VetCare Canada Holdings closes $100M private placement

CPE News (1.24.2023) – VetCare Canada Holdings Inc. has raised $100 million in minority equity funding by way of private placement.

Deloitte Corporate Finance Inc. acted as exclusive financial advisor to VetCare in the transaction.

Founded by Andrew Black, VetCare is an independent, Vancouver-based company focused exclusively on acquiring and operating veterinary practices in Canada.

The new capital combined with the previously announced debt facility provides a total of $275 million to support VetCare’s active acquisition program across Canada—complementing its successful existing network of practices in British Columbia, Ontario, Alberta, Manitoba and Quebec.

photo credit: VetCare

News Release

VetCare raises $100 million through private placement

VANCOUVER – VetCare Canada Holdings Inc. (VetCare) announced today that it has raised $100 million of minority equity financing through a private placement, maintaining the company’s steady growth.

The new capital combined with the previously announced debt facility provides a total of $275 million to support VetCare’s active acquisition program across Canada—complementing its successful existing network of practices in British Columbia, Ontario, Alberta, Manitoba and Quebec.

“We are pleased to have completed the new growth financing in this evolving economic climate; we believe it speaks to the resiliency and strength of Canada’s veterinary industry and of VetCare’s business model,” said Andrew Black, Founder, CEO and majority shareholder of VetCare.

Excited by the future of the Canadian veterinary industry, he continued, “We look forward to expanding our acquisition program in pursuit of our goal to be the leading provider of high-quality veterinary medicine in Canada. “Since our founding in 2016, we have provided Canadian veterinarians with our unique succession offering. We remain deeply committed to doing so for years to come.”

Deloitte Corporate Finance Inc. served as the exclusive financial advisor to VetCare in the transaction.

About VetCare

VetCare is an independent, Vancouver-based company focused exclusively on acquiring and operating veterinary practices in Canada. The Company was founded by Andrew Black with the idea of delivering excellent patient care by combining professional management with a talented medical team. VetCare strives to make veterinarian transition goals come to life by customizing a sale arrangement to achieve each veterinarian’s unique objectives. VetCare is Canadian controlled and operated. For more information, please visit vet-care.ca.

For more information, contact:
Andrew Black
Founder and CEO
andrew@vet-care.ca

Adam Foley
Chief Financial Officer
adam.foley@vet-care.ca