Lead Veterinarian

Chewy has entered a definitive agreement to acquire Modern Animal, a technology-forward veterinary platform with 29 clinics, 24/7 virtual care and over 100,000 member families. The acquisition will instantly scale Chewy Vet Care's footprint from 18 to 47 locations nationwide and add over $125 million in annualised run rate revenue. The deal represents a strategic step in Chewy's evolution into a fully integrated pet healthcare ecosystem. Modern Animal clinics demonstrate attractive unit economics, with revenue per location twice the industry average and EBITDA margins exceeding 20% for mature clinics. The transaction is expected to be EBITDA-dollar neutral in 2026 and accretive to earnings per share within the first year following close. Closing is expected in Chewy's second quarter of fiscal year 2026, subject to regulatory approval.

Chewy acquires Modern Animal, expanding vet clinic network. The deal will grow Chewy Vet Care from 18 to 47 locations and add more than US$125 million in annualized run rate revenue. April 8, 2026 Chewy Inc. has entered into a definitive agreement to acquire Modern Animal Inc., a veterinary platform with 29 owned clinics, 24/7 virtual care and a membership model, the company announced. The acquisition will expand Chewy Vet Care's footprint from 18 to 47 locations nationwide and is expected to add more than $125 million in annualized run rate revenue. The deal is projected to be EBITDA-dollar neutral in 2026 on a pro forma basis, with EBITDA-dollar contribution expected to begin in 2027. Modern Animal clinics report revenue per location more than twice the industry average, with EBITDA margins exceeding 20% for mature clinics. The company operates a membership model with more than 100,000 member families. "Modern Animal perfectly complements our strategy to become the preeminent end-to-end pet health ecosystem, utilizing both owned and asset-light models," said Sumit Singh, Chewy CEO. "We are acquiring a high-growth platform with positive 4-wall EBITDA at the clinic level, a best-in-class operating engine, and over 100,000 member families. This deal accelerates our Vet Care expansion, drives higher long-term customer value, and creates a clear competitive moat in the industry." Steven Eidelman, founder and CEO of Modern Animal, said the company has focused on the experience of accessing and delivering care since its founding. "Chewy shares that vision, and we are committed to building the future of veterinary care together, through medical excellence, expanded access and exceptional experiences for both pet parents and the veterinary teams that support them," he said. Chewy estimates the integration will produce roughly 15-20% uplift in net sales per active customer for its veterinary network through increased engagement, cross-category purchasing and retention of Modern Animal member families. "The joining of Modern Animal's best-in-class operating systems and clinical expertise with Chewy's unparalleled customer acquisition and engagement engines creates an industry-leading, high ROI business almost immediately," said Mita Malhotra, president of Chewy Health. "Together, we can broaden access to convenient, high-quality veterinary care and deepen relationships with pet parents through a more connected healthcare experience." The U.S. veterinary services market was valued at approximately $40 billion in 2025 and is growing at roughly 5% annually. Chewy currently serves more than 21 million active customers. The transaction is subject to customary closing conditions, including regulatory approval, and is expected to close in Chewy's second fiscal quarter of 2026. Previously issued financial guidance remains unchanged pending close. Chewy's board of directors also authorized a US$500 million increase to the company's existing share repurchase program. Unlock Personalized Content! Sign up and the recommendations below will be more personalized for you!