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A poster on the wall within That the Portland offices of Vets First Choice show a head-on photograph of an elephant as well as the words: Endangered, but not extinct. Whilst the reference is into the many endangered species of dinosaurs, it may just as easily refer to the veterinarians which Vets First Choice counts amongst its customers, based on Chief executive officer Ben Shaw. Normally, dog owners purchased those meds in their own veterinarians, an agency which supplied anyplace out of 25 percent into 35 percent of a vet's earnings. Helping veterinarians rethink their business model is in which Vets First Choice comes in, said Shaw, a Cape Elizabeth resident.
The 5 year-old company provides outsourced on-line pharmacy solutions to veterinarians, who allows the vet to retain local clients while competing on cost with on-line suppliers. From a pet owner's perspective, the on-line store seems to be worked by their local vet, but it's really Vets First Choice that's filling and sending the orders from its large pharmacy in Omaha, Nebraska, where it uses six pharmacists as well as twice as many pharmacy technicians as well as shares over 6, 000 drugs. Vets First Choice lately announced a brand new $52.3 million investment round led by New York based private equity firm Clayton, Dubilier & Rice.
The first investment rounds enabled Vets First Choice to build its platform out, establish the market potential and begin bring the notice of vet practices through the nation. The new $52.3 million investment, which came out of 33 different investors, will send the company to overdrive, allowing it add more complicated services and products which move the company beyond just filling prescriptions and into regions of prescription management and data analysis to help vets better manage their practices and increase pet health. Sachdev, who until lately led J.P. Morgan's healthcare practice and was engaged in some of the healthcare industry's largest mergers, acquisitions as well as IPOs, Has Been attracted to Vets First Choice as it is a First mover in the vet space. They are bring an on-line model that reduces our costs.