LatamVet eyes 50 clinic acquisitions in Peru and Colombia

Chilean veterinary clinic operator LatamVet has grown revenue by more than 20% over the past year, reaching approximately $5 million (€4.4M) across its network of 6 clinics.

With all units increasing sales by double digits, Chief Operating Officer (COO) Diego Silva tells GlobalPETS that earnings before interest, taxes, depreciation and amortization (EBITDA) have also risen roughly 20% across the portfolio, pointing to improved profitability as the company expands. 

He attributes the “above-market growth” to a combination of operational improvements, including significant investment in veterinarian training, customer experience, CRM systems and business management, allowing clinics to improve productivity and retain staff. 

Silva launched LatamVet in 2024 with the aim of building a network of veterinary clinics while allowing veterinarians to retain their independence and clinical autonomy.

Expansion plans 

The company aims to expand its network to 10 clinics in the country by the end of the year. With the support of a pool of investors, it plans to invest $27.5 million (€24.1M) over the next 5 years in acquiring 50 more units, expanding its reach to Colombia and Peru.

LatamVet sees strong growth potential in Latin America, fueled by rising pet ownership and the continued humanization of pets, which is boosting demand for veterinary care.

Additionally, these are “similar countries, with similar cultures and ideals,” Silva says. “We have been there several times in conversations with different hospitals, and they are very interested in our business model.”

Innovations

Beyond physical expansion, the company is also preparing to operate under a new model. 

“We want to expand from joint investors to working with our current partners in creating new locations, trying to cover veterinary specialties that are not covered yet. So, this is our short and mid-term goals,” the Co-Founder states. 

To expand its specialist services, LatamVet aims to import technologies that are not widely available in Chile from the US, Spain and England, especially high-quality equipment related to specialties such as dentistry, cardiology and other specific areas, as well as management technology and veterinary software. 

Software development

According to Silva, one of the biggest obstacles to developing veterinary projects in the country is the inaccessibility of good data management software, whether due to availability or the high cost of importing software from abroad.

“We have been spending a lot of time and a lot of money in applying our customer data in order to implement a Customer Relationship Management (CRM), implement a proper digital marketing campaign and try to add value in all the different stages of our customer experience. We are also trying to generate our own vet software,” he adds.

Consolidation method

The company operates through a joint venture model: it acquires stakes in veterinary clinics and assumes management of the businesses, while the veterinarians focus on patient care. It then begins to professionalize the operational and technological systems of these facilities, as well as improving the customer journey.

The business model was inspired by Mission Veterinary Partners, a US-based network of general practice animal hospitals with over 800 locations.

It also aims to offer training for professionals and the possibility of working in other clinics within its portfolio to provide greater job security and reduce employee turnover. “We can offer a clear career path within the chain and help them to improve their veterinary and leadership skills, focusing on diminishing burnout,” Silva states. 

In April, the company entered into a partnership with the Colegio Médico Veterinario (Colmevet) to promote chat sessions, seminars and design workshops and to submit its units to Colmevet’s quality certification. 

For Silva, all the investment in technology, education and systematization has the goal of improving outcomes for pets. “We are trying to generate a group of hospitals that lead the veterinary industry to new standards. So, the benefit is financial and operational, definitely, but also for the pet parents, the pets and the veterinary industry as a whole,” he concludes.