Covetrus

What Covetrus does

Covetrus is a Portland, Maine-based veterinary practice improvement company founded in 2019 (previously operating as Henry Schein Veterinary Solutions), serving independent and corporate veterinary practices across North America, Europe, and Asia Pacific. The company operates a platform-plus-modules architecture: the Covetrus Platform integrates practice management software (Pulse, AVImark, Impromed and its Equine Triple Crown variant), prescription management (vRxPro with sub-minute script approvals, compounding, and home delivery online pharmacy), client engagement (Comms, CarePlans, Pet Parent Portal), supply chain distribution through 13 US distribution centers carrying 450+ supplier partner brands, and payments powered by Stripe under a 36-month contract. Acquired brands including AppointMaster (November 2021) and Great Pet Care augment the software and consumer content footprint.

Covetrus commercializes through six revenue streams: software subscriptions (Pulse, AVImark, Impromed), supply chain distribution margins on pharmaceuticals and equipment, pharmacy/compounding services, Stripe transaction fees, VetSuite membership subscriptions providing collective purchasing and rebates, and professional services such as financing and equipment build-out. Go-to-market combines enterprise field sales for corporate veterinary groups, inside sales for order processing, a community-led VetSuite network for independents (4,000+ members, $30K average annual savings per member, $60M+ cumulative rebates), and event-driven presence at VMX, WVC, regional VMAs, and equine conferences. AI features are introduced via Covetrus AI workflow capabilities and a SignalPET computer vision integration for dental radiology.

The company announced a $3.5B merger with MWI Animal Health (a Cencora subsidiary) in February 2026 that would consolidate US veterinary product distribution from three players to two, with Cencora receiving $1.25B cash, $800M preferred equity, and a 34.3% non-controlling stake in the combined entity. Covetrus concurrently divested SmartEquine to Chewy in October 2025 to focus on core offerings, and settled a $70M stockholder class action related to October 2022 securities.

Name

Covetrus

Legal name

Covetrus, Inc.

Website

https://covetrus.com

Company type

Public

Founded year

2019

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Covetrus is a Portland, Maine-based veterinary practice improvement company that combines practice management software (Pulse, AVImark, Impromed), pharmacy, payments, and supply chain distribution to serve independent and corporate veterinary practices across North America, Europe, and Asia Pacific.

Ownership category

akta.pro rank

Product category

Veterinary Practice Management Software

NAICS

Veterinary Services (541940)

SIC

Services-Prepackaged Software (7372), Wholesale-Medical, Dental & Hospital Equipment & Supplies (5047)

akta.pro primary industry

Veterinary Practice Management Systems (PIMS) (HLAMAMAA)

akta.pro secondary industries

Veterinary Inventory, Pharmacy & Medication Management (HLAMAMAF), Veterinary Billing, Payments & Insurance Claims Software (HLAMAMAD), Multi-site/Corporate Group Operations Platforms (Franchise/MSO Tools, Standardization) (HLAMAGAM), Veterinary Practice Management Software (PIMS/EMR, Scheduling, Billing) (HLAMAGAA)

Keywords

• Veterinary practice management
• Animal health distribution
• Veterinary pharmacy services
• Veterinary supply chain
• Practice improvement network

Headquarters

HQ city

Portland

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Supply Chain, Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Software Subscriptions: Subscription-based practice management software including Pulse, AVImark, Impromed, and related modules. Revenue generated through recurring software subscription fees charged to veterinary practices.
2. Supply Chain Distribution: Distribution of veterinary medications, supplies, equipment, and branded products to veterinary practices. Revenue generated through product margins on pharmaceuticals, medical supplies, and equipment sales across 13 distribution centers.
3. Pharmacy Services: Online pharmacy and compounding services for prescription management, home delivery, and office-use medications. Revenue from prescription processing and pharmacy fulfillment.
4. Payment Processing: Covetrus Payments powered by Stripe provides payment processing services to veterinary practices. Revenue generated through transaction fees and payment processing services.
5. VetSuite Membership: Practice improvement network providing rebates, preferred supplier deals, and price list discounts to member practices. Revenue derived from member participation and supplier partnerships.
6. Professional Services: Equipment financing, new build/remodel services, equipment repair, and continuing education services for veterinary practices.

Pricing tiers

Go-to-market motion4 records

Distribution channels4 records

Marketing channels6 records

Core offering

Covetrus provides an integrated veterinary practice improvement platform combining practice management software (Pulse, AVImark, Impromed), prescription management (vRxPro), supply chain distribution of medications and supplies, compounding pharmacy, payment processing, and client engagement tools for veterinary practices. The VetSuite membership network delivers collective purchasing power, rebates, and preferred supplier deals to independent practices, backed by 13 distribution centers and 450+ supplier partners.

Product overview

Covetrus is a veterinary practice improvement company offering a platform-plus-modules architecture centered on the Covetrus Platform, which unifies practice management, prescription management, products/supplies distribution, and client engagement. The core product portfolio includes Covetrus Pulse (practice management software), Covetrus vRxPro (e-prescribing), Covetrus Comms (client communications), Covetrus Payments (Stripe-powered payment processing), Covetrus CarePlans (subscription care plans), Covetrus Supply (medications and supplies distribution), Covetrus Compounding (custom pharmacy), and the Online Pharmacy (home delivery). These are supplemented by acquired brands including Avimark and Impromed practice management systems. The VetSuite program serves as a membership network for independent practices offering collective purchasing power and rebates. The platform connects pre-visit workflows through post-appointment client engagement, with 450+ supplier partners in the distribution network.

Differentiator

Problem solved

Functional benefit

Products and services

• Covetrus Pulse Cloud-based practice management software serving as the central hub for veterinary clinic operations, enabling appointment scheduling, patient records, billing, and workflow management. It is targeted at independent and corporate veterinary practices and integrates with Zoetis Diagnostics for in-workflow diagnostics lookup.
• Covetrus vRxPro Electronic prescription management and approval platform for veterinary practices. Streamlines script creation, approval, and processing with approval times averaging less than one minute per script, enabling teams to handle approximately 15 prescriptions in 5-10 minutes.
• Covetrus Comms Client communications platform that automates appointment reminders, client notifications, and practice communications. Reduces phone call volume by automating requests that would otherwise require manual phone contact.
• Covetrus Payments Payment processing solution powered by Stripe, enabling veterinary clinics to accept card payments, process refunds, view transactions, and send automated receipts. Operates on a 36-month initial term with 12-month automatic renewals and early termination fee.
• Covetrus CarePlans Subscription-based care plan management tool that enables veterinary practices to offer bundled wellness packages to pet owners, supporting patient retention through personalized care experiences and recurring revenue for practices.
• Covetrus Supply Distribution service providing veterinary practices with access to pharmaceuticals, biologics, and medical supplies through 13 distribution centers across the US, carrying products from 450+ supplier partners.
• Covetrus Compounding Compounding pharmacy services that prepare customized medications for veterinary patients, available for both office use and home delivery. Operated through licensed pharmacies and outsourcing facilities across the United States.
• Covetrus Online Pharmacy Home delivery prescription service enabling veterinarians to offer clients convenient medication fulfillment directly to their homes, supporting client retention and practice revenue growth.
• Pet Parent Portal Client-facing digital portal that allows pet owners to access their pets' health records, request appointments, view invoices, and manage prescriptions through a web-based interface.
• VetSuite
• AVImark Practice management software for veterinary clinics, retained as an active product brand within the Covetrus software portfolio. Available with current EULA, hardware support, training, and Data Vault services.
• Impromed Practice management software system for veterinary practices, including the Impromed Equine (Triple Crown) variant for equine practices. Available with current EULA V6.2025, Data Security Solution, and IDSS (ImproMed) Description of Service documentation.
• Covetrus Branded Products Covetrus's own-brand line of veterinary products and supplies, distributed through the company's supply chain to veterinary practices.
• Veterinary Equipment Distribution of veterinary equipment, including diagnostic and clinical equipment, supplied to veterinary practices through Covetrus's distribution network.
• New Build Services Build-out and remodeling services for veterinary practices, including equipment installation, enabling new clinic construction and existing practice renovation.
• Financial Services Equipment financing and financial services for veterinary practices, supporting equipment acquisition, practice investment, and equipment repair.

Quantifiable outcome

• $30K average annual savings per VetSuite member practice through rebates, preferred supplier deals, and price list discounts
• +4 more outcomes

Named customers6 records

Segments6 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

AI capability2 records

Feature10 records

Partnerships

Four partnerships are on record, tiered flagship, minor and core.

• Cencora (formerly AmerisourceBergen)flagshipStrategic or Co-development Partner · 1 February 2026Covetrus agreed to merge with MWI Animal Health, a Cencora subsidiary, in a $3.5B transaction creating a combined animal health platform. Upon closing, Cencora will receive $1.25B cash, $800M preferred equity, and retain 34.3% non-controlling stake in the combined company. The merger combines MWI's distribution infrastructure with Covetrus's technology and practice services.
• PetsApp LtdminorGTM or Marketing Partner · 1 January 2025Covetrus partnered with PetsApp Ltd to launch an expanded Prescriptions Home Delivery service in the UK, combining Covetrus's distribution capabilities with PetsApp's veterinary communication platform to enable convenient prescription home delivery for pet owners.
• ZoetiscoreTechnology or IntegrationCovetrus integrates with Zoetis Diagnostics products, enabling practices using Covetrus Pulse to access Zoetis diagnostic capabilities directly within their practice management workflow, including VETSCAN diagnostics integration.
• StripecoreTechnology or IntegrationCovetrus Payments is powered by Stripe, providing payment processing services including card payments, refunds, automated receipts, and transaction management for veterinary practices. Stripe serves as the payment processor under the Covetrus Payments brand.

Scale indicators9 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• IDEXX Laboratories: IDEXX is the dominant veterinary diagnostics and software company, operating the Cornerstone and ezyVet practice management systems plus a leading in-clinic diagnostics suite. It competes head-on with Covetrus Pulse/AVImark for the same independent and corporate vet practice accounts.
• MWI Animal Health: MWI is one of the two largest US veterinary product distributors and is the merger partner in Covetrus's pending $3.5B combination. It directly overlaps with Covetrus Supply and competes for the same veterinary practice distribution relationships.
• Patterson Companies: Patterson is the third major US veterinary and dental distributor and one of the players being reduced by the Covetrus-MWI combination. It is directly comparable to Covetrus's North American distribution and animal health supply business.

Broad incumbents

• Henry Schein: Henry Schein is a large incumbent healthcare distributor (dental, medical, animal health) and was the prior parent of the Covetrus-branded business (formerly Henry Schein Veterinary Solutions). It is a broad incumbent rather than a focused PIMS competitor.
• Zoetis: Zoetis is the largest pure-play animal health pharma and diagnostics company and a Covetrus integration partner (Zoetis Diagnostics inside Pulse). It is a broad incumbent that competes for veterinary practice wallet share and is also a strategic supplier/customer of Covetrus.
• Phibro Animal Health: Phibro is a diversified animal health and mineral nutrition company serving livestock and companion animal markets. It is comparable to Covetrus on the manufacturer/supplier side of the animal health value chain rather than on PIMS.

Regional players

• Vetoquinol: Vetoquinol is a global animal health pharmaceutical company with strong presence in Europe and emerging-market geographies where Covetrus also operates. It is a regional/portfolio peer on the animal health products side rather than a direct US distribution competitor.

Emerging players

• Chewy: Chewy is an online pet pharmacy and retail platform that acquired Covetrus's SmartEquine business in late 2025. It is an emerging competitive threat in online pharmacy fulfillment and a counterpart in the consumer-facing pet care value chain.
• PetDesk: PetDesk is a SaaS platform offering veterinary client communication, appointment reminders, and pet parent engagement. It competes directly with Covetrus Comms and the Pet Parent Portal for the same SMB vet practice segment.
• ezyVet (IDEXX): ezyVet is a cloud-native veterinary practice management system now owned by IDEXX. It is a direct PIMS competitor to Covetrus Pulse, particularly attractive to digitally native and corporate vet groups.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/CovetrusGSSNA
• YouTubeyoutube.com/covetrusnorthamerica
• Facebookfacebook.com/Covetrus-275109349852570
• LinkedInlinkedin.com/company/covetrus

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries9 records

Funding overview

Funding rounds3 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A4 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Covetrus