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Covetrus

“Can a veterinary distributor become the operating and financial platform for independent and corporate vet practices?”

Founded2019
HQPortland, Maine, USA
Latest roundAcquired by CD&R and TPG, 2022
Valuation~$4B enterprise value (2022 take-private)
IndustryVertical SaaS / Veterinary
Websitecovetrus.com ↗
The story

Covetrus was formed in 2019 by merging Henry Schein's Animal Health business with Vets First Choice, combining veterinary distribution with a prescription-management / online-pharmacy technology platform. After a struggling public run, it was taken private by CD&R and TPG in 2022 at ~$4B. Under private ownership it has pushed harder on vertical SaaS (Pulse practice management, vRxPro online pharmacy, Comms client engagement) and layered embedded finance on top — Covetrus Payments (Stripe), Stripe Capital for merchants, and CareCredit for pet-parent patient financing.

Last 12 months
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Product timeline
0
Launched Covetrus Payments powered by Stripe — embedded card acceptance for veterinary practices· banking
0
Partnered with Stripe Capital to offer working-capital financing to Covetrus Payments merchants· lending
0
Partnered with CareCredit for embedded patient (pet-owner) financing at point of care· lending
2019
Covetrus formed via merger of Henry Schein Animal Health and Vets First Choice; listed on NASDAQ (CVET)· pivot
2022
Taken private by Clayton, Dubilier & Rice and TPG at ~$4B enterprise value ($21/share)· acquisition
Regulated entities
1
regulatory licence held by Covetrus
Licence types, jurisdictions and registered entities are not published on this page. Get the monthly recap for new licences and charter moves as they happen.
Same company
Covetrus was analysed under more than one name on the same domain, so its stack is split across these dossiers. Each was analysed independently and may name providers the others do not.
Covetrus AVImark2 layers →Covetrus ImproMed2 layers →Covetrus Pulse2 layers →
The stack
3 layers disclosed in Covetrus’s embedded-finance stack
Payments / PSP
Stripe
Lending
Stripe Capital, CareCredit
Accounting
QuickBooks
Payments / PSP
Hover or tap a floor for details.
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Accounting gap: significant

Covetrus — frequently asked

Who is Covetrus's payment processor?

Covetrus processes payments through Stripe.

Who provides Covetrus's lending?

Covetrus's lending and capital products are provided by Stripe Capital and CareCredit.

Which accounting software does Covetrus integrate with?

Covetrus integrates with QuickBooks.

What is Covetrus's embedded finance stack?

The Embedded Finance Index 2026 maps 3 layers in Covetrus's stack: Payments / PSP (Stripe); Lending (Stripe Capital, CareCredit, Stripe Capital financing for Covetrus Payments merchants, CareCredit patient (pet-owner) financing integration and 2 others); Accounting (QuickBooks).

Where is Covetrus headquartered?

Covetrus is founded in 2019 and headquartered in Portland, Maine, USA.

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