Pets are living longer, driving demand for veterinary care services and attracting private equity investors such as Warburg Pincus, Great Point Partners, and Axcel. Seven investments in veterinary care have closed in the last six months. Great Point-backed Vetn Care acquired Holistic Veterinary Care in Oakland, its sixth acquisition since 2022. Meanwhile, Warburg Pincus-backed Bond Vet merged with Small Door Veterinary, creating a combined organization managing over 55 clinics across major markets with more than 1,000 team members including 170+ veterinarians. Zoetis also agreed to acquire Vital Rads from Thrive Pet Healthcare.

In healthcare staffing, Knox Lane closed a $437 million all-cash acquisition of Cross Country Healthcare, a Boca Raton, Florida-based provider of medical workforce staffing and predictive AI technology. Knox Lane portfolio company All Star Healthcare Solutions acquired Cross Country's locums division. Investors are targeting high-margin clinical specialties like behavioral health and radiology, along with cloud and AI-based workforce planning technologies, which carry less regulatory and reimbursement risk than provider organizations.