Portland-based animal hospital investment and management firm Rarebreed Veterinary Partners has purchased a majority ownership stake in Maine Veterinary Medical Center, a large-animal hospital employing 150 veterinary professionals in Scarborough.
Rarebreed announced the investment in a news release Wednesday. Terms of the deal were not disclosed.
“Our entire team is thrilled that the leadership of Maine Veterinary Medical Center believed in Rarebreed and chose our model over other out-of-state bidders offering more money,” Rarebreed founder and CEO Dan Espinal said in a written statement. “This partnership puts Rarebreed on the cutting edge of veterinary medicine and gets us squarely into the specialty business.”
Maine Veterinary’s staff includes 21 specialty doctors, and its 20,000-square-foot facility includes a newly completed intensive care unit expansion and a large collection of advanced veterinary medical equipment, including Maine’s only veterinary MRI and fluoroscopy suite, the release said.
Since it was founded in 2018, Rarebreed has grown to 450 employees and $40 million in annual revenue, according to the release. In February, the company announced it had raised $40 million in two rounds of private equity financing that included investments by Caremi Partners Limited and Northwood Ventures.
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