'Life and Death' for Pets: Elizabeth Warren Targets Firm Buying Veterinary Offices

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Like many of you, I've noticed that my vet costs have skyrocketed since 2020 and, it just so happens, that my vet's practice is owned by one of these companies.

https://www.rollingstone.com/politics/politics-news/elizabeth-warren-targets-private-equity-firm-veterinary-offices-1235075465/

The magazine’s investigation focused on a Houston-area veterinary hospital owned by JAB Holding Company, a German-owned private equity firm best known for its investments in bakery chains and beverage companies. In recent years, JAB has scooped up so many specialty and emergency veterinary hospitals that the Federal Trade Commission has already twice ordered the firm to divest its clinics in certain areas. The firm is also buying up pet insurance companies.

Now, progressive Sen. Elizabeth Warren (D-Mass.) is seeking to apply pressure on JAB. On Tuesday, Warren and Sen. Richard Blumenthal (D-Conn.) sent a letter to the firm requesting extensive details about JAB’s interests in veterinary practices and pet insurers. The letter was shared exclusively with Rolling Stone.

In a press release, Warren and Blumenthal write, “Veterinarians at private equity-owned practices have reported being overworked and pressured to upsell patients on expensive tests and procedures. At some practices, corporate managers require clinicians to meet demanding quotas for certain procedures, tying their income to the amount of revenue that they generate.”

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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