Ex-Banfield execs plan new veterinary hospital chain
Heart + Paw, with $100 million in funding, will focus first on the East Coast.
Banfield Pet Hospital’s former CEO, Vincent Bradley, and two other former executives are leading a well-funded start-up company that plans to build 200 full-service veterinary clinics starting in the Northeast and mid-Atlantic states.
The brand, Heart + Paw, is backed by $100 million from the Chicago-based private equity firm Waud Capital Partners.
Bradley stepped down as president and CEO of the 1,000-hospital Banfield network in January 2017.
“Our concept serves the comprehensive needs of pets and has been thoughtfully designed from the ground up, including a tailored space, novel care model and carefully curated experience across physical and digital touchpoints,” Bradley said.
The clinics will provide veterinary care, grooming, day care, boarding and pet products, a Heart + Paw spokesman said. The first clinic is expected to open in early 2019.
Reeve Waud, managing partner of Waud Capital, said the firm is committed to “identifying and partnering with leading executives in targeted markets to pursue transformational growth.”
“We’re excited by the opportunity to approach this industry in an innovative way and believe we can build an industry-transforming business under Vincent Bradley’s leadership,” Waud said.
Heart + Paw’s chief operating officer is Teresa Fox, a former regional vice president at Banfield. The chief veterinary officer is George Melillo, VMD, Banfield’s former vice president of veterinary quality.
The company is headquartered in Berwyn, Pennsylvania.
Serving as a founding board member is Tom Bohn, CAE, the CEO of the North American Veterinary Community, which publishes Today’s Veterinary Business.