York-based vet group announces acquisition of first sites in France and expects more to sell in the coming months due to the impact of coronavirus.
VetPartners has announced the acquisition of five veterinary practices in France.
Earlier this year, the York-based group appointed qualified veterinary surgeon Vincent Parez as managing director for France, signalling its intention to expand into Europe.
Last year, VetPartners began to expand into Italy – and Mr Parez believes the effects of the coronavirus pandemic will see more French practices wishing to join the group in the coming months.
He said: “The pandemic will have a profound effect on the profession and lead to more consolidation in the veterinary industry because vets need more support.
“We have already received a lot of interest from practice owners and, now we are returning to normal life, the first French practices will be joining VetPartners.”
Mr Parez (pictured) added: “I think vets [older than] 40 are already looking for a more secure future and dealing with the effects of a pandemic will have an impact on their mindset.
“Vets in France were not equipped for all the problems that came with the pandemic and many don’t have the resources or the cashflow when faced with this kind of experience, so this is the sort of help they will receive if they join a larger veterinary group.”
VetPartners is backed by international investment company BC Partners, which has €17 billion (£15.4 billion) of assets under management in private equity and credit across the globe.
VetPartners already owns 130 UK veterinary practices, with 5,522 employees working in nearly 450 sites.
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