VetCentric Raises $3 Million in Series B Funding

Company to Focus on Raising Industry Compliance and Growth

Oct 26, 2010, 14:13 ET from VetCentric, Inc.

GLEN BURNIE, Md., Oct. 26 /PRNewswire/ -- VetCentric, Inc., the leader in vet-sponsored home delivery of FDA and EPA-approved medications for pets, today announced the company has raised $3 million during its continued round of Series B funding.  The additional capital allows VetCentric to further develop its market-leading home delivery solution and accelerate growth in the vet-sponsored home delivery market.

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Sherbrooke Capital, the Asset Management Company and the Nestle Venture Capital Fund, part of Nestle S.A., supported the investment equally.

"This investment is a great vote of confidence in the VetCentric home delivery platform and our management team, and positions us to further build upon our recent growth," said Ted Root, President and CEO, VetCentric. "We have delivered over 2.5 million orders on behalf of veterinarians over the last ten years and worked with more than 6,000 clinics in recent months. The VetCentric solution has increased clinic revenue and profitability, while significantly raising the level of medical compliance for partner practices," added Root.

The VetCentric solution enables veterinarians to offer the convenience of home delivery to their clients.  Each practice controls product selection and pricing, making home delivery a true extension of their in-house pharmacy.  VetCentric is the industry's only Vet-VIPPS (Verified Internet Pharmacy Practice Site) certified pharmacy that also provides a 100% manufacturer guarantee on all of the medications and products sent to pet owners.

"Our investment in VetCentric and support through the Series B round proves the strong belief we have in the company's direction and success," said John Giannuzzi, Managing Director at Sherbrooke Capital. "We consider the VetCentric executive management team the most experienced and reputable in the market today and remain bullish in their unique ability to position the company towards a sustained period of growth."

About VetCentric

VetCentric, Inc., a privately-held company headquartered in the Baltimore-Washington area, is the only national veterinary-focused pharmacy offering home delivery of FDA- and EPA-approved pharmaceuticals, compounded medications, and therapeutic and wellness diets to pet owners on behalf of veterinary clinics.  Its comprehensive suite of services help clinics improve clinic financial performance, provide a trusted alternative to Internet competition, expand treatment options without inventory cost, improve patient health and increase compliance, enhance customer service, and advocate the Veterinarian-Client-Patient Relationship.

In the past 10 years, VetCentric has partnered with thousands of veterinary clinics to fill in excess of 2.5 million prescriptions for nearly 500,000 pet owners.  Its pharmacy complies with the licensing and inspection requirements of all states in which it does business. For more information, please visit www.vetcentric.com.

SOURCE VetCentric, Inc.



RELATED LINKS

http://www.vetcentric.com