Fountain Report Excerpts Apr 30, 2024

Fountain Report Excerpts
  1. Chewy opened its first Chewy Vet Care location in South Florida on April 15. This is the first of multiple locations planned to open across the United States, with subsequent launches slated soon for Denver and Atlanta, according to the announcement. The new practices will feature separate waiting rooms and exam rooms that aim to minimize pet anxiety. Clients will also have access to an online portal where they can retrieve their pet’s health information.
  1. Insurance provider Chubb announced a definitive agreement to acquire Healthy Paws, a pet insurance provider, from Aon plc. Chubb since 2013 has been the exclusive underwriter of Healthy Paws’ pet insurance program.
  1. According to the Bureau of Labor Statistics, the price of urban veterinarian services rose by 7.9% from February 2023 to February 2024. Dr. David Lee, an associate dean and professor at Cornell University’s College of Veterinary Medicine, listed several reasons for the rising costs of veterinary care, such as a shortage of veterinarians and a chronic dearth of technicians. Increased demand from a surge of pandemic-era pet adoptions and a subsequent tight labor market have pushed up labor costs, which Lee said can make up 60% of a practice’s expenses.

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