LuxVet Group Expands into Romanian Veterinary Market

LuxVet Group (“the Group”), the leading platform of veterinary practices in Poland, has started expanding into Eastern European markets. In a recently finalized transaction, the Group became the owner of Vetzone Spital Veterinar, a modern 24-hour veterinary clinic in Romania. There are plans to acquire other practices in the country. At the same time, the Group is continuing its rapid expansion in Poland – the country with the largest pet population in Europe – where it has already achieved the position of market leader with nearly 40 practices.

LuxVet Group’s strategy is based on a ‘buy-and-build’ model. The company supports the transformation of the Polish veterinary healthcare market by acquiring and investing in the further development of existing veterinary practices and synergistic adjacencies providing additional services to the sector. At the same time, the company is building a state-of-the-art veterinary referral hospital in Warsaw, which will be an important link in the reference network and a natural destination for patients requiring advanced specialist care – ranging from emergency and critical care to orthopaedics, neurology, dentistry, diagnostic imaging, and more.

The Group has secured capital support from three investment funds: funds managed by Oaktree Capital Management, L.P. as the majority shareholder (also a shareholder in UNAVETS Group, the leading veterinary platform in the Iberian Peninsula and sister platform of LuxVet), Cornerstone Investment Management and INVL Baltic Sea Growth Fund. The success of the business model and the position achieved by the LuxVet Group in Poland encouraged the investors to make the decision to expand to other markets in Central and Eastern Europe.

- With a passion for the well-being of our four-legged companions, the LuxVet Group has consistently set standards for veterinary platforms; entering new markets not only expands our geographic reach, but also demonstrates the company’s commitment to improving the lives of pets and pet parents. Entering the Romanian market reflects the LuxVet Group’s mission to make exceptional veterinary services accessible to all. From the very beginning, our intention was to create a leading veterinary platform in the region, with the same emphasis on innovation and technology as on compassionate care for pets. This step confirms that launching this project was the right decision. - comments Tomasz Jemielity, Vice President at Cornerstone Investment Management.

The acquisition of Vetzone Spital Veterinar, a reputable veterinary clinic in Romania, marks LuxVet Group’s first international expansion. Founded by veterinarian couple, Laurentiu and Cristina Leica, Vetzone Spital is a 24-hour facility is located in Constanta on the Black Sea coast. It employs 16 veterinarians and 7 technicians and offers a wide range of specialist services, including surgery, orthopaedics, dermatology, allergology, internal medicine, endocrinology, cardiology, dentistry and emergency care.

After the first successful transaction, the LuxVet Group plans to make other acquisitions in Romania and expand further in Central and Eastern Europe in the future.

- We have created a business model that works – not only for the investors, but it is equally beneficial for clinic owners and employees. We have tested it in Poland, and we know that it works and significantly supports the transformation of the entire sector towards Western European standards of work and patient care. Today we are ready to implement a similar model in other countries of Central and Eastern Europe. We are starting with Romania, where we see many similarities with our country, for example in terms of market size or its current fragmentation. This is a great opportunity for us and a very promising outlook for the future. - says Piotr Zajączkowski, CEO of the LuxVet Group.

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About LuxVet Group

LuxVet Group has been consolidating and developing the veterinary sector in Central and Eastern Europe through a flexible partnership business model based on respect for the past achievements of the entities being integrated. By working with doctors and owners of leading animal health institutions and building its first hospital for small animals in Poland, the LuxVet Group develops top quality veterinarian services and raises the standards of work in the veterinary sector across Poland.

LuxVet Group has secured capital support from three investment funds: funds managed by Oaktree Capital Management, L.P. as the majority shareholder (which is also a shareholder in UNAVETS Group, the leading veterinary platform in the Iberian Peninsula and sister platform of LuxVet), Cornerstone Investment Management and INVL Baltic Sea Growth Fund.

www.grupaluxvet.pl