"Veterinary prices have soared more than 60% over the past decade, according to federal stats. Private equity firms and large corps have bought 100s of facilities around the country, an acquisition spree reminiscent of the corporate roll-ups of doctors’ offices." www.nytimes.com/2024/06/23/h...
People have grown more attached to their pets — and more willing to spend money on them — turning animal medicine into a high-tech industry worth billions.
Can confirm. A friend works for an accounting firm and VCA is raking in the cash, while our old vet has to shutter his shop.
It makes total sense from a total bastard perspective. Pet insurance to negotiate prices is rare and a lot of people would spend money on their pet’s health before their own. It really is evil.
And pet insurance is very expensive, too.
These vampires squeezing the blood out of entire industries to enrich themselves at the expense of everyone else's ability to afford basic living should all be dragged out into the streets and [REDACTED]
Biden's FTC has started to investigate this practice, it didn't used to even need to be reported, because each acquisition was under the reporting threshold. www.ftc.gov/news-events/...
The Federal Trade Commission and the Justice Department’s (DOJ) Antitrust Division jointly launched a public inquiry to identify serial acquisitions and roll-up strategies throughout the economy th
We have had trouble finding a vet taking new patients after moving to NY The one we did retired, and clearly sold her practice to not-a-vet as it’s been interim vets ever since We need to stay because of the need for annual shots/checkups but I hate the lack of continuity of care
Once again the invisible dick of capitalism fucks us all.
In April 2023 the @WHYY public radio show Fresh Air With Terry Gross did an episode on How Private Equity Firms Widen The Income Gap www.npr.org/2023/04/26/1...
Everything they touch in this country ends up for the worse.