Corporate America Is In Love With Vet Clinics : Planet Money : The Indicator from Planet Money We love our pets, but do you know what Corporate America loves even more? Veterinary clinics. Today on the show, we explore the explosion of corporate investment in the vet clinic world.

The Vet Clinic Chow Down

The Vet Clinic Chow Down

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Tannis Toohey/Toronto Star via Getty Images
(Photo by Tannis Toohey/Toronto Star via Getty Images)
Tannis Toohey/Toronto Star via Getty Images

Americans love their pets. More than 63 million U.S. households own a dog and more than 42 million own a cat. People also have fish, horses, birds and lizards as pets. Last year U.S. consumers spent more than 100 billion dollars on their pets, with more than 31 billion going to vet care. With that increase in spending, some large corporations have been increasingly investing in the world of... vets.

Grant Jacobson is a vet in Marshalltown, Iowa. He'd worked at the same clinic for almost two decades and planned one day to buy the place. But a large corporation outbid his price by one million dollars and took over the clinic. That company was Mars. The candy maker is also one of the largest pet food producers and vet clinic operators in the world. As large corporations chase deals and buy out clinics left and right, how are small, independent vets like Grant being impacted?

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