JAB’s Pet Insurance Platform Acquires Pumpkin, Expanding its Global Leadership in the Fast-Growing Pet Insurance Industry
Summary
Zoetis (NYSE:ZTS), the world’s largest animal health company, will maintain a significant minority stake in Pumpkin and continue its commercial partnership with the business. Pumpkin works with veterinarians to create differentiated wellness offerings and provides a holistic accident and illness insurance plan so pet parents can help keep their cats and dogs healthy year-round. Pumpkin’s insurance plans cover a wide range of health issues and treatments including, but not limited to: hereditary conditions, behavioral problems, dental illnesses, sick visit exam fees, emergency services, surgery, and alternative therapies like acupuncture. “ In line with our ambition to create the leading pet insurance platform globally, Pumpkin brings both a world-class team and new technology using data and diagnostics to improve care decisions, both of which will benefit our global business moving forward.” “ We are excited to partner with JAB and Zoetis to fulfill our vision of enabling the best pet care possible ‘fur’ all,” said Alex Douzet, CEO of Pumpkin. Pumpkin Pet Insurance plans offer dog and cat owners advanced veterinary care coverage for accidents and illnesses, and their optional Preventive Essentials non-insurance add-on offers life-threatening disease prevention through reimbursing for vaccines and the related annual wellness exam and lab tests, helping enable consumers to make data-informed care decisions based upon their individual pets health needs.