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...Private equity groups Advent International and CVC Capital have teamed up to bid for a pet food company owned by Cinven, leaving a single bidding consortium left seeking to buy an asset the UK buyout group...
...Lemonade, whose shares have fallen more than 70 per cent since its first day of trading in New York in 2020, provides a range of insurance including for homes, pets and cars to customers in the US and Europe...
...Its latest fund, $4.3bn, is almost exclusively invested in the pet insurance sector....
...pressure faced overall by pet owners was veterinary bills....
...Almost 60 per cent of veterinary practices are owned by large companies, up from 10 per cent in 2013, the CMA said....
...UK petcare and veterinary service provider Pets at Home reported a 4.3 per cent increase in revenue in the third quarter but lowered profit guidance due to slower than expected retail demand....
...Last March Mars said it would scale back its business in Russia to focus on its “essential role in feeding the Russian people and pets”....
...Pet medical insurance is booming, mainly for cats and dogs but also turtles, tortoises and birds — although not yet for hedgehogs....
...Spending on pet food, supplies, veterinary care and other services totalled $136.8bn last year, up 41 per cent since 2019, according to the American Pet Products Association....
...Brits may be even more obsessed: the veterinary charity PDSA estimates the UK’s pet dog population at 11mn, with owners spending an average of £1,500 per year on vet bills, kibble, grooming and insurance...
...“The biggest barrier is insurance companies,” said Lawrence Honig, a neurologist at New York’s Columbia University Irving Medical Center....
...The UK targets private equity’s bets on pets Over the past decade, private equity firms have spent billions of dollars buying up veterinary clinics on both sides of the Atlantic....
...the company in as many years....
...Sweden’s EQT has borrowed the name for its bid company buying veterinary drugmaker Dechra for £4.9bn, including debt....
...Parkin said, for example, that the 140 Mars factories and thousands of veterinary clinics around the world make up only 4 per cent of the company’s emissions....
...Drone companies cite possible uses in defence, safety, transport, insurance and retail. But healthcare may be the way to win regulatory hearts and minds....
...The UK’s Competition and Markets Authority is taking aim at the private equity-dominated veterinary market....
...Veterinary pharmaceuticals company Dechra has agreed a £4.5bn buyout by Sweden’s EQT, in what would be one of the biggest UK private equity deals this year....
...Couples who live in US states that allow workers to claim unemployment insurance when they move for a spouse’s job are 40 per cent more likely to move....
...Last year, more prams were sold in South Korea for pets than for babies....
...Analysts at Peel Hunt said the group’s “strong momentum” led to the upgrade to forecasts, noting the higher demand for veterinary care and the company’s net cash position....
...A determinedly pugnacious union achieved the first health insurance benefits in the USA for same-sex couples....
...Mike Martin, the group director at T L Dallas, an independent insurance broker in Bradford with 160 employees, said the firm had been affected by rules that required insurers to establish inside the EU in...
...The company reported £681.8mn of revenue last year and operating profits of £95.5mn....
...Pets at Home has been expanding its veterinary business after a costly restructuring a few years ago. It is making a rising contribution to revenues and profits....
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