Pets at Home barks up the right tree with £15m "win-win" vet group acquisition
A national pet care retailer has today announced that it has acquired a veterinary telehealth business in a £15m deal.
Pets at Home, which has 453 stores across the UK, has invested £15m in its acquisition of The Vet Connection (TVC), which is the country’s largest independent veterinary telehealth provider.
TVC conducts approximately 90,000 remote consultations per year, achieving adjusted EBITDA of £0.7m in its latest financial year.
Peter Pritchard, group CEO of Pets at Home, commented: “The acquisition of TVC marks an important next step in the development of our digital capabilities providing trusted advice and even more convenient pet care services.
“We have followed their business for a number of years and know Jamie Moodie, Nick Irvine, Rob Mitchell and the TVC team well, and look forward to working with their current partners and supporting the continued development of their service.
“We recognise TVC’s exceptional telehealth capabilities and excellent service levels, as well as the opportunities arising from the scalability of their clinical protocols and proprietary telehealth platform, and look forward to incorporating their capabilities into our existing customer offer - across product, services and subscriptions - to enhance the overall customer experience, and help drive customer acquisition, retention and lifetime value.
“TVC is a “win-win” solution for our customers, colleagues and JVPs, providing 24/7 access to trusted advice from the comfort of home with increased flexibility around veterinary work-life balance.”
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