4 ms·
* FTC acts against private equity firm's acquisition of veterinary clinics[0] * Private equity is buying everything from vet offices to tech conglomerates [1]
by mynameisash 3y ago
* FTC acts against private equity firm's acquisition of veterinary clinics[0]
* Private equity is buying everything from vet offices to tech conglomerates [1]
I'm not opposed to people making money and having a comfortable life, but the fact that private equity is capitalizing on vet clinics is telling.
[0] https://news.ycombinator.com/item?id=31728350 https://news.ycombinator.com/item?id=31728350
[1] https://news.ycombinator.com/item?id=36313967 https://news.ycombinator.com/item?id=36313967
- jncfhnb 3y agoPrivate equity companies frequently purchase struggling businesses, not prosperous ones
- deleted 3y ago[deleted]
- lotsofpulp 3y agoMaybe, a local monopoly could be a cause for concern. But is the barrier to start a veterinary practice so high as to grant them a permanent monopoly? In this specific case being discussed, it does seem the vet business was acquired by a PE company a few years ago: https://www.mainebiz.biz/article/portland-animal-health-startup-acquires-scarborough-veterinary-hospital https://www.mainebiz.biz/article/portland-animal-health-star... Note that the vet doctors themselves may have ownership in the company itself. The other option is that advanced surgeries for animals are so costly, and the proportion of people who have the ability to pay so low, that there does not exist sufficient demand for a new vet to want to open a new hospital. In short, pet owners simply cannot afford all the pet healthcare they want.