In October 2019 L1 Health acquired Destination Pet and launched a new animal health and wellness platform in the U.S. and Europe. Destination Pet is a leader in pet health care services and a trusted high-quality pet care and vet services provider
Headquartered in Highlands Ranch, Colorado, Destination Pet offers pet owners veterinary services combined with other pet health and wellness services. In the U.S., Destination Pet is recognised by the vet community and pet owners as a partner and provider of choice. The Destination Pet platform allows veterinary practices to maintain their local culture, branding, and operating teams, while benefiting from the operating technology, standards and economics of a global clinic network.
Destination Pet takes advantage of strong macro trends in the global pet care market. The growing humanization of pets coupled with the hectic schedule of pet owners is driving demand for pet health and wellness services. With a growing love for pets and pets living longer with age-related diseases, pet owners expect increasingly sophisticated care and support for their companions. At the same time, pet owners value authenticity and local relationships. Destination Pet is well positioned to deliver both.
This acquisition enables experienced operating executives from the animal health industry to draw on L1’s long-term source of capital and sophisticated operating expertise to scale up the business globally. In addition to its ongoing rollup program, Destination Pet completed on 30 March 2020 the acquisition of VitalPet, a network of 24 veterinary hospitals, to build out its footprint and accelerate growth.
L1 aims to be a global leader in pet health and wellness services and will commit up to $450m overall to invest in this sector.
"Since the very beginning, L1 Health provided us with the right support and capital to achieve our long-term growth ambitions. There is regular engagement between us and the L1 Health team to identify areas where L1’s capabilities can support the growth of our platform."Shane KellyCEO Destination Pet
For more information on Destination Pet, click here.