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Following a public comment period, the Federal Trade Commission has finalized a consent order against JAB Consumer Partners designed to prevent the private equity firm from further consolidating control over specialty and emergency veterinary clinics.

As a condition of JAB’s proposed $1.65 billion acquisition of the parent company of veterinary clinic owner Ethos, in June 2022, the FTC ordered it to divest clinics in Richmond, Va., Denver, San Francisco, and the Washington, D.C area. The Commission also imposed strong prior approval and prior notice requirements on both JAB and its divesture buyers for future acquisitions of specialty and emergency veterinary clinics.

JAB is the parent company of two firms that operate chains of veterinary clinics providing general, specialty, and emergency care – Compassion-First Pet Hospitals and National Veterinary Associates, Inc. Ethos owns and operates specialty and emergency veterinary clinics in nine states.

According to the complaint, this deal is part of a growing trend towards consolidation in the emergency and specialty veterinary services markets across the United States in recent years by large chains, including JAB, which regularly monitors local markets throughout the United States in contemplation of continued growth through potential small and large acquisitions of specialty and emergency clinics. 

The Commission vote approving final consent order was 5-0.

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Mike Barnett
Bureau of Competition