Inspire Veterinary Partners Signs Exclusive Non-Binding Letter of Intent to Acquire Central Florida Based Animal Hospital

Associated Press

17-03-2025

Proposed acquisition could potentially add approximately $1.8 million (unaudited) revenue, increase Inspire's current locations in Florida to 5, and bring the total number of animal hospitals in its network to 14.
VIRGINIA BEACH, VA / ACCESS Newswire / March 17, 2025 / Inspire Veterinary Partners, Inc. (Nasdaq:IVP) ('Inspire' or the 'Company'), an owner and provider of pet health care services throughout the U.S., today announced it has entered into an exclusive, non-binding letter of intent to acquire 100% ownership interest in one animal hospital located in central Florida. If completed, the acquisition could potentially add approximately $1.8 million in (unaudited) revenue. The multi-doctor general practice location offers a full range of services for companion animals, including surgical procedures, dental care and wellness care.
Kimball Carr, President & Chief Executive Officer of Inspire, commented, 'We are excited to announce this possible transaction, which could mark an important milestone in our growth strategy. The Florida veterinary market has been growing rapidly, and the outlook remains healthy. With our four animal hospitals currently serving pets and their owners in the Florida market, we look forward to the potential opportunity of adding a successful and profitable fifth hospital to our network and further leveraging the management and operational efficiencies associated with our growing network of hospitals.'
Carr continued, 'The recent addition of our new director of business development is revitalizing our pipeline of opportunities to accelerate our growth through strategic acquisitions and partnerships. We are excited about both the number and quality of potential animal hospitals interested in exploring the opportunity to join the Inspire family and we look forward consummating additional potential acquisitions as we move through 2025.'
Acquisition Overview
Inspire has signed a LOI to acquire 100% of one animal hospital, located in central Florida.
This strategic acquisition, if consummated, would potentially expand Inspire's revenues from its Florida locations and align with Inspire's mission to expand its network in the state of Florida.
The transaction is expected to close in Q2 2025, subject to due diligence and a definitive agreement.
Transaction Details and Vision
The LOI outlines the preliminary terms of the acquisition and reflects the mutual interest of both parties in finalizing the transaction in the coming months. Inspire and the acquiree will continue their ongoing due diligence to assess the deal's operational, financial, and strategic aspects before executing a definitive agreement.
The parties have agreed to act in good faith to negotiate definitive agreement and complete due diligence. Accordingly, there can be no assurance that a definitive agreement will be entered into or that the proposed transaction will be consummated. Readers are cautioned that those portions of the LOI that describe the proposed transaction are non-binding. Inspire only intends to announce additional details regarding the proposed transaction if and when a definitive agreement is executed.
About Inspire Veterinary Partners, Inc.
Inspire Veterinary Partners is an owner/operator of veterinary hospitals in the US. As the Company expands, it expects to acquire additional veterinary hospitals, including general practice, mixed animal facilities, and critical and emergency care.
For more information, please visit: www.inspirevet.com.
Forward-Looking Statements
This press release contains forward-looking statements regarding the Company's current expectations. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Factors that could cause actual results to differ include, but are not limited to, risks and uncertainties related to the satisfaction of customary closing conditions related to anticipated acquisitions, or factors that result in changes to the Company's anticipated results of operations related to acquisitions. These and other risks and uncertainties are described more fully in the section captioned 'Risk Factors' in the Company's public filings made with the Securities and Exchange Commission, including its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Forward-looking statements contained in this announcement are made as of this date, and the Company undertakes no duty to update such information except as required under applicable law.
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