IVC Evidensia plans to merge with Canadian VetStrategy to become one of the largest veterinary groups

For comparison: Its biggest competitor, Mars, owns around 2,500 clinics in 20 countries.

VetStrategy, including Groupe Vétérinaire Daubigny, operates more than 270 hospitals across nine Canadian provinces.

Stephen Clarke, CEO of IVC Evidensia, said:

'IVC Evidensia will support VetStrategy as it continues to invest in patient care, client service and staff growth and wellbeing. Our businesses are a great fit, not just in terms of expanding our geographic footprint, but also in terms of our shared vision and values. Both companies are totally committed to caring for animals, people and the environment. VetStrategy shares our view on sustainability and the need to make a more positive impact on the world. Together we will continue leading the way in bringing new standards of animal clinical excellence and staff wellbeing to the markets we serve, including by investing in digitalisation to benefit consumers, their pets, and veterinarians alike.'

Orin Litman, CEO of VetStrategy, said:

'VetStrategy is excited to partner with the IVC Evidensia team. Under the broader IVC Evidensia umbrella, we will be able to further invest in our network of clinics across Canada while enhancing the range of services we provide to our customers and our veterinarian partners. Having co-founded the business in 2006, I am immensely proud of our organisation's growth and commitment to our key stakeholders and I am thrilled to partner with one of the leading veterinary groups in the world to further benefit our veterinarian partners and hospital teams and continue to invest in our service and standards of care. I am particularly excited about our shared vision for the benefits that digitalisation can bring to the pet care ecosystem, and the expertise in that area that joining with IVC Evidensia can bring to VetStrategy/Groupe Vétérinaire Daubigny. I look forward to working closely with Steve and his team as we do great things together.'

EQT will remain the largest shareholder in the enlarged IVC Evidensia Group, while Silver Lake and Nestlé will retain their significant minority stakes. All existing VetStrategy shareholders, including Berkshire Partners and the VetStrategy management team, are rolling their investment into the enlarged IVC Evidensia Group, reflecting their long-term commitment and shared vision to veterinary care across multiple countries and cultures.

Source: Global Pets