The Vet

Bridges Sustainable Growth Fund III

A low-cost, full-suite veterinary services provider for owners of domestic pets located in underserved communities

  • Theme

    Underserved Markets

  • Date of Initial Investment

    20130201

  • Bridges Executives

    Ian Taylor
    Garret Turley

  • Management Team

    Jane Baldwin - Operations Director
    Steve Wakeman - Financial Director

Challenge: There are many health benefits of owning a domestic pet, ranging from improved cardiovascular health to a reduced risk of asthma and hay fever in children exposed to pet allergens, and a better overall physical and psychological well-being. For the elderly, domestic pets also provide companionship and encourage a sense of responsibility and awareness in caring for another being. Yet veterinary services and pet insurance inflation have far outstripped UK inflation over the past decade, putting such services out of reach of many lower-income pet owners.

Investable Solution: Bridges incubated The Vet with the aim of building a low-cost, full-suite veterinary service for domestic pet owners, primarily to serve regions of the UK where affordability of these services is a significant barrier for consumers. The Vet offers consultations from as little as £14.99, and healthcare plans starting at £4.99 per month, and some services given for free. With no need for appointments, experienced clinical staff and longer opening hours, The Vet helps fill a gap in the market for better, affordable and more flexible veterinary services.

Outcomes: 657% of The Vet’s sites are located in underserved communities. The proportion of customers who had never previously been to a vet has reached average of over 40% over the last three years.

www.thevet.co.uk

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