PORTLAND, Maine--(BUSINESS WIRE)--Vets First Choice, the nation’s leading online veterinary partner-pharmacy and marketing service provider, announced today that it closed a $6.5 million financing led by new investor HLM Venture Partners. Also participating were existing investors including Polaris Partners, Borealis Ventures, Harbor Light Capital, and Black Point Group.
The company also announced that it has registered more than a half-million pet owner subscribers via veterinary practices across the country for scheduled home delivery of important medications, diets and other products.
“We’re very pleased to have added over a half-million subscribers in just 3 years, and I look forward to seeing continued, robust growth,” said Vets First Choice CEO Benjamin Shaw. “We are confident that we provide the best available pharmacy service in the market today for our veterinary healthcare team partners and their pet owner clients. With the addition of HLM Venture Partners to our strong syndicate, and our new resources, we are extremely well positioned.”
“Vets First Choice offers a fantastic service for pet owners and veterinarians,” said Yumin Choi, Vice President at HLM Venture Partners. “We expect that Vets First Choice will continue to build on its impressive leadership position in this rapidly growing market and will be a source of innovation and consolidation for the veterinary pharmacy services,” added Choi.
Vets First Choice has secured pharmacy licensing in all 50 states and accreditation by Vet-VIPPS, and offers more than 5,000 medications and diets as an authorized distributor to veterinary drug and diet manufacturers.
About Vets First Choice
Vets First Choicesm, a
privately-held company headquartered in Portland Maine, is a national
home delivery provider of FDA- and EPA-approved pharmaceuticals,
therapeutic diets and compounded medications to pet owners on behalf of
veterinary clinics. Our comprehensive suite of services helps veterinary
practices improve medical compliance for core products and services,
reduce inventory costs, enhance customer services, and promote the
Veterinarian-Client-Patient Relationship. Vets First Choice is partnered
with more than 6,000 veterinary hospitals to provide a simple, safe, and
cost effective method to meet pet owner expectations for convenience,
service and competitive prices. Our pharmacy complies with the licensing
and inspection requirements of all 50 states and Vet-VIPPS. For more
information, please visit www.vetsfirstchoice.com.
About HLM Venture Partners
HLM Venture Partners is a leading
venture capital firm providing capital to emerging companies focused on
health care service, health care information technology and medical
devices. HLM has over $400 million of venture capital under management
and works with the leading growth companies that are improving the
quality of health care while reducing overall costs. HLM supports
entrepreneurs as they turn innovative ideas into market-leading
businesses, offering guidance on financial structuring, resource
allocation and deployment, strategic planning, strategic introductions,
and recruitment. HLM has offices in Boston, Mass, and San Francisco, CA.
(www.hlmventurepartners.com).
About Polaris Partners
Polaris Partners invests in and helps
build successful Technology, Healthcare and Consumer companies. The firm
has $3.5 billion under management and makes investments across all
company lifecycle stages. Polaris Partners operates from offices in
Boston, San Francisco, and Dublin, Ireland. www.polarispartners.com.
© 2013 Vets First Choice. All rights reserved. Proprietary & Confidential
