Elizabeth Warren says private equity takeovers of veterinary practices are harming “veterinarians and customers alike.”
one reason why: Private equity firms have rapidly acquired veterinary practices, and now own nearly 30 percent of the marketplace.
“Given that more than two-thirds of U.S. households own a pet, corporate consolidation of veterinary care and an accompanying rise in prices represents a major issue for American consumers and a life and death issue for their pets,” the senators write, adding: “Private equity rollups of veterinary practices harm veterinarians and customers alike.”
They add, “Private equity firms have also raised the cost of veterinary services, exploiting consumers’ love for their pets to make a profit. Since 2014, prices for veterinary services have risen by 60 percent, with prices well over $300 per visit.”
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