Category Archives: News
Innovetive Petcare, Inc., is pleased to announce that Dr. Mitch Rosenzweig has joined its management team as Vice President of Veterinary Operations, bringing his years of proven experience and invaluable expertise as a veterinary practitioner and clinic owner. Dr. Rosenzweig is a highly respected veterinarian and entrepreneur who has successfully founded and run both general practice and emergency/specialty clinics. Most recently, he was the founder and owner of Animal Emergency & Specialty Center, which was acquired by Innovetive Petcare. On joining Innovetive Petcare Dr. Rosenzweig noted, “I am pleased to join the Innovetive Petcare team. Having owned and run multiple practices, I understand firsthand the challenges veterinarians face. We share a vision of helping improve the lives of veterinarians and their staff by providing best-in-class tools and resources typically not available to the owner of a single practice.” Dr. Rosenzweig will continue practicing medicine at AESC, which he founded in 1991; Innovetive Petcare will provide AESC a range of growth management and operational support services. The leading specialty/emergency hospital in the Knoxville area, AESC is a referral-based practice focusing on surgical procedures, oncology, ophthalmology, exotic, internal medicine, critical care and emergency services for small companion animals. In addition to his expertise in veterinary medicine, Dr. Rosenzweig has 10 years of experience working with a human medical/device sales company in product development, training and sales. In the late 1990s, Dr. Rosenzweig channeled his combined considerable education, training and observational experience into a series of three veterinary clinics in Knoxville, including an after hours pet emergency center. From 2006 to 2009 Dr. Rosenzweig performed a surgical residence under the supervision of Tommy Walker, ACVS and Ray Rudd, DACVS. In 2009, he sold two of the clinics in order to focus on the Animal Emergency and Specialty Center (AESC). Additionally, Dr. Rosenzweig served as the associate dean of clinical development and assisted in the formation and preliminary accreditation of Lincoln Memorial University College of Veterinary & Comparative Medicine.
Innovetive Petcare, Inc., announced today the acquisition of Knoxville, Tennessee based, specialty veterinary hospital Animal Emergency Specialty Center (AESC). AESC becomes the first subsidiary of Innovetive Petcare, Inc., a veterinary hospital operator led by animal health industry executives Mark Ziller, CEO and Paul Covill, Vice President. AESC is the leading specialty/emergency hospital in the Knoxville area. This referral-based practice focuses on surgical procedures, oncology, and emergency services for small companion animals. Innovetive Petcare will provide AESC a range of growth management and operational support services. “AESC is a successful and growing specialty veterinary surgical center with an excellent team,” said Mr. Ziller. “It’s is a great model for other clinics. Working together, Innovetive Petcare and AESC will provide those in the Knoxville area with the very best in pet care.” Through private equity partner Prospect Partners LLC, Innovetive Petcare possesses the resources and capital necessary to successfully acquire and invest in clinics, provide effective operational support, and develop a superior hospital network that implements best practices in management and animal care. Mr. Ziller added, “Innovetive Petcare’s mission is to run a great business so veterinarians and their staff can focus on practicing medicine. We will provide a suite of best-of-breed business services to support and grow the clinic, while allowing the owners to reduce business risk through financial diversification, liquidity, and, when they are ready, an exit strategy.” Currently, Innovetive Petcare seeks to acquire other profitable general practice and specialty/emergency veterinary clinics.
Prospect Partners, LLC, a leading private equity firm, today announced that it has funded Innovetive Petcare, Inc., a new veterinary hospital operator led by animal health industry executives Mark Ziller, President and CEO, and Paul Covill, Executive Vice President. Seasoned veterinary executives, Mr. Ziller and Mr. Covill have worked closely together for more than 15 years. Mr. Ziller’s multiple startups include two veterinary companies. TW Medical Veterinary Supply, a full-line distributor of veterinary pharmaceuticals, surgical supplies and equipment was ultimately purchased by the $1.5 billion animal health distribution business Lextron/Animal Health International. Maneesh Chawla, a Principal of Prospect Partners, noted “Mark and Paul are talented, proven managers with a deep understanding of the animal health industry and veterinary hospital operations. They are absolutely committed, as is Prospect Partners, to investing in and building each animal practice and tocreating a highly successful hospital network.” Mr. Ziller added, “Innovetive Petcare’s mission is to run a great business so veterinarians and their staff can focus on practicing great medicine. We will provide a suite of best-of-breed business services to support and grow the clinic, while allowing the owners to reduce business risk through financial diversification, liquidity, and, when they are ready, an exit strategy. Through Prospect Partners, we have access to the resources and capital we need to successfully acquire and invest in clinics, provide effective operational support, and develop a superior hospital network that implements best practices in management and animal care.” Innovetive Petcare becomes the 10th platform company in Prospect Partners’ $200 million third fund, Prospect Partners III, L.P. Since 1998, Prospect Partners has built 46 unique platforms through the acquisitions of more than 115 businesses. About Prospect Partners, LLC Prospect Partners is a leading private equity firm investing in smaller lower-middle-market companies, managing $470 million across three funds. A highly experienced and active investor, Prospect Partners focuses exclusively on management-led leveraged recapitalizations and acquisitions of niche market leaders with revenues typically under $75 million. Since 1998, Prospect Partners has invested opportunistically nationwide in more than 115 companies in widely diverse niche manufacturing, distribution, and specialty service markets. Based in Chicago, the company also has an office in Menlo Park, Calif. More information is available at http://www.prospect-partners.com.