BUYER POOL ANALYSIS
Selling a veterinary practice to Strategic / Industry buyers
Industry operators, larger competitors, and corporate buyers acquiring for synergies, geographic expansion, or capability fill. Typically pays a premium for clear strategic fit but discounts for integration cost and overlap.
Quick answers
- What multiple does this buyer pool pay?
- Median EV/EBITDA 15.45x across 12 disclosed deals (P25: 10.03x, P75: 19.45x). Median EV/Revenue 1.93x across 16 deals. Median deal value: $429.24M.
- How many disclosed transactions?
- 18 deals total (7 from 2018+), filtered to Strategic / Industry acquirers of veterinary practice businesses.
- Most active buyers
- ArchiMed SAS (1) · Swedencare AB (publ) (1) · Coloplast A/S (CPSE:COLO B) (1) · VetCor (1) · National Veterinary Associates (1) · Mars Petcare (1)
Recent disclosed deals
Strategic / Industry acquisitions of veterinary practice businesses with named target, named acquirer, and disclosed financials.
| Year | Target | Acquirer | EV | EV/EBITDA | EV/Rev |
|---|---|---|---|---|---|
| 2025 | ARK Diagnostics, Inc. | ArchiMed SAS | $422.1M | — | 7.44x |
| 2024 | MedVant Inc | Swedencare AB (publ) | $3.2M | 27.0x | 13.87x |
| 2023 | Kerecis LLC | Coloplast A/S (CPSE:COLO B) | $1300.0M | — | 17.48x |
| 2022 | People, Pets, & Vets | VetCor | $1100.0M | 19.5x | — |
| 2021 | SAGE Veterinary Centers | National Veterinary Associates | $1250.0M | 25.0x | — |
| 2018 | AniCura AB | Mars Petcare | $2400.0M | — | 6.23x |
What this buyer pool prices for
Strategic buyers — operators in adjacent geographies, larger competitors, or corporate consolidators — price for synergies and capability fill. They tend to discount integration cost and overlap risk but pay above market when there's clear strategic fit (key customer relationship, license, geography, technician/professional team). Multiples are competitive with PE for fee-viable deals; below PE for sub-scale acquisitions.
Methodology note
Multiples shown are computed from disclosed M&A transactions in the ExitValue.ai database, filtered to veterinary practice businesses acquired by strategic / industry buyers. EV/EBITDA outliers outside the [0.5x, 60x] band and EV/Revenue outliers outside [0.05x, 25x] are excluded from medians. Where available, post-2018 transactions are weighted; otherwise the all-time sample is used. Deal counts shown reflect deals with disclosed financials only — total transaction count for this buyer pool is typically 2-3x larger. Full methodology
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