AGOURA HILLS, Calif. & CONCORD, Calif.--(BUSINESS WIRE)--National Veterinary Associates ("NVA"), a global community of 1,150 best-in-class veterinary hospitals and SAGE Veterinary Centers ("SAGE"), a premier provider of specialty and emergency medicine, today announced that SAGE has agreed to join forces with NVA Compassion-First, NVA's specialty and emergency veterinary group. Following a comprehensive review of potential partners, SAGE and Chicago Pacific Founders, SAGE's investor, selected NVA Compassion-First as the new home for the SAGE network of hospitals. Reflecting SAGE and NVA Compassion-First’s strongly aligned approach to veterinary care, SAGE's management, their Founding Veterinarians and Chicago Pacific Founders will roll over a portion of their investment proceeds into stock in NVA as part of the transaction. Together, NVA Compassion-First and SAGE will further their shared purpose of delivering compassionate and exceptional medicine for pets and their families.
Veterinarian-founded in 1997, NVA is a leading global community of 1,150 independently managed veterinary hospitals across the US, Canada, Australia, New Zealand, and Singapore, united in the love of animals and the people who love them. SAGE will join NVA Compassion-First's 85 specialty, emergency and surgical hospitals, which have distinguished themselves as innovative and compassionate leaders in providing world-class medicine.
Founded in 1992, SAGE Veterinary Centers is one of the leading veterinary groups, providing business and clinical support services to veterinary hospitals in Alaska, California, Texas, and Washington. Committed to the advancement of quality veterinary care, SAGE has established itself as a tight-knit community of talented and thriving veterinarians with a stellar reputation for clinical expertise and a culture of collaboration.
"We are thrilled to welcome the SAGE team and their Founding Doctors to the NVA Compassion-First family," said Greg Hartmann, Chief Executive Officer of NVA. "This combination marks an important step towards our vision to build the leading global specialty and emergency veterinary hospital group affording veterinarians the opportunity to collaborate and advance medical capability. Our shared values of compassion, teamwork, and innovation will prove essential as we expand our mission to provide best-in-class medicine to pets and their families."
"SAGE is elated to have found the right partner for the next chapter in our story," said Gina Del Vecchio, Chief Executive Officer, SAGE Veterinary Centers. "NVA Compassion-First's shared purpose and dedication to collaboration, innovation, and investment in the future of specialty and emergency veterinary medicine will create additional opportunities for our network to thrive and grow, including across borders. Our combined resources will expand our collective ability to support and enable our incredible veterinarians and clinical teams in all the communities we serve. I am confident that our talented veterinary, clinical and business support teams, patients, and their families will see significant benefits from joining NVA Compassion-First."
Skadden, Arps, Slate, Meagher & Flom LLP, and Crowell & Moring LLP provided legal counsel to NVA. Jefferies LLC served as exclusive financial advisor and Katten Muchin Rosenman LLP served as legal counsel to SAGE Veterinary Centers.
About NVA and NVA Compassion-First
NVA is a leading global veterinary community of over 1,150 independently managed veterinary hospitals providing specialty, emergency, and general medical care united in the love of animals and the people who love them. Rooted in a culture of compassion and innovation, NVA Compassion-First is NVA's specialty and emergency care group of 1,200+ board-certified specialists and emergency doctors across 85 veterinary centers providing a full range of advanced medical, surgical and specialized services. NVA Compassion-First champions each hospital's unique culture and opportunities by enabling innovation, collaboration, and a commitment to delivering exceptional care to pets and their families. For more information, visit www.nva.com.
About SAGE Veterinary Centers
SAGE is one of the leading veterinary groups in the western United States providing business and clinical support services to 16 locations across four states, including Alaska, California, Texas, and Washington. Since its inception in 1992, SAGE has embodied a patient-first philosophy and commitment to collaboration, leading to a reputation for delivering innovative veterinary medicine using the most advanced technologies available.
About Chicago Pacific Founders
Based in Chicago and San Francisco, Chicago Pacific Founders ("CPF") is a leading strategic healthcare private equity firm focused exclusively on investing in growth companies within healthcare services, value-based care, and caring for aging populations. With approximately $1.0 billion of assets under management, CPF's leadership team is made up of former healthcare CEOs and senior executives with a passion and track record of building healthcare businesses. CPF believes that the most significant societal impact and investment returns from healthcare for the next decade will be generated by investment in delivery model innovation. CPF actively looks to partner with organizations focused on delivering the highest quality of service to patients and providers. The firm will invest up to $100 million of equity capital per opportunity in growth, minority recap, and buyout transactions for cash flow positive businesses. For more information about Chicago Pacific Founders, visit www.cpfounders.com.