HBAN - MedVet Receives Financing to Support Continued Growth in Specialty Healthcare for Pets | Benzinga
WORTHINGTON, Ohio, June 25, 2024 (GLOBE NEWSWIRE) -- MedVet LLC, a leading provider of emergency and specialty veterinary care, today announced that it has received a minority capital investment from Leonard Green & Partners, L.P. (LGP) and a senior term loan from Oak Hill Advisors (OHA). Huntington Bank will continue to provide Treasury and cash management services. These investments will help MedVet accelerate its next stage of growth expanding delivery of specialty and emergency veterinary care, provide minority shareholders a successful exit from their 2019 investment, and provide partial liquidity for some of MedVet's employee owners.
"As the largest veterinarian owned and led organization in the U.S., MedVet is dedicated to delivering the most comprehensive and collaborative specialty healthcare for pets. We are pleased to have the support of Alyse Wagner, Andrew Lee, and the LGP team as we grow to serve more communities while continuing to provide a liquid investment to our owners, 95% of whom are current or retired doctors and employees," said Dr. Linda Lehmkuhl, a veterinary cardiologist, and Chief Executive Officer of MedVet.
MedVet plans to continue expanding its network of specialty and emergency hospitals to serve more pets throughout the United States, while providing a compelling environment for ...