Q4-2016 Veterinary Industry Update– Veterinary services merger and acquisition activity in the fourth quarter of 2016 was primarily driven by private equity-backed networks of veterinary hospitals and clinics, which continued to utilize the capital of their financial sponsors to consolidate this heavily fragmented sector.


Q3-2016 Veterinary Industry Update– Merger and acquisition activity in the veterinary markets continued to be driven in the third quarter by private equity-backed veterinary platforms, which have utilized the capital of private equity partners to consolidate this heavily fragmented market.


Q2-2016 Veterinary Industry Update Update-Even with VCA Inc.’s landmark acquisition of Companion Animal Practices, North America (CAPNA) closing in May, veterinary industry consolidation in the second quarter of 2016 was primarily driven by private equity-backed platforms, which have remained aggressive in their acquisition strategies in this highly fragmented sector.

Veterinary Q1

Q1-2016 Veterinary Industry Update– The veterinary industry has seen several large M&A transactions in recent years, and this continued in the first quarter of 2016 as VCA acquired a majority stake in Companion Animal Practices, North America for $344 million. Overall valuations for veterinary practices and animal hospitals are currently very aggressive, and this is likely to drive further consolidation within the sector.

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