Apollo Veterinary

Background

Apollo Veterinary is a privately-owned, veterinarian-founded company established in 1999 by Dr. Steven Whatley in Albany, Georgia. The company operates nine full-service veterinary hospitals across Alabama, Georgia, South Carolina, and Florida. Apollo Veterinary is dedicated to providing exceptional veterinary care, offering a comprehensive suite of services including surgery, wellness exams, diagnostic services, pharmaceutical sales, boarding, and grooming. The company's mission is to enhance the well-being of clients, patients, and team members by embracing innovation, compassion, and excellence in animal care.

Key Strategic Focus

Apollo Veterinary's strategic focus centers on delivering high-quality veterinary services while expanding its presence in the pet care industry. The company emphasizes transparency and open communication with clients, ensuring trust and the highest standards of well-being for all. Apollo Veterinary has also diversified its operations by acquiring and developing Pet Supplies Plus retail franchises, aiming to provide a holistic pet care experience that combines veterinary services with retail offerings.

Financials and Funding

In June 2023, Apollo Veterinary, through its subsidiary AVMH Ventures, completed a recapitalization and acquisition of a multi-state portfolio of Pet Supplies Plus stores. This strategic move was facilitated with advisory support from Matrix Capital Markets Group. The investment was utilized to acquire existing Pet Supplies Plus locations, develop new stores, and expand the veterinary hospital network.

Pipeline Development

Apollo Veterinary is actively expanding its portfolio by acquiring veterinary clinics with at least two doctors of veterinary medicine (DVMs) and Pet Supplies Plus franchised locations. The company targets veterinary clinics with minimum revenues of $1.1 million and focuses on the Southeast U.S. and adjacent regions for veterinary clinics, while its Pet Supplies Plus expansion spans the entire United States.

Technological Platform and Innovation

Apollo Veterinary integrates innovative technology solutions to enhance the veterinary experience. The company offers upfront pricing transparency, flexible payment options, and improved access to the veterinary team through digital platforms. Additionally, Apollo Veterinary provides flexible health exam options, including in-home visits, appointments at favorite dog parks, or virtual consultations, ensuring convenience and comprehensive care for clients and their pets.

Leadership Team

Dr. Steven Whatley: Founder and CEO. Dr. Whatley established Apollo Veterinary in 1999 and has been instrumental in expanding the company's operations and services.

Competitor Profile

Market Insights and Dynamics

The veterinary services market is experiencing significant growth, driven by increasing pet ownership and the humanization of pets. The demand for comprehensive pet care services, including medical care, grooming, and retail products, continues to rise, presenting opportunities for integrated service providers like Apollo Veterinary.

Competitor Analysis

Covetrus, Inc.: An American company providing animal health products and related services, operating primarily in North America, Europe, and Asia-Pacific. Covetrus serves approximately 100,000 veterinary practices globally.

Banfield Pet Hospital: A subsidiary of Mars Inc., Banfield operates over 1,000 veterinary clinics across the United States, Mexico, and the United Kingdom, many located within PetSmart stores.

VCA Animal Hospitals: Also owned by Mars Inc., VCA operates more than 1,000 animal hospitals in the U.S. and Canada, offering a wide range of veterinary services.

BluePearl Specialty and Emergency Pet Hospital: A subsidiary of Mars Inc., BluePearl operates specialty and emergency veterinary hospitals throughout the United States, employing over 1,300 veterinarians.

The Vets: An American veterinary services company specializing in at-home veterinary care, operating in 19 locations within the United States.

Strategic Collaborations and Partnerships

Apollo Veterinary has strategically partnered with Pet Supplies Plus, a leading pet supply retailing corporation, to expand its retail operations. Through AVMH Ventures, Apollo Veterinary has been building and acquiring Pet Supplies Plus locations across the United States since 2021. This partnership aims to provide a comprehensive pet care experience by combining veterinary services with retail offerings.

Operational Insights

Apollo Veterinary's integration of veterinary services with pet retail through its partnership with Pet Supplies Plus positions the company uniquely in the market. This approach allows Apollo Veterinary to offer a one-stop solution for pet owners, enhancing customer loyalty and differentiating itself from competitors who primarily focus on either veterinary services or retail.

Strategic Opportunities and Future Directions

Apollo Veterinary is poised for continued growth through the expansion of its veterinary hospital network and Pet Supplies Plus retail locations. By focusing on markets in the Southeast U.S. and adjacent regions, the company aims to strengthen its presence and meet the increasing demand for comprehensive pet care services. Leveraging technological innovations and flexible service delivery models, Apollo Veterinary is well-positioned to adapt to evolving client needs and industry trends.