FTC Approves Final Order Against JAB Consumer Partners to Protect Veterinarians from Private Equity Firm’s Rollup of Veterinary Services Clinics | So Good News
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Following the public comment period, the Federal Trade Commission has completed the licensing process against JAB Consumer Partners which was designed to prevent the private equity firm from including private hospitals and emergency clinics.
As JAB wants to acquire $ 1.65 billion of the parent company of Ethos, in June 2022. The FTC ordered the removal of hospitals in Richmond, Va., Denver, San Francisco, and the Washington, DC area.. The board also established strong approval and disclosure requirements for both JAB and the divestiture buyer for future acquisitions of private and emergency hospitals.
JAB is the parent company of two companies that operate chains of veterinary hospitals that provide general, specialty, and emergency care – Compassion-First Pet Hospitals and National Veterinary Associates, Inc. Ethos has specialty and emergency hospitals in nine countries.
According to the complaint, the deal is part of the growing consolidation of the emergency and specialty medical markets in the United States in recent years by major chains, including JAB, which has always controlled local markets in the United States with a view to continuing. growth through acquisitions of small and large specialty and emergency hospitals.
The Commission vote approving the final permit was 5-0.
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