PetIQ to Acquire Veterinarian Services Provider
PetIQ, Inc., a pet medication and wellness company, has entered into a definitive agreement to acquire Community Veterinary Clinics, LLC dba VIP Petcare, an operator and provider of nationwide veterinary clinics and veterinarian services within major U.S. retailers. The transaction has been unanimously approved by PetIQ’s board of directors and is expected to close by the end of January 2018, subject to customary closing conditions.
Headquartered in Windsor, Calif., VIP is a provider of veterinary wellness and pet preventive services, as well as a distributor of pet wellness products and medications. VIP provides a comprehensive suite of services at its 2,900 community clinics and wellness centers hosted at local pet retailers across 31 states, which includes diagnostic tests, vaccinations, prescription medications, microchipping and wellness checks. VIP’s veterinary services and products align with PetIQ’s corporate strategy and mission to improve pet health by providing consumers convenient access and affordable choices to a broad portfolio of pet health and wellness solutions, according to company officials. In 2017, VIP treated more than one million pets through its installed clinics as well as its 76,000 mobile clinics.
“We look forward to working closely with Will Santana, CEO of VIP, who will be joining the PetIQ board of directors as well as our senior management team in connection with the closing of the transaction, and to welcoming the entire VIP team to the PetIQ family,” said Cord Christensen, PetIQ’s Chairman and CEO. “We share a mission to make pets’ lives better by educating pet parents on the importance of regular veterinary care and veterinary-recommended pet products.
“The addition of VIP will give us a national footprint in the veterinarian services segment, and the opportunity to participate in an approximately $21 billion market in the United States. PetIQ has focused on providing pet owners convenient access and affordable choices to a broad portfolio of pet health and wellness products across its network of retailers, and with this acquisition, we will now be able to provide the same convenience and affordability with veterinarian care,” Christensen added. “We look forward to building upon the strengths of each of our respective customer relationships, broadening our reach and enhancing customer loyalty with existing and new retail partners.”