The acquisition includes veterinary clinics in metropolitan areas across multiple states
Heartland Veterinary Partners (Heartland) announced it acquired Family Vet Group (FVG). The acquisition gives Heartland FVG’s chain of state-of-the-art practices in metropolitan areas in Florida, North Carolina, Texas, Indiana, and Tennessee.
"FVG is an outstanding veterinary group that has cultivated an entrepreneurial and quality-driven culture that will add immediate value to Heartland," said Greg DeAtkine, CEO of Heartland, in an organizational release,1 "FVG is known for its innovative approach to opening new hospitals featuring the latest technology that expands the quality of care for patients, which will be a competitive advantage as we seek to serve our clients to the highest standard and attract top talent to our growing organization."
According to the release, FVG hospitals offer full-service general practice care such as dental, surgery, digital and dental radiology, and in-house and reference lab capabilities.1 FVG headquarters is currently located in Chicago, Illinois, and will continue to be led by president Chase Michalek, president and co-founder of FVG.
"FVG has built a vibrant culture that has attracted top caliber veterinarians and support team members, which has contributed to exceptional business results and company growth," said Connor Lawrie, chief operating officer of Heartland.1 "We look forward to working with Chase, [Kathryn Kraft, DVM], and the talented FVG team as we welcome them into the Heartland family and build on each other's strengths."
Although the cost of the transaction was not disclosed, the terms of the agreement are that the FVG’s family ownership group, Highland Ventures LTD, will keep the underlying real estate of the practices. Highland Ventures LTD will serve as a strategic real estate partner to support Heartland’s facility expansion.
Gryphon-Backed Heartland Veterinary Partners Acquires Family Vet Group. News release. Heartland Veterinary Partners; Gryphon Investors. July 25, 2022. Accessed July 25, 2022. https://www.prnewswire.com/news-releases/gryphon-backed-heartland-veterinary-partners-acquires-family-vet-group-301592173.html