Independence Pet Holdings Completes Acquisition of Pets Best

Independence Pet Holdings, Inc. (IPH), a corporate holding company that manages a portfolio of 15 pet health brands across North America, and Synchrony (NYSE: SYF), a consumer financial services company, recently ANNOUNCED that IPH has completed the acquisition of Pets Best Insurance Services, LLC (Pets Best) from Synchrony — Synchrony received a portion of the consideration as an equity investment in IPH.

Pets Best (founded in 2005) was acquired by Synchrony in 2019. Pets Best will continue to operate under the same brand and leadership.

Independence Pet Holdings insurance brands include the following:

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JAB Holding Company Acquires Pet Insurance Provider Pumpkin (6.16.23)
https://www.pets.care/news/2023/06/jab-holding-company-acquires-pumpkin/

JAB Holding Company (JAB) acquired majority interest in Pumpkin which is owned by Zoetis (manufacturer of animal drugs and vaccines).

JAB to Acquire Figo, Expands Pet Insurance Platform (11.1.21)
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JAB’s access to large amounts of consumer spending data at its veterinary clinics will help the firm price premiums accurately, he said, as opposed to insurance “legacy players who by their own admittance don’t understand the pet care market well” — according to a senior partner at JAB.

Synchony’s CareCredit Acquires Pet Health Insurance Company Pets Best (3.24.19)
https://www.pets.care/news/2019/03/synchrony-carecredit-acquires-pet-health-insurance-company-pets-best/

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Pet Insurance Companies Seek Double-Digit Rate Increases in NJ, up to 56 Percent (10.1.23)
https://www.pets.care/news/2023/10/pet-insurance-companies-seek-double-digit-rate-increases-in-new-jersey-up-to-56-percent/

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