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Inspire Veterinary Partners confirms plans to accelerate acquisition and growth strategy following closing of recent IPO

Posted on by darion

  • Strategy includes multiple paths for long-term growth in an economically resilient pet health and wellness market

  • The company will leverage enterprise-wide systems and tools that have been enhanced over the past six quarters.

  • New growth phases will focus on existing and new verticals in the pet health sector

VIRGINIA BEACH, VA / ACCESSWIRE / August 6, 2024 / Inspire Veterinary Partners, Inc. (NASDAQ:IVP) (“Inspire” or the “Company”), an owner and provider of pet healthcare services throughout the United States, today announced its commitment to accelerate its acquisition and growth strategy following the earlier announcement of the closing of a $6 million public offering.

“We believe we have the foundation in place to achieve the next phase of our acquisition strategy, and we will do so while driving strong growth and shareholder returns,” said Kimball Carr, president and CEO of Inspire. “We are in the early stages of our growth journey, with a strong base of veterinary hospitals, a proven ability to build lasting client/pet relationships, and significant runway in major existing and new markets. Following our recently completed and successful IPO, I am excited about the opportunity to take our growth strategies to the next level to serve more pets nationwide. At the same time, we will combine financial discipline with a continued focus on revenue growth, gross margin expansion, and strong cash flow to deliver attractive shareholder returns.”

Strengthened balance sheet providing additional financial flexibility to access multiple paths to revenue and profit growth

New and existing strategic initiatives designed to deliver sustainable revenue and profit growth, including:

  • Expansion in 2024 and 2025 through hospital acquisitions and new business integrations, focused on single-entity acquisitions and potential multi-entity integrations;

  • Expanding Inspire’s service offering by expanding national veterinary coverage to provide pet owners with unparalleled access to general and specialist healthcare services;

  • Diversification of revenue streams by improving business categories and structure;

  • Building a differentiated product offering through key supplier relationships; and

  • Scaling personalization capabilities by leveraging the power of a comprehensive pet database and data-driven approach to enhance the pet owner experience and deepen engagement and loyalty.

About Inspire Veterinary Partners, Inc.

Inspire Veterinary Partners is an owner/operator of veterinary hospitals in the U.S. As the company grows, it expects to acquire additional veterinary hospitals, including general, mixed animal facilities, and critical care and emergency units.

For more information, visit: www.inspirevet.com.

Connect with Inspire Veterinary Partners, Inc.

Facebook

https://www.facebook.com/InspireVeterinaryPartners/

LinkedIn

https://www.linkedin.com/company/inspire-veterinary-partners/

Forward-looking statements

This press release contains forward-looking statements regarding the Company’s current expectations. These statements are not guarantees of future results and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Factors that could cause actual results to differ include, but are not limited to, risks and uncertainties related to the satisfaction of customary closing conditions related to the anticipated acquisitions or factors that result in changes in the Company’s anticipated operating results related to the acquisitions. These and other risks and uncertainties are described in more detail in the section entitled “Risk Factors” in the Company’s Registration Statements on Form S-1 filed with the SEC. The forward-looking statements contained in this announcement are made as of this date, and the Company does not undertake any obligation to update such information, except as required by applicable law.

Contact for investors

TraDigital IR
Kevin McGrath
+1-646-418-7002
[email protected]

General Inquiries

Morgan Wood
[email protected]

SOURCE: Inspire Veterinary Partners, Inc.

View original press release on accesswire.com