Covetrus Company Profile

Background

Covetrus is a global leader in animal health technology and services, dedicated to advancing veterinary medicine and empowering healthcare teams across companion, equine, and large-animal health markets. Formed in 2019 through the merger of Vets First Choice and Henry Schein Animal Health, Covetrus combines products, services, and technology into a single platform to drive better financial and clinical outcomes for veterinarians. Headquartered in Portland, Maine, the company operates in over 25 countries, serving more than 100,000 veterinary practices worldwide.

Key Strategic Focus

Covetrus focuses on delivering comprehensive solutions that streamline veterinary practice operations. Its offerings include practice management software, data-driven applications, client communication tools, prescription management services, and a broad range of animal health products. By integrating these services, Covetrus aims to enhance patient care, strengthen client relationships, and improve financial outcomes for veterinary professionals.

Financials and Funding

In October 2022, Covetrus was acquired by private investment firms Clayton, Dubilier & Rice (CD&R) and TPG for $4 billion, transitioning the company to private ownership. Prior to this acquisition, Covetrus reported annual revenues of approximately $4.7 billion and employed around 5,500 individuals globally.

Technological Platform and Innovation

Covetrus offers a suite of proprietary technologies designed to enhance veterinary practice efficiency:

• Covetrus Connect: A comprehensive platform that integrates practice management software, data applications, and client communication tools, enabling veterinarians to manage operations and patient care seamlessly.

• Prescription Management Service: Simplifies the prescription process by allowing veterinarians to send prescriptions directly to Covetrus, which then manages payment processing and delivers medications to pet owners.

• Covetrus North America (CNA): An online marketplace providing veterinary practices access to a wide range of animal health products and supplies from over 2,800 suppliers, featuring a streamlined ordering process and competitive pricing.

Leadership Team

• Benjamin Wolin: President and Chief Executive Officer. Joined Covetrus in October 2019. Previously co-founded and led Everyday Health, Inc., a prominent digital health platform. Holds a Bachelor of Arts in History from Bowdoin College.

• Nicholas Jansen: Global Chief Financial Officer. Instrumental in Covetrus' formation in 2018. Former Managing Director at Raymond James with a focus on healthcare services. Holds an MBA from the University of Florida.

• Amy Sanford: Global General Counsel and Chief Human Resources Officer. Joined in February 2024. Previously served as Executive Vice President, General Counsel, and Corporate Secretary at U.S. Anesthesia Partners. Holds a Juris Doctorate from Yale Law School.

• Link Welborn, DVM, DABVP: Chief Veterinary Officer. Joined in January 2021. Diplomate of the American Board of Veterinary Practitioners and owner of seven AAHA-accredited hospitals.

• Matt Yordy: President, North America. Joined in January 2023. Former President of Strategic Accounts and Senior Vice President of U.S. Operating Strategy at McKesson.

• Kelly Gottfried: Chief Commercial Officer, North America. Joined in June 2023. Over 20 years of marketing leadership experience at Johnson & Johnson.

• Bill Ng: Chief Operating Officer, North America. Joined in September 2024. Held leadership positions at McKesson and Zwift.

• Scot Gillespie: Chief Product and Technology Officer, North America. Joined in March 2023. Former GM of Commerce Cloud at Salesforce.

• Pete Perron: President, International. Expanded role in December 2024. Former President of Provider Solutions at McKesson.

• Graham Rhodes: Vice President of Finance and IT, Europe and Latin America. Joined in February 2019. Former CFO of European Animal Health at Henry Schein.

• Gail Davidson: Vice President of HR for Europe and Latin America. Joined in June 2018. Over 25 years of HR experience.

• Diana Leister: Vice President of Legal, International & Deputy General Counsel. Joined in November 2019. Nearly 20 years of legal experience.

• Simon Hellams: Senior Vice President, Asia Pacific. Joined in February 2020. Over 25 years in the animal health industry.

• Michael Went: Vice President of Finance, Asia Pacific. With Covetrus since 2006. CPA with a degree in Business.

• Kerrie McDonald: Senior Director of Human Resources, Asia Pacific. Joined in March 2022. Over 15 years of global HR leadership experience.

Competitor Profile

Market Insights and Dynamics

The global animal health market is experiencing significant growth, driven by increasing pet ownership, rising expenditure on pet care.