Elizabeth Warren Targets Private Equity

plus: Banksy's new animal installation

August 11, 2024

Hello 👋 

Welcome back to another edition of Weekend Rounds! It’s a big week, and not just because Banksy has started gracing the streets of London with a series of animal silhouettes. The new artwork had many speculating online as to what the meaning could be including a statement on the climate crisis, far-right protests in England, or the war between Israel and Hamas. We were certain that Banksy was making a much needed statement on how important veterinarians are for the care of all species in a One Health ecosystem… but as it turns out, apparently Banksy just wanted to cheer everyone up during a hard time. Animals have a way of doing that, don’t they?

We’ve included a few of the images below in hopes of cheering you up.

Here’s what else we’re covering:

🎯 Elizabeth Warren set her sights on private equity
👍️ Some good news for you
🎨 Banksy’s Animals
🚀 Quick hits

🎯 
Elizabeth Warren targets private equity

As reported by Rolling Stone, and confirmed by Senator Warren on X, the U.S. Senator for Massachusetts is setting her sights on the veterinary private equity situation - specifically JAB Holding Company.

JAB Holding Company is a German-owned private equity firm that has acquired so many specialty and emergency veterinary hospitals in recent years, that the FTC has already ordered them to divest their interests twice. In addition to investments in consumer brands like Keurig Dr. Pepper, Krispy Kreme, Panera Bread, and Pret a Manger, JAB also owns the clinic groups National Veterinary Associates (NVA) and Ethos Veterinary Health. Recently, they’ve also gotten involved in the pet insurance market with stakes in Independence Pet Holdings and Pinnacle Pet Group.

So if the FTC is already on top of them, what can Senator Warren do? It’s a little unclear what her objectives are at this stage but her tactic has been joining forces with Senator Richard Blumenthal of Connecticut to send send a letter to the firm requesting extensive details. According to the Rolling Stone article, the letter requests JAB to “detail all of the veterinary practices that JAB has acquired in the U.S. since 2019; the revenue and profits at those clinics; the average rates that these clinics charge for checkups, spay and neutering, and other common health issues, procedures, and treatments; and the number of veterinarians and veterinary technicians employed at their clinics, as well as their average salaries.”

If you work at a JAB-owned clinic or insurance provider, we’re curious what the water cooler talk has been.

👍️ 
Some good news

New York State is investing $19.5 million in capital funding to The New York State Veterinary Diagnostic Laboratory at Cornell University. The funding will be used to add 26,000 sq. ft. to the existing space and help manage its increasing caseload. DVM360 has the story.

Dr. Diego Diel, DVM, MS, PhD (right), director of the Virology Laboratory, leads a tour for attendees before the event. Image courtesy of Cornell University.

The AVMA Community has raised $67,000 to support the American Veterinary Medical Foundation’s (AVMF) four pillars - charitable care, disaster relief, scholarships, and research.

A new campaign in Australia by Sophie’s Legacy, aims to raise awareness for high veterinary suicide rates. Sophie’s Legacy formed and named in memory of Dr. Sophie Putland, a veterinarian who took her own life in 2021. The campaign will feature artwork resembling a lost cat poster, with a photo of Dr. Putland in busy public areas with the call to action: respect your vet staff. If you’d like to print one out, you can do so for free from their website.

The Atlantic Veterinary College (AVC) at the University of Prince Edward Island in the Canadian Maritimes held their first Indigenous vet camp for 40 Indigenous junior and high school students in the Mi’kma’ki territory of Nova Scotia. Campers participated in equine physical examinations, surgical gowning and gloving, small animal hospital rounds, and wildlife conservation sessions. The pilot program will help inform the design of the Indigenous Vet Camp which is set to launch next summer and will be open to Indigenous students across Canada.

Indigenous Campers enjoyed an exclusive week at Vet Camp. Image courtesy of UPEI.

🎨 
Banksy’s Animals

If Banksy’s intention was to brighten your day, then who are we to keep these images from our amazing readers?

🚀 
Quick Hits

Here are some of the other stories that caught our eye and we're following this week from around the veterinary world and animal kingdom:

BVA gives a thumbs up to non-traditional diets

The latest statement says that the BVA “does not attempt to determine the ‘best’ diet for individual pets but rather focuses on supporting pet owners to ensure they are meeting their pets’ nutritional needs as well as meeting their own lifestyle choices.”

FDA approves first generic drug for hyperthyroidism in cats

The Food and Drug Administration (FDA) has recently approved several animal drugs, including those that treat hyperthyroidism in cats and urinary incontinence in dogs.

Introducing the DEIW Summit

The veterinary profession’s first-ever Diversity, Equity, Inclusion and Wellbeing (DEIW) Summit will bring together 350 colleagues for an immersive experience of shared learning and growth that promises to engage, educate, and inspire.

More Nova Scotia Seats at Atlantic Veterinary College

The Province is funding more seats for Nova Scotians who want to study to become a veterinarian at AVC.

A new approach to veterinary medicine aims to change specialized care for large, rural animals

The governing act for veterinary medicine in the province is changing as part of a shift that many people in animal care say has been a long time coming

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