Medivet is a pet-care business comprised of a community of vets, nurses and other related professionals operating a hub-and-spoke model of 18 main centres and over 300 first opinion practices. Medivet was founded in 1986 and is today recognised as a provider of very high levels of client service and patient care. The business is led by a team of veterinary surgeons with over 300 years’ collective experience.
The business has capitalised on industry deregulation that stimulated market consolidation, successfully expanding by acquiring practices across the UK. Medivet continues to grow as the £2bn UK vet industry is buoyed by rising propensity to source the best possible pet care, and supported by increasing insurance penetration.
The Inflexion investment
During the partnership, the business saw strong organic growth, and significantly increased its number of sites and employees through an ambitious programme of organic and M&A growth. Sites doubled to over 350 in both the UK and Europe, and headcount doubled to over 3,000. Most recently the company expanded into Europe with the acquisition of over 40 practices in Germany and Spain.
The Inflexion difference
Already expanding strongly, Medivet management were looking for a minority investor to help accelerate their plans expansion. Inflexion’s understanding of the pet-care market gleaned through its investments in Kynetec combined with its extensive buy-and-build experience and willingness to provide minority funding made it a good fit for Medivet’s management.
The partnership saw significant investment into new systems and infrastructure with the help of Inflexion’s Digital Team, whose marketing and digital expertise drove enhancements to Medivet’s customer experience. A number of senior level appointments were supported by Inflexion’s Talent Team and enabled a planned succession away from the founders.
Inflexion has been the perfect partner for Medivet as the business has accelerated its UK expansion both organically and via acquisition and expanded overseas. Their capital and support has helped Medivet to strengthen its leadership team and grow the businesses materially in the UK as well as enter Germany and Spain. Their support has been invaluable on our growth journey.
Deirdre Burns, Executive Chair, Medivet