Medivet is a pet-care business comprised of a community of vets, nurses and other related professionals operating a hub-and-spoke model of 15 main centres and over 250 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 difference
Already expanding strongly, Medivet management were looking for a minority investor to help accelerate their UK 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 business has materially increased its pace of acquisitive growth post Inflexion’s investment, and we have supported an enhanced lending facility to cater to management’s appetite for this ambitious yet measured growth. As the business expands we have worked closely with management to expand the capabilities of the leadership team, this has included hiring for the new roles of HR Director, Chief Marketing Officer and Chief Information Officer. We have also assisted with sourcing a successor to the incumbent Chief Financial Officer.
We are proud of our business today, having overseen substantial growth throughout the UK. As vets, we understand our market and are passionate about providing very high levels of client service and patient care. Inflexion shares our vision of sustainable expansion; their tailored minority investment solution made them a natural fit. We will continue to lead Medivet and look forward to working with Inflexion to develop this business further.