Business
PetMeds® Announces Exclusive Partnership with Vetster for Pet Telemedicine
New agreement with the fastest-growing veterinary telehealth and pet-care marketplace provides 24/7 access to over 70,000 veterinarians for PetMeds®’ millions
About this update from Petmed Express, Inc.
[{"type":"text","content":"New agreement with the fastest-growing veterinary telehealth and pet-care marketplace provides 24/7 access to over 70,000 veterinarians for PetMeds®’ millions of pet parents. \nDELRAY BEACH, Fla., April 19, 2022 (GLOBE NEWSWIRE) -- PetMed Express, Inc. (NASDAQ: PETS), Your Trusted Pet Health Expert, today announced an exclusive partnership and investment with Vetster Inc., a leading veterinary telemedicine and pet-care marketplace. The deal unlocks access to virtual, around-the-clock pet healthcare for PetMeds®’ 2 million-plus pet parents as well as integrated fulfillment of pet medications for veterinarians and vet clinics. The move further positions PetMeds as the premier source for pet health online. Through the agreement — the first of its kind to enable pet telemedicine on a mass scale — PetMeds becomes the exclusive e-commerce provider of pet medications for Vetster, and Vetster becomes the exclusive provider of telehealth and telemedicine services to PetMeds customers. Under the partnership, customers of PetMeds will be able to seamlessly utilize Vetster’s technology to connect with a veterinarian from home or while traveling, and PetMeds will continue to provide fast and accurate delivery of prescriptions and over-the-counter pet medications. “PetMeds pioneered the online pet medication business over 26 years ago, and this partnership with Vetster is an important step in establishing PetMeds’ expanded strategy as the go-to expert in pet health,” said Matt Hulett, CEO and President of PetMed Express. “Simply put, we love Vetster’s business model, their team, and their technology, and we are excited for PetMeds’ customers to benefit from Vetster’s amazing telehealth and telemedicine services, available at their fingertips 24/7. We are looking forward to a partnership that improves the lives of pets and pet parents for years to come.” The agreement between the two companies comes as Vetster completes its Series B round of funding, to which PetMeds has committed a minority investment. PetMeds has the opportunity to receive additional shares through the exercise of warrants for an increased equity stake in Vetster, with such warrants being tied to future performance milestones. “We’re very excited about the partnership and investment from PetMeds, which we believe truly represents a win-win for pet parents and their beloved p...