In this turbulent era of job cuts and stock market swings, businesses are usually more-than-happy to take investor monies. But, not all investment is celebrated equally among the political and chattering classes. President Biden and Congressional allies such as Sen. Elizabeth Warren (D-Mass.) have roundly criticized private equity (PE) firms as vultures intent on mining companies for profit, laying off workers, and deteriorating the consumer experience. Their current ire has been directed at veterinary practices, which have seen about $45 billion worth of PE dealmaking over the past five years. What Sen. Warren et al don’t tell you is that PE investment in these practices are helping veterinarians and the four-legged friends they take care of.
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