Pathway Partners Receives Significant Investment from Morgan Stanley Global Private Equity Funds

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AUSTIN, Texas–(BUSINESS WIRE)–Pathway Partners Vet Holding LLC (“Pathway” or the “Company”) announced
today that it has received an investment from funds managed by Morgan
Stanley Global Private Equity (collectively, “MSPE”). Founded by Dr.
Jasen Trautwein and led by CEO Shawn McVey, Pathway is a leading
veterinary hospital owner and operator.

Pathway is partnering with MSPE to prepare for rapid expansion.
Simultaneous with the MSPE transaction, the Company acquired multiple
additional clinics through partnerships with leading veterinary
practices and chains in the Northeast, the Mid-Atlantic region and
Southern California. The transaction has substantially increased the
size and geographic footprint of the Company, with 35 clinics in 9
states across the country.

Pathway Partners is an Austin, Texas based operator of veterinary
practices and a veterinary management company that provides business
support for its portfolio of clinics. Pathway has differentiated itself
through its stated mission of being an alternative to a “corporate” exit
strategy, by focusing on the unique needs of each practice and truly
partnering with the local team to implement their vision and work with
their values.

Founded in 2003, Pathway Partners has grown from a single practice in
Austin to a national platform. Pathway believes that veterinary
practices can be successfully operated by a team of values-driven
professionals that want the benefits of management support without
losing the heart and passion of the owner and community that built the
practice. Pathway looks for practices and doctors seeking opportunities
to grow and increase the value of their clinics.

“Practices today are larger, more expensive and take management
expertise to operate well. Further, many younger veterinarians are
saddled with large debt, do not want to own practices and seek work life
balance. Pathway Partners is the solution to this problem,” says CEO
Shawn McVey. “We wanted to build a company that would provide all the
business support necessary for the veterinarians to focus on the parts
of their job that they trained for: medicine and patient care. We want
to relieve the veterinary professional of the burden of management and
create systems for managers and veterinarians to focus on developing
their business and building bonds with team members and the community
they serve. ”

Aaron Sack, co-head of MSPE, said, “We are excited and fortunate to have
met Pathway. MSPE has a history of investing in founder-owned companies
in attractive industries. Dr. Trautwein, Shawn and Pathway’s talented
leadership team have positioned the Company as an industry leader with a
strong culture and dedication to patient care.”

About Pathway

Pathway Partners is an Austin, Texas based operator of veterinary
practices and a veterinary management company that provides business
support for its portfolio of clinics. The Company is comprised of 35
clinics in 9 states.

Contacts

Pathway Partners:
Shawn McVey, 512-828-7255
CEO
shawn@pathwayvets.com