The Company
Caring Hands Animal Hospital (“Caring Hands”) is an eight-location general practice veterinary services group in northern Virginia and Maryland.
The Deal
Veterinary Practice Partners (“VPP”), a portfolio company of Audax Private Equity (“Audax”), has partnered with Caring Hands to support the continued growth and expansion of the Caring Hands footprint. Through VPP’s differentiated co-ownership model, 21 Caring Hands Doctors of Veterinary Medicine (DVMs) were given the opportunity to become equity owners in their hospitals as part of the transaction.
The Thesis
In December 2021, Audax partnered with VPP, a leading general veterinary services group with over 125 animal hospitals across the U.S. VPP’s goal is to partner with animal hospitals through a unique co-ownership model where veterinarians can focus on providing high quality care to patients while VPP provides operational support through a robust corporate infrastructure.
Audax entered the partnership with the goal of supporting VPP in its mission to transform the pet health industry by providing the best service and highest quality care to companion animals and their families, while expanding its strategic partnerships with veterinarians and creating differentiated DVM equity ownership opportunities. Audax will continue to work alongside the VPP team to drive organic growth and seek out partnership opportunities to scale the geographic footprint of the business.
In 2023, the M&A market for healthcare companies continues to build on STRATEGIC opportunities in the current market. The strategic corporate buyers and private equity investors remain committed to acquiring strong businesses that are well prepared for a transaction. Across the continuum of care, these buyers and investors are looking for well established, profitable businesses and offering prime valuations and options for management.
Do you know the current market value of your business? We do! We are here to help you plan, prepare, explore and succeed in executing your strategic options.
Contact Paragon Ventures for more information.
800-719-1555
