Mars Petcare expands stake while Vetsource maintains cross-industry ownership. Investment will accelerate development of a suite of services and software tools to help the industry successfully adapt to an evolving market, reinforcing connections between pet owners and veterinarians.
PORTLAND, Ore. May 14, 2021 — Vetsource®, provider of the industry’s leading open platform for the pet health industry, today announced Mars Petcare will become the company’s lead investor as it adds resources and staff to better serve the pet health ecosystem.
Vetsource will join Mars Petcare — one of the world’s largest pet care providers — and continue to operate with the current management team and investors representing a cross section of the pet care industry (including MWI Animal Health and Patterson Veterinary Supply).
“Mars Petcare’s investment is an important milestone in our company’s history and a testament to our team that has built a world-class scalable platform to serve the rapidly evolving needs of veterinarians and the industry as a whole today and in the future,” said Kurt Green, president and CEO. “Mars Petcare has been an enthusiastic partner and investor for years. Our focus on helping veterinary clinics build engagement with their clients is a natural extension of the Mars vision of a better world for pets. We are humbled by the partnerships we have formed with our customers and the trust they have placed in us. We are excited about the journey ahead and the opportunity to continue to help them succeed.”
The investment demonstrates the value of cross-industry solutions and an open platform approach in a market that continues to rapidly evolve. With access to additional capital, Vetsource will drive the industry forward by developing new services, acquiring new technology platforms, and continuing to invest in its current offerings of vet-sponsored home delivery, prescription routing and management, practice and industry analytics, and pet parent engagement and communications services.
“As a customer, investor and partner over the last decade, we know first-hand the value Vetsource brings in leading the industry — and are eager to help accelerate its business and leading open platform to benefit the entire veterinary and pet ecosystem,” said Doug Drew, president, Mars Veterinary Health North America. “Like Vetsource, Mars Petcare believes in a robust pet care marketplace in which practices of all types have access to the tools and platforms that Vetsource offers to help them compete and thrive.”
About Mars Petcare
Mars Petcare is part of Mars, Incorporated, a global, family-owned business. At Mars Petcare, our nearly 95,000 Associates are dedicated to creating A BETTER WORLD FOR PETS™. We believe that’s a world where all pets are healthy, happy and welcome in more places. Today, our diverse portfolio of almost 50 products and services serves the needs of pets in around 130 countries. Our science-backed pet food, care and treats are designed to meet the individual needs of pets through brands like PEDIGREE®, WHISKAS®, ROYAL CANIN®, NUTRO™, GREENIES™, SHEBA®, CESAR®, IAMS™ and EUKANUBA™. Mars Petcare is also a leading veterinary health provider with an international network of over 2,500 pet hospitals including BANFIELD™, BLUEPEARL™, VCA™, Linnaeus, AniCura and VSH Hong Kong, and diagnostic services via Antech. And at Kinship, we are pioneering new ways of bringing pets and pet owners closer together than ever before through brands like WISDOM PANEL™, WHISTLE™, and the LEAP VENTURE STUDIO accelerator and COMPANION FUND™ programs that drive innovation and disruption in the pet care industry. Aided by WALTHAM Petcare Science Institute, we are advancing research that improves the lives of pets and deepens our understanding of the human animal bond. To learn more, visit our website or follow us on Instagram and LinkedIn.
Vetsource is a pet health company that provides innovative pharmacy, technology and business services to more than 9,000 veterinary practices in the United States. Its solutions equip practices with the tools they need to thrive in a constantly evolving industry and foster a deeper connection between veterinarian and pet parent. Vetsource’s comprehensive platform includes a home delivery program with practice-branded online shopping sites; data and analytics that provide business insights; pet parent engagement and marketing services; and streamlined prescription management of orders placed through other online retailers. Both veterinary practices and pet parents alike benefit from these integrated services that create a seamless transition from in-clinic to at-home and improve the quality of pet care. Founded in 2008 to help veterinary practices compete in the online marketplace, Vetsource expanded in 2018 with the acquisition of VetSuccess and again in 2020 by acquiring Vet2Pet. Comprising nearly 500 employees, Vetsource is headquartered in Portland, Ore., with additional offices in Colorado, Oklahoma, Pennsylvania and Toronto.