Trupanion, a provider of medical insurance for cats and dogs, has entered into an agreement to acquire Royal Blue, the parent company of pet insurer PetExpert.
Trupanion aims to give pet owners peace of mind so they can focus on their pet’s recovery, not financial stress. The insurer has over 800,000 pets enrolled across the US, Canada, Europe, Puerto Rico and Australia.
Founded in 2018 PetExpert is an online veterinary-centric pet insurance provider with its policies and operations in the Czech Republic and Slovakia.
According to Trupanion, this acquisition marks its second European acquisition, adding a well-established, fast-growing company in support of its global expansion plans.
Trupanion added that it expects additional synergies from its recently completed acquisition of Smart Paws, including its existing relationships with the veterinary community.
The transaction is expected to close in the fourth quarter of 2022 and no additional terms were disclosed.
Simon Wheeler, EVP of International at Trupanion, said, “We are excited to bring together our like-minded businesses, allowing us to collectively work to eliminate the financially burdensome reimbursement model in Europe and enable pet owners and veterinarians to focus on quality of care over financial considerations.
“PetExpert swiftly broadens our European footprint into the Czech Republic and Slovakia, and we expect Belgium and Poland to follow in the coming months.”
Margi Tooth, president of Trupanion, added, ““We are excited to welcome PetExpert to Trupanion and work together to advance our international expansion initiatives, a key part of our 60-month plan. We believe that Continental Europe’s underpenetrated market holds great opportunity for our high-coverage Trupanion product, with its unique support for pet parents and the veterinary community alike, to distinguish itself as the product of choice.”
Earlier this year, JAB’s European pet insurance platform Pinnacle Pet Group (PPG) revealed its plans to acquire German pet insurance provider AGILA Tierversicherung.
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