Who is buying veterinary practices?
Why veterinary care is consolidating
- •Corporate consolidators now own roughly 22% of US veterinary businesses, up from about 16% three years earlier, per the AVMA’s 2026 economic data.
- •In specialty and emergency veterinary care, corporate ownership is far higher — an estimated 75-80% of those hospitals.
- •Sole proprietorships have fallen to about 9% of practices as the long tail of independent, owner-run clinics is acquired — the classic setup for private-equity roll-ups.
The platforms consolidating veterinary care
The named groups acquiring US veterinary businesses, with their current owner and a source for each. Most grow through individual partnerships that are not separately disclosed; where a platform publishes named deals, recent ones are listed.
Mars Veterinary Health (VCA, Banfield, BluePearl)
Strategic / family-owned- Owner
- Mars, Incorporated
- Headquarters
- McLean, VA
- Scale
- ~3,000 clinics globally across VCA, Banfield and BluePearl
The largest US veterinary operator — but a strategic, family-owned acquirer, not private equity.
National Veterinary Associates (NVA)
Private equity- Owner
- JAB Holding Company
- Headquarters
- Agoura Hills, CA
- Scale
- ~1,400-1,500 hospitals (including Ethos specialty/ER)
Mission Pet Health
Private equity- Owner
- Shore Capital Partners + Silver Lake
- Headquarters
- Birmingham, AL
- Scale
- ~840+ locations across 41 states
Formed in late 2024 by merging Southern Veterinary Partners and Mission Veterinary Partners; rebranded as Mission Pet Health in July 2025.
VetCor
Private equity- Owner
- Harvest Partners + Cressey & Company
- Headquarters
- Norwell, MA
- Scale
- ~899 hospitals
Thrive Pet Healthcare
Private equity- Owner
- TSG Consumer Partners
- Headquarters
- Austin, TX
- Scale
- ~360+ hospitals
Formerly Pathway Vet Alliance.
PetVet Care Centers
Private equity- Owner
- KKR
- Headquarters
- Westport, CT
- Scale
- ~450+ centers
KKR is the equity owner; Ares Management is a lender to PetVet, not an owner — a distinction many lists get wrong.
Heartland Veterinary Partners
Private equity- Owner
- Gryphon Investors
- Headquarters
- Chicago, IL
- Scale
- ~300+ practices
AmeriVet Veterinary Partners
Private equity- Owner
- AEA Investors (with the Abu Dhabi Investment Authority)
- Headquarters
- San Antonio, TX
- Scale
- 213 clinics across 37 states
Innovetive Petcare
Private equity- Owner
- Metalmark Capital
- Headquarters
- Austin, TX
- Scale
- ~83 hospitals across 16 states
Acquired by Metalmark from Prospect Partners; some directories still list the former owner.
Rarebreed Veterinary Partners
Private equity- Owner
- Revelstoke Capital Partners
- Headquarters
- Portland, ME
- Scale
- ~118 hospitals
United Veterinary Care
Private equity- Owner
- Nordic Capital
- Headquarters
- Palm Beach Gardens, FL
- Scale
- 108 locations across 23 states
Destination Pet
Private equity- Owner
- LetterOne (L1 Health)
- Headquarters
- Irving, TX
- Scale
- Hundreds of locations across 31 states
A hybrid "connected care" operator — owns both pet-care resorts and veterinary hospitals, often co-located.
Veterinary Practice Partners
Private equity- Owner
- Audax Private Equity
- Headquarters
- King of Prussia, PA
- Scale
- 190+ practices across 35 states
Veritas Veterinary Partners
Private equity- Owner
- Percheron Capital
- Headquarters
- Tinton Falls, NJ
- Scale
- 14+ specialty & emergency hospitals
Encore Vet Group
Private equity- Owner
- North Castle Partners
- Headquarters
- Gansevoort, NY
- Scale
- ~55 hospitals
Owner per industry reporting; confirm the current sponsor before relying on it.
Blue River PetCare
Private equity- Owner
- Partners Group
- Headquarters
- Chicago, IL
- Scale
- ~190 hospitals across 39 states
Partners Group launched a sale process in late 2024 — ownership may change; verify before relying on it.
Frequently asked
Who are the largest veterinary consolidators in the US?
The largest is Mars Veterinary Health (VCA, Banfield, BluePearl), a strategic family-owned operator with ~3,000 clinics. The largest private-equity-backed platforms include NVA (JAB Holding), Mission Pet Health (Shore Capital + Silver Lake), VetCor (Harvest Partners + Cressey), Thrive Pet Healthcare (TSG Consumer Partners) and PetVet Care Centers (KKR).
Is private equity buying veterinary practices?
Yes, aggressively. Corporate-backed groups — most of them private-equity-owned — now hold roughly 22% of US veterinary businesses and an estimated 75-80% of specialty and emergency hospitals, up sharply over the past several years.
What multiple do veterinary practices sell for?
Established, well-run veterinary practices typically sell for about 5x-9x EBITDA, with larger multi-doctor and specialty/ER practices commanding the higher end. Smaller owner-operated clinics are often valued on an SDE basis around 3x-6x.
How do I sell my veterinary practice to a consolidator?
DealSeam works confidentially with veterinary owners to understand their options and, where there is a fit, introduces them to qualified buyers — with the buyer paying the success fee, so sellers pay nothing. DealSeam is not a traditional business broker.
Methodology & sources
Platforms were identified from veterinary trade-press consolidator directories, then each one’s current owner, headquarters and scale were verified against a primary public source (the platform’s own site, the private-equity sponsor’s portfolio page, or a dated press release). Anything that could not be confirmed against a primary source was excluded rather than estimated. Revenue and EBITDA are private for these companies and are intentionally not published; the multiple band shown is industry-typical, not any single platform’s deal multiple. Ownership in this sector changes frequently — entries note where a sponsor change may be pending. Practice counts come from DealSeam’s companies database (CMS NPPES) and are labeled as registered providers, not businesses. Last updated June 2026.
Market sources
- AVMA 2026 economic data (corporate ownership share) ↗
- Pharmaceutical Accountability / PE Stakeholder Project — veterinary consolidation ↗
- PrivateEquityVet — veterinary platform & PE-backer directory ↗
Last updated June 2026. Ownership in this sector changes frequently; figures reflect the most recent public sources available and are not investment, legal, or tax advice.
Thinking about selling your veterinary practice?
DealSeam works confidentially with owners to understand their options and, where there's a fit, introduces them to qualified buyers — at no cost to sellers.