GoodVets Announces Strategic Growth Investment from General Atlantic to Fuel Continued Expansion of Leading Veterinary Care Platform
September 13, 2023
September 13, 2023 – Chicago, IL – GoodVets Group LLC (“GoodVets”), a leading modern, single-brand veterinary care platform purpose-built to better serve pet owners and vets through premier medicine, customer service, technology, and design, today announced it has received a strategic growth investment from General Atlantic, a leading global growth equity firm. General Atlantic joins existing investor SkyKnight Capital, L.P. (“SkyKnight”).
Founded in 2016, GoodVets partners with entrepreneurial veterinarians to build and operate state-of-the-art care facilities in fast-growing markets, elevating the veterinary healthcare experience by bringing convenient, superior care closer to home. The Company’s mission is to reimagine today’s companion animal care experience, empower veterinarians to have autonomy and buy-in as participating owners, and deliver a wonderful healthcare experience for pets.
Under GoodVets’ leadership, veterinarians act as local hospital owners while benefitting from GoodVets’ centralized resources and support, including employee training, career development, attractive compensation packages, marketing, and industry-leading technology. General Atlantic has committed strategic resources and capital to help GoodVets accelerate its de novo strategy and achieve its goal of building the premier national provider of general and urgent veterinary care services.
GoodVets currently operates 22 care centers in 11 metropolitan areas, including Chicago, Atlanta, Miami, Tampa, Nashville, Charlotte, and Denver, with new sites planned to open in New York City, Los Angeles, and Dallas in the coming months.
Ryan Joseph, Co-Founder and CEO of GoodVets, said, “This collaboration not only validates our unwavering commitment to the betterment of veterinary care but also signifies a momentous leap forward in achieving our mission. With General Atlantic by our side, we are equipped with the financial strength, expertise, and global network to empower veterinarians nationwide. Together, along with SkyKnight’s steadfast support, we will continue to innovate, create, and drive the transformation of the veterinary industry, ultimately improving the lives of animals and the professionals who care for them.”
“GoodVets has emerged as a leader in the de novo veterinary market, taking a fresh approach and offering an excellent experience for pets, pet parents, and veterinarians,” commented Andrew Ferrer, Managing Director at General Atlantic. “We are excited to partner with Ryan and the team to continue to accelerate GoodVets’ growth and build a scaled national veterinary platform in the years to come.”
“Having spent multiple years focused on the veterinary market, we have been highly impressed with GoodVets’ strategy and differentiation,” added Ben Sherman, Vice President at General Atlantic. “General Atlantic shares GoodVets’ commitment to empowering entrepreneurship, and we look forward to helping the company bring this partnership approach to new locations around the country.”
Jordan Milich, Partner at SkyKnight Capital, said, “GoodVets pioneered a unique partnership approach with veterinarian owners – a strategy that mirrors SkyKnight’s core philosophy of ownership alignment with entrepreneurs. General Atlantic shares this foundational belief, and we are thrilled to collectively support GoodVets in building the industry-defining company in veterinary care.”
Jefferies LLC served as exclusive financial advisor and Holland & Knight LLP served as legal advisor to GoodVets. Piper Sandler & Co. served as financial advisor and Paul Weiss served as legal advisor to General Atlantic.
GoodVets is a veterinary care platform providing elevated pet healthcare in beautifully designed, newly built spaces for today’s pet community. GoodVets partners with entrepreneurial veterinarians who want to own and lead their own practices and redefine the veterinary care experience for their communities. GoodVets hospitals prioritize wellness, prevention, and urgent care. More information is available at www.goodvets.com.
About General Atlantic
General Atlantic is a leading global growth equity firm with more than four decades of experience providing capital and strategic support for over 500 growth companies throughout its history. Established in 1980 to partner with visionary entrepreneurs and deliver lasting impact, the firm combines a collaborative global approach, sector specific expertise, a long-term investment horizon and a deep understanding of growth drivers to partner with great entrepreneurs and management teams to scale innovative businesses around the world. General Atlantic has more than $77 billion in assets under management inclusive of all products as of June 30, 2023, and more than 220 investment professionals based in New York, Amsterdam, Beijing, Hong Kong, Jakarta, London, Mexico City, Miami, Mumbai, Munich, San Francisco, São Paulo, Shanghai, Singapore, Stamford and Tel Aviv. For more information on General Atlantic, please visit: www.generalatlantic.com.
About SkyKnight Capital
Founded in 2015, SkyKnight Capital manages over $3 billion in private equity capital on behalf of leading institutional family offices, foundations, endowments, and pensions. SkyKnight makes long-term investments into high quality businesses in acyclical growth sectors alongside exceptional management teams. SkyKnight aims to build industry defining businesses in healthcare, financial services, and tech-enabled services. More information is available at www.skyknightcapital.com.