Embark Veterinary, Inc. announced this morning that it has raised $75 million in Series B funding, a term often used by bankers to describe the second round. According to the company’s press release, it represents the largest cash injection for a pet industry startup in its second round. TCR has not independently verified that claim. […]
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Busted. Tennessee veterinary hospital nailed by USDOJ for alleged Controlled Substances Act violations
A Tennessee veterinary practice has agreed to pay $70,000 in fines for alleged violations involving the Controlled Substances Act, a U.S. Department of Justice news release says, such as “significant shortages of various controlled substances.” Coming from the Eastern District of Tennessee (Nashville), the investigation of Andes-Straley Veterinary Hospital in Kingsport, Tennessee, including owner Gary […]
High-brow pet insurer launches breakaway, “fluff-free,” low-cost product; first of several launches in Trupanion’s 60-month plan
America’s second-largest pet insurance provider Trupanion, Inc. (Nasdaq: TRUP) has just launched a “time-limited,” low-cost pet insurance brand in Canada, PHI Direct, which will launch in the United States later this year, along with a third insurance product at a medium price point, Furkin. But unless you follow insurance closely or read TCR, you may never know that Trupanion is the parent company.
June 28, 2021 This story has been updated. Petco (NASDAQ: WOOF) is getting into the pet cancer business. For $599 per test, a Petco spokesperson told TCR this week, dog owners can now find out, well, not much. At least, that’s what seems to be the consensus of veterinarians TCR reached for comment. Thirty-one select […]
Freshpet dog food suspected of Salmonella contamination and designated for trash is shipped to retailers instead; FDA announces Freshpet recall
New Jersey-headquartered Freshpet (FRPT: NASDAQ) is recalling Select Small Dog Bite Size Beef & Egg Recipe due to suspected Salmonella contamination, the U.S. Food and Drug Administration announced Sunday. Freshpet, founded in 2006, was one of the earliest pet food companies to market non-traditional pet food diets to consumers. “Freshpet has a single-minded mission,” its […]
For the fourth time in less than 12 months, Alabama-based pet food manufacturer Sunshine Mills, Inc., whose products are sold at big-box retailers such as Walmart, announced a “voluntary” recall of some dog food products because of suspected Salmonella contamination. Sunshine’s troubles with regulators are not new. The FDA’s latest Sunshine recall here: Sunshine Mills, […]
Special Report: As America’s pet insurance industry goes mainstream, do companies insure themselves or you?
Special Report: As America’s pet insurance industry goes mainstream, do companies insure themselves or you? Pet insurance in America is going mainstream. The question is now more a matter of how. Earlier this month, pet insurance companies reported a 27.5% increase in total premium volume in the United States in 2020 over 2019, a […]
Wagmo sold its first pet insurance policy in the United States in 2020. Co-founded by Christie Horvath and Alison Foxworth, the venture capital-backed startup has been able to leap from availability in 13 to 40 states between late 2020 and May 2021, no small feat. Horvath often underscores that the company is co-founded by two […]
The Obama family’s beloved Portuguese water dog, Bo, gifted to them by the late Senator Edward M. Kennedy, died Saturday, May 8 after succumbing to cancer, the Obamas announced.
One product, not surprisingly, dominated the hour: Seresto flea and tick collars. We clocked CEO Simmons at 4 minutes 30 seconds into the earnings presentation when he first said “Seresto”: