Q4-2018 Veterinary Services Update

The veterinary services market continues to see increased interest from private equity investors looking to deploy a “buy-and-build” strategy. Heavy market fragmentation coupled with private pay revenue streams and a low-risk business model has attracted many investors looking to scale quickly by acquiring independent, regional practices. Despite historically high valuations, the sector continues to see an inflow of private capital from new investors. New market entrants have begun creating new investment opportunities by opening their own practice and expanding de novo. Provident expects to see increased consolidation activity throughout 2019 as many independent practices begin to explore the opportunities available to them through a partnership with a private equity investor or private equity backed consolidator.

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Sources: SSEC Filings; Company Press Releases, and Reports; IBISWorld; Capital IQ; PitchBook; PHP Estimates and Research. This document has been compiled with publicly available information.  Provident Healthcare Partners, LLC makes no guarantee of its accuracy or completeness. No data or statement should be construed to be a recommendation for the purchase, sale, or retention of any security.