The cost of pet ownership continues to rise. The U.S. Bureau of Labor Statistics reports the cost for veterinarian services has gone up 6.2% compared to July 20
(WFSB) August 29, 2024 | By Cassidy Williams
The cost of pet ownership continues to rise. The U.S. Bureau of Labor Statistics reports the cost for veterinarian services has gone up 6.2% compared to July 2023.
Desiry is a Chihuahua that is now back running around the Newington dog park after leg surgery. She broke her leg during a failed attempt to catch a squirrel. Her owner, Raymond, says the surgery cost $6,000.
“It’s a daughter, so you know we’ll do anything for our fur babies,” said Raymond.
Raymond was able to make it work, but the Connecticut Humane Society believes those high costs are leading to full shelters. Executive director James Bias says nationwide data shows dog adoptions are down 5% this year.
A recent LendingTree study reports 12% of Americans say they have surrendered a pet because they can no longer afford it.
The animal advocacy group Desmond’s Army believes the high costs are also contributing to the rise in abandoned dogs across Connecticut.
“We have seen an exorbitant amount of animals being abandoned, many of them are in really, really bad health. Although we never find the owners, we can assume that many of them are abandoned because the cost of the vet care is just out of their reach,” said Linda Pleva with Desmond’s Army.
Members of Desmond’s Army joined senator Richard Blumenthal outside the Connecticut Humane Society Thursday to call out who they believe is responsible for this problem: private equity firms.
“What’s happening here is private equity companies, the hedge funds, and the big wall street firms are rolling up private vet care clinics, one by one, vet by vet,” said Blumenthal. “They are pressuring the individual vets to upsell their clients on new procedures, new diagnosis, new surgery, that may be unnecessary.”
Specifically, Blumenthal sent letters to two private equity firms: JAB Holding Company and KKR. The letters demand more information about just how many veterinary clinics the firms own and more information about their history and finances. Blumenthal is also calling for strong oversight by the FTC over future mergers.
A KKR spokesperson provided the below statement:
“KKR has nearly five decades of experience investing in and backing quality companies, one of which is team of committed, compassionate veterinary professionals. KKR recognizes the incredibly important role that veterinarians play in the lives of pet owners -- and quality, affordable care and supporting those who deliver it is at the core of this business. We have received Senator Blumenthal’s letter and will respond.”
JAB Holding did not return our request for comment.
Thursday’s press conference was also attended by Vet Care Everywhere. The nonprofit offers free or low-cost in-home veterinary care for animals whose primary caregivers are seniors, veterans, or have a disability.
The Connecticut Humane Society’s Fox Clinic can also provide discounted veterinary care.
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