Pets’ vets arm seals funding for growth

PETS at Home, the North West retailer, is creating around 200 jobs with the launch of more than 30 in-store veterinary practices.

The group’s subsidiary Companion Care has secured a £10m facility from the Co-operative Bank to fund the venture.
 
With an average of seven new jobs created at each veterinary practice it is anticipated over 200 jobs will be created over the next two years.

Jane Balmain, managing director of Companion Care said: “The success of our joint venture partnership model has been proven by the continued success of our network of surgeries and our continued expansion across the UK. 

“Our formula has already made us one of the UK’s leading providers of small animal veterinary services and we continue to buck the trend of flat growth in the sector.”

A subsidiary of Pets at Home, Companion Care partners with vets and allows them to focus on their career with complete clinical freedom.

Launched in 2001, turnover from the vets practices has grown over the last 12 years from £5m to over £57m with over 1,200 people employed.

Steve Bateman from The Co-operative Bank’s corporate banking centre in Oxford, led the deal.

He said: “Over 12 years Companion Care have continually developed and deployed a business model which has proven to be robust and incredibly successful. They have consistently opened new veterinary practices year after year and have ambitious plans for the future, which we are delighted to support.

“As an ethical provider it is also satisfying to support a company which helps people to set up their own business and create new jobs.”