Bond Vet receives a $170 million investment from Warburg Pincus

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dvm360dvm360 December 2021
Volume 52

The investment supports the company’s dedication to providing the best experience for pets, clients, and its veterinarians in New York and beyond.

The Warburg Pincus investment contributes to Bond Vet's continuous advancements in its clinics and technology (Photo courtesy of Bond Vet).

The Warburg Pincus investment contributes to Bond Vet's continuous advancements in its clinics and technology (Photo courtesy of Bond Vet).

Bond Vet has recently announced a $170 million investment from Warburg Pincus, a leading global growth investor. This funding will go towards expanding Bond Vet’s footprint and investing in equipment, training, culture, and technology to further enhance the clinical experience for veterinarians, pets, and pet owners.

According to a company release, Bond Vet provides highly flexible, convenient veterinary care experiences with practices offering an array of appointment options (ie, pre-scheduled appointments, walk-in visits, and telehealth). From wellness exams to traditional general practice offerings to urgent care, it also provides a variety of services. Bond Vet has cared for over 40,000 pets in the New York City area since its launch in June of 2019.

“The increase in pet ownership, accelerated by the rise of adoptions and need for care during the pandemic has demonstrated an enormous opportunity to improve veterinary services, especially in urgent and emergent cases for pets,” said Mo Punjani, MBA, cofounder and CEO of Bond Vet, in the release.

“Bond Vet meets the demand for a high-quality, convenient experience for pet care, supported by our best-in-class technology and standards for medical excellence. The new partnership with Warburg Pincus and the continuing support of our initial capital provider Talisman Capital will help accelerate our growth and enable us to provide the best experience for our pets, pet parents, and our veterinarians in New York and beyond,” he continued.

Warburg Pincus has respectively invested over $12 billion and $24 billion into healthcare and technology companies. The firm is an experienced investor in urgent care platforms such as being a majority investor in Summit Health/CityMD.

Additional noteworthy investments include Alignment Healthcare, Experity, Intelligent Medical Objects, Modernizing Medicine, PetPlan, Qualifacts, Quantum Health, and WebPT. Bond Vet’s mission and differentiators align well with the Warburg Pincus portfolio.

“Bond Vet offers a highly differentiated value proposition, focusing equally on the experience of the pet parent, the veterinary clinician, and pets through its convenient locations, smart design, and tech-enabled platform," said TJ Carella, MBA, managing director and head of healthcare at Warburg Pincus, in the release.

"We look forward to leveraging our experience in multi-site healthcare to expand Bond Vet’s footprint and take advantage of the growing market and increased demand for veterinary services,” he continued.

Reference

Bond Vet announces growth investment from Warburg Pincus. News release. Bond Vet. October 11, 2021. Accessed October 14, 2021. https://www.prnewswire.com/news-releases/bond-vet-announces-growth-investment-from-warburg-pincus-301397215.html

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