Covetrus has agreed to acquire VCP
Covetrus, a global leader in animal health, has entered into a definitive agreement to acquire Veterinary Care Plans (VCP), a market-leading platform in veterinary wellness plan administration serving approximately 1,000 veterinary practices with more than 350,000 active pets on plan. The acquisition is expected to close in July, subject to customary closing conditions. The VCP technology platform and infrastructure will afford Covetrus new ways to provide today’s veterinarians with additional tools to deliver better care and grow their practices, while serving the growing number of pet parents seeking highly tailored wellness plans centered around their trusted veterinarian.
As a leading wellness solutions provider, VCP’s proprietary technology equips veterinarians with a platform to deliver comprehensive wellness, treatment and lifestyle plans for their clients, featuring everything from preventative services, dental care and diagnostics to boarding and grooming. Integrating the VCP platform with Covetrus’ robust practice management software will enable more customized plans of wellness products and services designed to meet the unique needs of every family and support an enhanced veterinary practice and pet parent experience.
“Covetrus is a natural fit as VCP prepares for the next stage of our journey,” said Bob Richardson, President of VCP. “From a mission, technology and cultural standpoint we share similar goals, values and motivation. Covetrus offers the opportunity to bring our comprehensive wellness solution to the forefront by integrating with their powerful practice management solutions. This integration will deliver new levels of ease and convenience for clinics and facilitate more care. In addition, it will drive pet care education and enable convenient home delivery for pet parents looking for easier accessibility, value and a better overall experience. We are beyond excited to better deliver the business of wellness and the resulting benefits to countless pets, pet parents and veterinary practitioners in the years ahead.”
Lincoln acted as the exclusive financial advisor for Covetrus. Terms of the transaction were not disclosed.
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