How Private Equity Is Buying Up Veterinary General Practices

from Private Equity Conversations with Fexingo: PE Funds, Buyouts, and Long-Hold Investing · host Fexingo

Episode 45 of Private Equity Conversations with Fexingo dives into the quiet roll-up of general veterinary practices. Lucas and Luna break down why PE firms are targeting the $30 billion companion animal market, how a single consolidator — National Veterinary Associates — now owns over 1,500 clinics, and what that means for pet owners facing higher bills and less independent care. They also explore the tension between operational efficiency and clinical autonomy, and whether the model works long-term when competition for acquisition targets pushes multiples above 12x EBITDA. If you've noticed your vet bill creeping up, this episode explains why. #PrivateEquity #Veterinary #PetCare #RollUp #NationalVeterinaryAssociates #MarsPetcare #Consolidation #EBITDA #Business #Finance #Investing #MergersAndAcquisitions #Healthcare #PetIndustry #FexingoBusiness #BusinessPodcast #Economics #VetClinics Keep every episode free: buymeacoffee.com/fexingo

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This episode is 9 minutes long.

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This episode was published on June 11, 2026.

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