The Vet - Bridges Fund Management

    

    























 






    
	            
			    
    



		
		    

    
    
    





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The Vet

First-opinion veterinary services provider offering affordable, quality and convenient care to domestic pets across the UK

Investment Strategy

Growth Business

Theme

Stronger Communities

Date of initial investment

February 2013

Bridges Executives

Antony Ross
Daniel Knight

Challenge

There are many health benefits of owning a domestic pet, ranging from improved cardiovascular health to a reduced risk of asthma and hay fever in children exposed to pet allergens, and a better overall physical and psychological well-being. For the elderly, domestic pets also provide companionship and encourage a sense of responsibility and awareness in caring for another being. Yet veterinary service pricing and pet insurance cost inflation have far outstripped UK inflation over the past decade, putting such services out of reach of many lower-income pet owners. Additionally, traditional veterinary services have not evolved to match the pressures of modern lifestyles, which means that pet owners can often be forced to postpone veterinary care for their pets.

Investable Solution

Bridges incubated The Vet with the aim of opening up the veterinary services market to a much broader customer base. The Vet offers a broad range of services for domestic pet owners, with a focus on providing outstanding quality care – delivered by experienced clinical staff – and maximising convenience for its customers. With longer opening hours and no need for appointments, The Vet meets the growing demand for more affordable and more accessible high-quality veterinary services.

Outcome

Over the last three years, the proportion of customers who have never previously been to a vet has reached an average of over 40%. The Vet customers span a full range of income demographics as its high-convenience, quality and a modern approach to service also attract less price sensitive customers.

www.thevet.co.uk