Dog med supplier secures $12M from competitor

VetSource raises money, customer base from MWI Animal Health.

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Portland-based VetSource raises money, customer base from MWI Animal Health, a former competitor.

VetSource is a pet pharmacy that specializes in home delivery.

Founded eight years ago, VetSource is licensed in all 50 states as a pharmacy for pet medications, which it ships all over the country. Among its offerings are an in-hospital tool that integrates with a clinic’s own practice management software, an e-commerce platform and veterinary practice support.

The company will use its most recent raise to fuel its continued growth, which has been on the order of 30 percent a year. VetSource has a tech center in Tulsa, Oklahoma, and distribution facilities in Harrisburg, Pennsylvania, and Dallas.

(SOURCE: Portland Business Journal)

The deal includes $2 million in cash and $10 million in “equity in-kind.”


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