oregon. The transactions expand ADG's footprint in Northern California and the Pacific Northwest as part of its continued platform growth.

Paw Prosper, a pet health and wellness platform based in Aurora, Colorado, has acquired K9 Carts, the original pet wheelchair company founded in 1961. The acquisition adds K9 Carts' US-made, orthopedic-designed dog wheelchairs to Paw Prosper's portfolio of preventative, supportive and rehabilitative pet brands and aims to expand Paw Prosper's mobility and rehabilitative offerings for low-mobility pets.

Medivet has acquired a majority stake in Torquay-based Animal Health Centre through its Branch Partnership model, with practice owner Marni Miller retaining equity and becoming a Branch Partner. The clinic's team of 4 vets and 6 nurses join Medivet as part of the company's push to grow its UK footprint by 50% toward a network of over 600 practices.

WellHaven PetHealth, a Martis Capital‑backed veterinary platform, acquired Blue Cross Veterinary Clinic in Arizona in October 2023 as an add‑on to its multi‑regional platform. The acquisition expands WellHaven’s footprint into Arizona and brings the platform to more than 40 hospitals across six active markets.

Varsity Healthcare Partners completed a strategic growth investment to acquire VetEvolve, a Richmond, Virginia-based multi-location veterinary care platform. The transaction was a sale by Align Capital Partners; VetEvolve operates 32+ clinics across the Mid-Atlantic and employs over 600 team members, and VHP will partner with management to expand the platform into new geographies.

EQT has agreed to acquire VetPartners, the largest provider of veterinary and animal health services in Australia and New Zealand, from National Veterinary Associates. VetPartners operates a network of 267 clinics and specialty hospitals with over 4,300 clinical and support staff; EQT says it will invest in diagnostic equipment, technology, recruitment and training to support continued growth and improved clinical outcomes. The transaction is subject to customary approvals and is expected to close around the end of the calendar year.

L Catterton, a global consumer-focused private equity firm, has made a strategic growth investment in Withmal, a Tokyo-based veterinary services group. The investment will support Withmal's expansion across Japan and help accelerate clinic rollouts while addressing succession challenges among small clinic owners.

Revival Animal Health has purchased Breeder's Choice, a Rochester Hills, Michigan-based distributor of equine reproductive supplies. The acquisition expands Revival’s reproductive and neonatal health offerings into the equine market and brings Breeder's Choice’s expertise in semen collection, processing, and shipping into Revival’s portfolio.

Destination Pet has acquired Pet Palace Pet Boarding Resort, a luxury pet care operator with 11 locations across Ohio, Indiana, North Carolina and Pennsylvania and more than 500 employees. The acquisition expands Destination Pet’s national pet resort and clinic network, adds a luxury resort brand, and enables wider rollout of Destination Pet’s connected care model and Yourgi app; Pet Palace founder Brian Hudock will remain as a strategic advisor.

Perwyn has completed the acquisition of a collection of UK veterinary clinics and rebranded the group as Kin Vet Community, appointing Ciara McCormack MVB as CEO. The private equity firm says the investment establishes a veterinary platform to accelerate growth in the resilient UK pet-care market.

Argenta has agreed to acquire the CRO services business of Midwest Veterinary Services, Inc., a veterinary clinical research specialist founded in Oakland, Nebraska. The acquisition expands Argenta’s molecule-to-market capabilities in animal health and nutrition by adding clinical research and related services, while MVS will operate as a standalone business unit under Argenta with its existing leadership retained.

TSG Consumer Partners has acquired a majority stake in Pathway Vet Alliance from investment funds managed by Morgan Stanley Capital Partners (MSCP); Pathway management will continue to lead the company and retain a significant minority interest. Pathway is a multi-site operator of more than 270 general practice, specialty and emergency veterinary hospitals and 86 THRIVE clinics in the United States, and also operates Veterinary Growth Partners, an MSO serving ~5,500 member hospitals.

Trivest Partners and Queens Court Capital Management launched Pet Resort Hospitality Group (PRHG), a platform focused on multi-unit pet services. PRHG has acquired Play All Day, a five-location pet resort in New Hampshire and Massachusetts, as its first add-on to the new platform; Amanda Field, Play All Day's founder, will remain involved post-transaction.

Synergy Pet Group, a Lakewood, New Jersey–based provider of pet-related employee benefits, tech-enabled services, and veterinary software, received a minority growth investment from LoneTree Capital. LoneTree will support Synergy’s product rollouts, new business lines and strategic add-on activity, and Matt Koven will join Synergy’s board; terms were not disclosed.

Altano Group (Altano Gruppe GmbH) has acquired Avanti Equine Veterinary Partners, adding the U.S.-based equine hospital group to its international network. Avanti—founded in 2017 with seven U.S. locations and more than 140 employees—will be integrated into Altano's expanding equine clinic platform to strengthen the group's U.S. presence and specialist capabilities.

Veterinary Practice Partners (VPP) has entered a partnership with Caring Hands Animal Hospital, bringing the eight-hospital Caring Hands network into VPP’s community and elevating 21 associate doctors to equity partners (17 of whom are women). The agreement preserves veterinarian ownership and clinical autonomy while VPP provides operational support to help the Caring Hands practices grow and focus on patient care.