Easyvet Secures $5 Million Series A-1 Funding; Unavets Animal Healthcare Portfolio, Funded by Oaktree, Invests in Continued Growth in the Veterinary Healthcare Industry
The Series A-1 investment round marks a crucial advancement in easyvet's ability to continue scaling growth and continue to provide convenient, affordable pet care.
KNOXVILLE, Tenn., May 25, 2022 (GLOBE NEWSWIRE) -- Easyvet ("easyvet"), a rapidly growing U.S.-based limited-service veterinary clinic franchise, announced the close of a $5 million Series A-1 funding round led exclusively by UNAVETS, an animal healthcare investment portfolio backed by funds managed by Oaktree Capital Management, L.P. ("Oaktree").
Easyvet clinics offer comprehensive first opinion care via wellness exams, core vaccines, parasite screening and prevention, microchipping, flea, tick, and heartworm prevention, behavioral and lifestyle counseling, and more to help pets live longer, happier lives. With 19 locations open in eight states, easyvet's rapid expansion is on track to double in size in 2022. Currently, 27 locations in 20 unique markets are in the various stages of construction development.
Easyvet, the nation's first walk-in veterinary franchise, has dedicated its business to making pet care more convenient and affordable for pet parents and simplifying practice ownership. Offering turnkey business solutions, easyvet is transforming veterinarian medicine and empowering veterinarians with the freedom to own and operate their own practice. By providing franchisees with ongoing support in inventory management, financial automation, digital marketing, human resources and recruitment, clinical training and learning management, facilities support, and IT/data reporting, clinics are able to focus on practicing veterinary medicine with easyvet as their trusted [commercial/business] partner.
"Our partnership with Oaktree's animal healthcare portfolio, UNAVETS (which includes the UNAVETS portfolio in Spain, the OneVet portfolio in Portugal, Rhapsody/Petabyte practice management software, and other investments across the veterinary healthcare spectrum), will continue to allow easyvet to provide world-class support and shared services for our franchisees. In addition, Oaktree's ecosystem will allow us access to resources, tools, and economies of scale through synergies with their existing portfolio companies," stated easyvet President, Rivers Morrell. "This partnership aligns with easyvet's ambition and vision for improving the veterinary profession with additional resources, increasing learning management tools, and improving technologies that contribute to the success of our franchisees."
Easyvet plans to use this capital to grow its clinical support resources, increase learning management tools, focus on ways to improve the veterinary experience and improve technologies that contribute to the success of its franchisees.
Junko Sheehan, CEO of the UNAVETS Group, comments, "We are thrilled with the prospect of collaborating with the easyvet team and continuing to expand their offering in the U.S. easyvet offers vets an alternative way to operate and own their own clinic, which can be quite compelling. We look forward to continuing to support easyvet's growth plans as well as more broadly continuing our mandate to invest across veterinary healthcare in the U.S. and in Europe."
Founded in 2013, easyvet is committed to offering convenient and affordable veterinary care from friendly and compassionate veterinarians and staff. What started as a mission of making pet care convenient and affordable for pet parents, has expanded to include making clinic ownership possible for both doctors and investors. For more information, visit www.easyvet.com.
UNAVETS Group has a leadership position in the veterinary healthcare market in Iberia (Spain and Portugal), developing in 2 years a group that offers shared services and commercial/development support to its more than 69 practices and over 600 team members. The group includes referral/specialist centers, 24-hour hospitals, first opinion clinics, and local veterinary offices, thus ensuring a convenient and complete service. Plans are in place to continue its growth strategy in Iberia and other European geographies, while developing new lines of service, innovating with digital engagement internally and with its customers, and promoting veterinary healthcare training and scientific development within the clinical team. For more information, please visit www.unavets.com. UNAVETS was funded in December 2019 by Oaktree, a leader among global investment managers specializing in alternative investments, with $164 billion in assets under management as of March 31, 2022. The firm emphasizes an opportunistic, value-oriented and risk-controlled approach to investments in credit, private equity, real assets, and listed equities. The firm has over 1,000 employees and offices in 20 cities worldwide. For additional information, please visit Oaktree's website at http://www.oaktreecapital.com/.
VP of Marketing, easyvet
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