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Companion animal hospital conglomerate receives multi-million dollar investment
Westlake Village and Palo Alto, Calif - 5/2/07 - National Veterinary Associates, the largest U.S. private owner of companion animal hospitals, received a $128-million investment from Summit Partners, a private equity and venture capital firm.
Westlake Village and Palo Alto, Calif - 5/2/07 - National Veterinary Associates, the largest U.S. private owner of companion animal hospitals, received a $128-million investment from Summit Partners, a private equity and venture capital firm.
The owner of 96 animal hospitals with a combined 1,800-member staff, NVA is committed to outstanding patient care and plans to use the funds for additional acquisitions and veterinary staff recruitment, says Stan Creighton, DVM and NVA founder, chairman and chief executive officer.
"We knew from our initial visit with the NVA team that the company's unique culture does not stifle the independence of these veterinary hospitals. NVA's culture is very difficult to creat and impossible to copy," says Dr. Craig Frances, general partner at Summit.
He, along with Summit Managing Partner Walter Kortschak and Vice President Michael Anderson, will join NVA's Board of Directors.
Summit is a private equity and venture capital firm that provides growth equity, recapitalization and management buyout financing to companies that have self-financed their businesses to profitability and market leadership.
