Mission Veterinary Partners (MVP) and Southern Veterinary Partners (SVP) are planning a MERGER that would create one of the largest owners of veterinary practices in the United States — a definitive deal has yet to be struck, according to VIN News Service. The combined company with more than 730 practices (MVP: 330+, SVP: 400+) would rank as one of the biggest in size among the largest corporate consolidators including Mars Inc (3,000 worldwide), National Veterinary Associates (1,400+), Vetcor (889), PetVet Care Centers (450+) and Thrive Pet Healthcare (380+).

Private equity firm Shore Capital Partners is a major investor in both MVP (investment since 2017) and SVP (2014).

John Volk, a senior consultant at Chicago-based Brakke Consulting stated, according to VIN News Service:

• “Shore Capital combining its investments in Southern and Mission wouldn’t come as a surprise. That’s because higher interest rates have made it harder for private equity firms to cash out their investments by finding another buyer. By scaling up, they can position themselves to join a public stock exchange” — Volk also stated it’s unlikely that the FTC would block a merger.

Individual general practice locations that are owned, operated and or controlled by both MVP and SVP are not displayed on their corporate websites.

RELATED:

• Stop the Merger of Mission Veterinary Partners and Southern Veterinary Partners (6.27.24)
  https://www.change.org/p/stop-the-merger-of-mission-veterinary-partners-and-southern-veterinary-partners
  • We must appeal to the Federal Trade Commission (FTC) to scrutinize this merger and consider its significant implications on our industry’s future. We need to raise our concerns and voice them out. Sign this petition to urge the FTC to deny the merger of Mission Veterinary Partners and Southern Veterinary Partners and to keep our veterinary sector competitive and diverse.

• Health Care’s Default Risk Rises (12.15.22)
  https://www.axios.com/pro/health-tech-deals/2022/12/15/health-care-default-risk-rises-moodys-report
  • Moody’s list of health care companies with a probability of default rating of B3-PD or lower includes: Shore Capital-backed Midwest Veterinary Partners (dba Mission Veterinary Partners), which was weighing a sale last year.

• VetPartners and Vets’ Dog Days (12.5.22)
  https://www.axios.com/pro/health-tech-deals/2022/12/05/possible-vetpartners-sale-could-spur-other-auctions
  • State of play: At least five sponsor-backed platforms were reported to be in market or exploring options this year: Western Vet, Blue River Petcare, Encore Vet, CareVet and Southern Veterinary Partners.

• Shore Capital’s Mission Veterinary Partners Explores Sale (10.26.21)
  https://www.pehub.com/shore-capitals-mission-veterinary-partners-explores-sale/
  • MVP (formerly known as Midwest Veterinary Partners) was formed in 2017 through the merger of two groups – Advanced Animal Hospital Group and Progressive Pet Animal Hospitals.

• Do You Know Who Owns Your Veterinary Practice?
  https://www.pets.care/verified/
  • CARE for Pets™ has recently launched VERIFIED,™ the first and only veterinary practice ownership verification tool for the pet care industry — our research shows the vast majority of consolidators may purposely hide ownership.

RECENT VETERINARY CONSOLIDATION NEWS:

Sen. Elizabeth Warren Targets Private Equity Company for Consolidating Veterinary Sector, Raising Costs (8.16.24)
https://www.pets.care/news/2024/08/senator-elizabeth-warren-targets-private-equity-company-for-consolidating-vet-care-raising-costs-for-pet-owners/

• Corporate consolidation of veterinary care and an accompanying rise in prices represents a major issue for American consumers and a life and death issue for their pets — senators urged the FTC and Congress to take stronger action against consolidation in the veterinary care industry.