Q2 2023 Veterinary Services Update
Despite tightened lending markets, the veterinary space continues to demonstrate strong consolidation activity entering Q3 2023. Outside of the recent platform transaction involving Pieper Veterinary and Chicago Pacific Founders, Q2 M&A activity was highlighted by the acquisitions of single-site care centers. Smaller provider groups nationwide were the primary add-on targets of PE-backed consolidators, notably Veterinary Practice Partners and AmeriVet Veterinary Partners.
Looking ahead to the back-half of 2023, Provident anticipates an increase in transaction activity. The continued need for PE-backed platforms to expand provider headcount via acquisition, coupled with an expected easing of the lending environment, should create a more robust consolidation environment.
To print and download the full Veterinary Services Update report, please click below…
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