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đź”´ PRIVATE EQUITY OWNED
National Veterinary Associates
veterinary · Agoura Hills, CA
PE Firm
JAB Holding Company
Year Acquired
2019
“Your vet bill is paying for a Luxembourg holding company's returns.”
The PE Playbook
- •JAB Holding acquired NVA's 1,000+ vet practices in 2019
- •Senators Warren and Blumenthal investigated JAB's impact on pet care pricing in 2024
- •Vet costs jumped 32% from 2020-2024 per Bureau of Labor Statistics
- •Between VCA (Mars) and NVA (JAB), two mega-corporations now control thousands of your local vets
Since the Acquisition
- ▸FTC took action against JAB twice — requiring divestitures in both the 2019 NVA acquisition and a 2022 Ethos Veterinary Health deal
- â–¸Vet workers reported five service fee increases within a single year, each between 3% and 6%, climbing immediately after acquisition
- ▸Veterinarians describe increased pressure to 'do more and see more patients' — overworked staff feel compelled to upsell expensive tests
- â–¸Research found significant pricing differences between corporate-owned and independent vet clinics in the same area