Veterinary Practices NAICS 541940

Aug 25, 2025 - Vet Clinics Sold to Investment Fund

• Following a trend of consolidation in the industry, WGRZ reports that two Buffalo, New York-based veterinary clinics were recently sold to an investment fund. Ontario-based real estate fund Dorian Capital purchased Kenmore Animal Hospital and Buffalo City Vet in a combined $2.25 million deal. The vet practices will operate under the same leadership. According to Dorian’s website, the firm operates a geographically diversified portfolio of veterinary real estate across the US.
• Consumer prices for veterinary services increased by 6.4% in July 2025 compared to a year ago and were flat compared to the previous month, according to the Consumer Price Index data from the US Bureau of Labor Statistics (BLS). Employment by veterinary practices fell 1.1% in June 2025 compared to a year ago, reflecting a more recent industry slowdown, per the BLS. In the past decade, employment by veterinary services rose 33.2%, faster than the 13.2% growth in overall private employment, reflecting the growth in pet ownership during the period. Average wages for nonsupervisory employees at veterinary practices increased 6.7% in June 2025, reaching $30.31 per hour.

• Indicators measuring the collective mood of US consumers show mixed signals, with consumer confidence levels slightly up and consumer sentiment falling. Consumer confidence levels, an indicator of discretionary expenditures, improved in July 2025, month over month, rising by 2 points, according to the Consumer Confidence Index. Consumer confidence levels have stabilized since May but remain lower than last year’s, according to The Conference Board, which publishes the monthly index. July’s gain can be attributed to consumers over 35 years old and shared across all income groups, except the lowest income group earning below $15K. In addition, the consumer sentiment index from the University of Michigan dropped in August 2025 for the first time in four months. The index fell to 58.6 in preliminary August data from 61.7 in July. Year-ahead inflation expectation results were higher monthly, as consumers convey lingering anxiety about prices amid tariff impacts. The index serves as a predictor of consumer spending as it indicates consumers’ perception of their financial prospects and the broader economy.
• New data from Trupanion reported in Veterinary Practice News shows that anxiety-related health claims among cats and dogs have increased 93% nationally from 2019 to 2025. The growth in claims may not only reflect a rise in cases, but also greater awareness and access to care. Certain breeds tend to have more anxiety issues including Australian cattle dogs, terriers, Portuguese water dogs, Shetland sheepdogs, and American pit bull terriers. Cat breeds with higher anxiety claims include Siamese, Bengal, and Siberian cat breeds. Signs in pets of anxiety may include behavioral changes, excessive grooming or vocalization, and elimination outside the litter box, as well as clinginess and hyperexcitability. Trupanion findings come from an analysis of claims data from more than two million insured pets.