How Corporate Takeovers and Private Equity Are Undermining the Veterinary Industry
- thecathospitallv
- Sep 26
- 4 min read
Once a field grounded in community trust and care, veterinary medicine is undergoing a sweeping transformation—and not necessarily for the better. Increasingly, independent clinics are being swallowed up by private equity-backed chains and large corporations. While these entities promise modernization and efficiency, many argue they’re driving up costs, squeezing veterinarians, and diminishing the quality of care. Let’s dive into how this shift threatens the soul of the industry and what it means for pet owners, vets, and pets alike.
1. The Scale of the Takeover
Massive consolidation: Today, nearly half of U.S. veterinary practices are corporately owned—about 25% of general practices and roughly 75% of specialty clinics fall under PE or corporate umbrellas. (Financial Times) (Private Equity Stakeholder Project PESP) (plazajournal.com)
Roll‑up strategies: Firms like Mars’ Veterinary Health (owning Banfield, VCA, BluePearl) and private equity players like JAB (NVA), Silver Lake (IVC Evidensia), and KKR (PetVet) are fueling rapid consolidation. (Financial Times) (The AtlanticRick LeCouteurplazajournal.com)
Financial motivation: Veterinary clinics offer stable, cash-based income with growth potential—ideal for profit-driven investors. Private equity typically aims for fast returns through acquisitions and eventual resale.(Private Equity Stakeholder Project PESP) (LA County Animal Care & Control -privateequityvet.org)
2. Soaring Prices—and Why Pet Owners Struggle
Staggering cost hikes: Veterinary costs have surged—around 60% over the past decade in the U.S.; in the U.K., costs have risen ~50% since 2015. (Financial Times) (The Atlantic)
Declining visits: Higher prices are deterring pet owners. U.S. vet visits dropped 1.9% in Q1 2025—the steepest fall since 2021. (Financial Times)
Economic strain: One art editor from Milan shared, “My annual gynecological check-up is cheaper than Leo’s annual vaccines.” A sobering reality. (Financial Times)
Reduced competition: As consolidation grows, independent clinics vanish, and pet owners face fewer affordable options. (Financial Times) (K9 of Mineplazajournal.com)
3. Veterinarians Under Pressure
Revenue quotas: Vets in Private Equity-owned clinics often face intense pressure to hit financial targets—sometimes having to generate six times their salary in billings.(Financial Times) Rick LeCouteurservicedogacademy.com
Ethical conflicts: To meet targets, some vets feel compelled to recommend unnecessary diagnostics or upsell high-margin services—even if they aren’t medically warranted. Financial TimesBest Pet DailyK9 of Mine
Moral fatigue: Reddit veterinarians voice frustration:
“Quality of medicine and happiness... is much higher [in private practice]... poor staffing, overbearing and poorly managed private equity hospitals.”Reddit“It’s terrible. Constant pressure for profits... shorter appointments... pricing increases... staff get hours cut.”Reddit
Burnout & turnover: Many report overwork, job dissatisfaction, and rapid turnover, often tied to corporate-driven schedules and staffing cuts. The Animal Rescue Siteservicedogacademy.com
4. Loss of Trust and Transparency
Hidden ownership: Many Private Equity-owned clinics retain their original branding—pet owners often remain unaware of the corporate entity behind their vet. plazajournal.comblvd.vet
Breakdown of relationships: The impersonal nature of corporate care erodes the long-standing bonds clients have with their local vets. (The Animal Rescue Siteservicedogacademy.com)
When profit overrides pets: Clinics may slash essential, lower-margin preventive services (like vaccines), making them harder to access.K9 of Mine
5. Regulatory Crawling but Concerns Persist
Antitrust action: The FTC intervened in 2022, ordering divestments in JAB deals; the UK’s Competition and Markets Authority (CMA) is probing pet care consolidation.(Financial) Timesprivateequityvet.org)
Calls for oversight: Veterinary boards and consumer advocates argue for tighter regulation—such as fee caps and disclosure requirements—to protect pets and clients.(The Time) (Best Pet Daily)
Pressure for transparency: Users from Reddit suggest policy reforms—like requiring clinics to be vet-owned or mandating disclosure of ownership to consumers.Reddit
6. Are There Any Silver Linings?
Modernized facilities: Corporate backing can introduce advanced diagnostics, digital records, and expanded services like telemedicine.(Rick LeCouteurLA County Animal Care & Control )
Benefits for staff: Some chains offer structured career paths, maternity leave, and standardized training that smaller practices may lack.Financial TimesRick LeCouteur
But these gains are often coupled with the loss of clinical autonomy and increased pressure to generate revenue.Rick LeCouteurLA County Animal Care & Control -
Conclusion: What’s at Stake—and the Path Forward
The corporatization and financialization of veterinary care may deliver certain efficiencies, but they come at a steep price—rising costs for pet owners, ethical compromises for veterinarians, and the undermining of trust in a profession built on compassion.
Pet owners can act:
Ask about ownership of your clinic. Las Vegas Cat Hospital is now and always will be independently owned.
Request detailed estimates and don't hesitate to seek second opinions.
Support independent clinics that prioritize care over profit like Las Vegas Cat Hospital
Employees and industry stakeholders can advocate:
Push for stronger regulation—disclosure laws, ownership requirements, and pricing oversight.
Join professional networks to support ethical veterinary practice.
It’s only through collective awareness and action that we can preserve veterinary care as a calling—not a commodity.
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