Trupanion to acquire Czech pet insurance provider PetExpert
The North American company believes this new addition to the portfolio supports its expansion plans in Europe.
In addition to the Czech Republic and Slovakia, where PetExpert has a significant market share, the company is also expected to broaden its footprint in new markets such as Belgium and Poland in the coming months.
“We are excited to bring together our like-minded businesses, allowing us to collectively work to eliminate the financially burdensome reimbursement model in Europe and enable pet owners and veterinarians to focus on quality of care over financial considerations,” said Simon Wheeler, EVP of International at Trupanion.
PetExpert CEO Derek Cummins said that the merger aims to provide the “best veterinary medical care” for pets as both companies share the same entrepreneurial “culture and passion” to help pet parents across the globe.
Expanding the business
PetExpert is the leading online pet insurance market in the Czech Republic, and it recently started its operations in Slovakia and Belgium.
Trupanion, which operates in the United States, Canada, and Australia with over 700,000 pets insured, acquired Swiss pet insurance provider Smart Paws in September 2022 as part of its European expansion strategy.
In the first months of 2022, Trupanion’s revenue reached $659.2 million. This is an increase of 31% against the same period in 2021. Subscription business revenue was $438 million, an increase of 21% compared to the first nine months of 2021
