The latest updates relating to animal care establishments and platforms.
Photo: Kanstantsinzzz/Adobe Stock
A real estate group specializing in veterinary spaces transformed a former brewery in Washington into a veterinary hospital for a chain of veterinary care providers. Meanwhile, a membership-based veterinary care company announced it received more than $50 million in funding to continue growing their operations while in California, an independently and veterinarian-owned urgent care recently opened its doors.
The membership-based veterinary care company Small Door Veterinary recently announced it has raised $55 million in new funding for its next stage of growth. The move comes as the organization achieved several milestones for its development, including the appointment of Kristen Lombardi as its first chief operating officer and the opening of 2 new Small Door clinics in McLean, Virginia, and Brooklyn, New York.
The funding round includes $35 million in equity financing by Valspring Capital. Existing investors, including Primary Venture Partners, C&S Family Capital, Lerer Hippeau, and Toba Capital, will continue to support. The round also includes a new loan of $20 million from Bridge Bank. According to Small Door, the funds will be used to support new practice openings, technology infrastructure, medical operations, and more.
“Small Door’s model is one of the most compelling we’ve seen in veterinary care,” said Yumin Choi, managing partner at Valspring Capital, in a news release.1 “The team has built a category-defining brand with clinical rigor, hospitality-grade service, and a scalable platform. We’re excited to support them as they bring this experience to more pet families nationwide.”
A former brewery in Tukwila, Washington, was turned into a veterinary space for a BluePearl Pet Hospital that was originally located in the city of Renton. The space was acquired by TerraVet Real Estate Solutions—a real estate group that focuses on veterinary properties— in partnership with BluePearl. The acquisition totaled $4.825 million, with a $1 million contribution in tenant improvements.
BluePearl has since relocated to the renovated space in Tukwila, which spans 14,825 sq ft, which is more than double the size of BluePearl’s prior location in Renton. The 24/7 emergency veterinary hospital features advanced treatment capabilities and offers more than 20 specialties and services, including dermatology, oncology, ophthalmology, rehabilitation, surgery, hemodialysis, and more.
"Turning an idle site into a high-functioning veterinary hospital is exactly the kind of outcome we aim for," Daniel Eisenstadt, CEO of Terravet, said in a company release.2 "This project shows how adaptive reuse can meet the needs of veterinary operators and the communities they serve. We've reinforced BluePearl's long-term presence by delivering a property that works for them and increasing access to high-quality pet care in South King County."
A new independently owned veterinary urgent care center called Paw Priority has opened in Los Angeles, California. In addition to offering urgent care, the 3200 sq ft facility also takes house calls and provides acupuncture, wellness exams, vaccinations, and surgery. Moreover, the practice treats a variety of emergencies, including digestive issues, urinary pathology, limping and other injuries, neurologic emergencies and seizures, coughing and sneezing, and more.
According to an email from Paw Priority’s publicist to dvm360, the veterinary urgent care center aims to offer a calm, upscale alternative to clinics that are corporate-run. “We created a practice that is a lifeline for pets with urgent illness needs, bridging the gap when regular vets are stretched thin and ER waits are too long. It's about providing the right care at the right time," said Ezra Ameis, DVM, owner of Paw Priority.3
References
From exam room tips to practice management insights, get trusted veterinary news delivered straight to your inbox—subscribe to dvm360.