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VIRGINIA BEACH, VA - Inspire Veterinary Partners, Inc. (NASDAQ:IVP), a U.S. pet health care services provider with current annual revenue of $17.05 million and a market capitalization of $2.47 million, has announced its intention to acquire a central Florida animal hospital, which could potentially increase its revenue by $1.8 million. This move, if finalized, would mark the company’s fifth location in Florida and expand its total network to 14 animal hospitals.
The letter of intent (LOI) for the acquisition reflects a non-binding agreement to purchase 100% ownership interest in the multi-doctor general practice, which offers a range of services including surgical procedures, dental care, and wellness care for companion animals. The transaction is anticipated to close in Q2 2025, subject to due diligence and a definitive agreement. According to InvestingPro data, IVP currently operates with a significant debt burden and faces liquidity challenges, with a current ratio of 0.63.
Inspire’s President & CEO, Kimball Carr, expressed optimism about the growth strategy and the vibrant Florida veterinary market. He highlighted the recent hire of a new director of business development as a catalyst for exploring further acquisitions and partnerships throughout 2025.
The LOI outlines preliminary terms, and both parties have agreed to negotiate in good faith towards a definitive agreement. However, no assurance can be given that a definitive agreement will be reached or that the proposed transaction will be completed. The details of the proposed transaction will only be disclosed if and when a definitive agreement is executed.
Inspire Veterinary Partners operates a network of veterinary hospitals and continues to seek additional acquisitions to expand its presence in the U.S. market. The company’s growth strategy includes acquiring general practice, mixed animal facilities, and critical and emergency care hospitals.
This announcement contains forward-looking statements subject to risks and uncertainties. Factors that could affect the completion of the acquisition include the satisfaction of customary closing conditions and other risks detailed in the company’s SEC filings. The company’s stock has experienced significant volatility, with a one-year price decline of 98.51%, while trading near its 52-week low. Inspire has no obligation to update forward-looking statements as per applicable law.
The information presented is based on a press release statement from Inspire Veterinary Partners, Inc.
In other recent news, Inspire Veterinary Partners has announced an amendment to its Articles of Incorporation to increase the total number of authorized shares of Class A common stock to 100 million, following approval by the majority of voting securities. This move provides the company with flexibility for future endeavors, such as raising capital or funding acquisitions. Additionally, Inspire Veterinary Partners has successfully regained compliance with Nasdaq’s minimum bid price requirement, having met the necessary criteria as of February 10, 2025. Prior to this, the company enacted a reverse stock split at a ratio of 1-for-25, effective January 3, 2025, to elevate its per share bid price and meet Nasdaq standards. The reverse stock split resulted in a proportional reduction of authorized shares from 100 million to 4 million. Furthermore, Inspire Veterinary Partners has regained compliance with Nasdaq’s minimum equity requirement, although it remains under a Mandatory Panel Monitor until December 12, 2025, to ensure continued adherence to listing standards. The company’s recent developments also include a new employment agreement with CFO Richard Frank, effective March 3, 2025, which outlines his compensation and performance-based incentives. These actions reflect Inspire Veterinary Partners’ strategic efforts to align with Nasdaq requirements and position itself for future growth.
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