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08
Apr, 2024

By Nikki Cabus

Chewy Opens Its First Veterinary Practice with Launch of Chewy Vet Care

Read Time 4 Minutes

Just last week, Chewy Inc., a trusted online destination for pet parents and partners, opens it’s very first vetrinary practice with the launch of their Chewy Vet Care.

Chewy, Inc. (“Chewy”) (NYSE: CHWY) is on a mission to be the most trusted and convenient online destination for pet parents (and partners) everywhere. The company is the preeminent online source for pet products, supplies, and prescriptions as a result of their broad selection of high-quality products offered at competitive prices and delivered with an exceptional level of care and a personal touch. Chewy continually develops innovative ways for customers to engage and partner with approximately 2,500 of the best and most trusted brands in the pet industry to bring a high-bar, customer-centric experience to their customers. One of those ways is through the new Chewy Vet Care.

Chewy Vet Care is a veterinary practice that offers a wide array of services, from routine wellness care to urgent care and surgeries.  The passionate, friendly care team provides the highest-quality medical care, backed by Chewy’s award-winning customer service. The entire Chewy Vet Care experience is designed to help you and your pet feel at ease, with thoughtfully designed spaces and advanced technology that puts scheduling and your pet’s medical records right at your fingertips.

“We partnered with hundreds of veterinarians and customers to design an in-practice and post-visit experience which we believe will be unlike anything in the market, and appreciated by both communities,” said Mita Malhotra, President, Chewy Health.

“Our practices contain thoughtfully designed spaces for the comfort and privacy of our customers and care team. Chewy Vet Care will be powered by our proprietary, easy-to-use modern technology, to deliver a seamless and memorable experience, which we have delivered for over a decade in our core businesses. Expanding into veterinary care is the natural next step in Chewy’s evolution and we are excited to bring our customer-forward thinking to our veterinarians and practice team.”

“Today is one for the history books. We are opening the doors to our first Chewy Vet Care practice and for the first time, Chewy is physically a part of our customers’ lives and in their neighborhood. I am incredibly proud of all the team members across the company who worked tirelessly to make this vision a reality. Together, we are creating an experience that is extraordinary and memorable for our customers, and our veterinary teams,” Mita posted on social media.

The first Chewy Vet Care practice opened in Plantation, Florida with locations to follow in Coral Springs, Florida, Dever, Colorado, and Atlanta, Georgia. The clinic offers services such as routine appointments, urgent care and surgery. The practices will be powered by Chewy’s custom-built open platform that can seamlessly be applied to Chewy Vet Care or third-party partner practices.

Chewy Vet Care joins the portfolio of best-in-class Chewy Health offerings, which include America’s #1 pet pharmacy; an industry-leading tele-triage service, Connect with a Vet; an exclusive suite of pet-first insurance and wellness plans, CarePlus; market-leading eCommerce offerings, including a deep assortment of health products ranging from veterinary diet foods to supplements; and award-winning, 24/7 customer service that offers personalization and consistency at every interaction.

Launched in 2020, Chewy has been offering their popular telehealth service, Connect with a Vet, which offers timely advice from licensed veterinarians and gives you a personalized consult report. Through free chats or $19.99 for a 20 minute video call, pet owners can access a resource when its needed most including after hours and on the weekends. This allowed Chewy to make pet health and wellness more accessible and affordable everywhere as part of the company’s signature focus on creating a personalized experience for pet parents as well as their vet partners.

“Chewy Vet Care is inspired and designed by a team of veterinary experts to combine personal, patient-centered medicine with the latest technology in an environment where customers will love to take their pets, and care teams will love to practice,” said Dr. Benjamin Carter, Chief Medical Officer, Chewy Vet Care.

“We are confident we can drive positive change by addressing critical pain points straining the veterinary industry, such as burnout and lack of flexibility, while providing the convenient, transparent and trustworthy access to care that today’s discerning pet parents appreciate.”

As the leading online pet pharmacy in the United States, Chewy is focused on using products and technology to improve the overall health and wellbeing of every pet-owning household in America through increased access, affordability, and creating an unparalleled customer experience. To learn more about Chewy Vet Care, visit www.chewy.com/vet-care

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28
Feb, 2024

By Nikki Cabus

Carewell Secures $24.7 Million in Series B Funding and hires former Chewy executives

Read Time 4 Minutes

Carewell announced a $24.7 million Series B capital raise to further accelerate its mission of streamlining access to home health products.

Carewell is the No. 1 ecommerce destination for caregiving products. Carewell customers can shop across a wide variety of categories, including incontinence, nutrition, mobility, mom & baby and more. With a team of highly trained customer care experts, over 300+ educational articles, detailed video content, FAQs and descriptive product pages, Carewell takes the guesswork out of caregiving, setting it apart from other online retailers and drug stores.

This latest round of funding was led by the principals of MBF Healthcare, with participation from existing investors Sageview Capital and Headline among others. In addition, the company has made several senior level hires amidst plans to relocate their headquarters to Miami.

“Family caregiving is becoming an increasingly more common experience in the U.S. with spouses, children, parents, and even grandchildren having to take on a caregiving role overnight without warning,” said Bianca Padilla, CEO and Founder of Carewell.

“Understandably, these individuals can experience significant mental, physical, and emotional stress as they balance their role as caregivers with other responsibilities to work and family, and our mission at Carewell is to help educate, support and advocate for these selfless heroes.”

Co-founder and CEO Bianca helped her mom care for her grandmother they had no clue which products they needed, much less where to find them or how to use them. Online marketplaces were confusing, local shops had limited selection and no discretion, and both experiences lacked empathy. Bianca was shocked there was no What to Expect guide like there is for new parents, so she and her husband and co-founder Jonathan dedicated their lives to creating a solution for family caregivers just like you.

Founded in 2017, Carewell is a source of support for independent caregivers seeking helpful and knowledgeable customer service, educational resources, and affordable, trusted products, including incontinence supplies and nutritional supplements. The funds from the Series B round will fuel Carewell’s growth strategy, bolster the company’s e-commerce technology, and enhance overall customer experience, focusing on improved service and an expanded suite of products.

“As healthcare investors for over 40 years, we have strived to create greater value for our investors when focusing on companies that provide a point of difference to their customers and patients,” said, Mike B. Fernandez, Chairman of MBF Healthcare Plans.

“Carewell’s commitment to providing an exceptional 24/7 customer experience and tailored high-end products at competitive prices sets them apart from competitors and we are proud to support a family-run company dedicated to shaping the future of healthcare and caregiving.”

MBF Healthcare Partners II, L.P. is a leading middle-market healthcare private equity fund based in Coral Gables, Florida. Our strategy is to partner with exceptional management teams while leveraging MBF’s operating experience, domain segment knowledge, and tenured relationships to rapidly accelerate value creation. The partners of MBF have substantial operating experience in healthcare and have held senior management positions in both private and publicly traded healthcare companies. MBF principals have managed and helped build some of the nation’s most innovative and successful healthcare companies. The firm is headquartered in Coral Gables, Florida.

Additional investors in this round of funding include Primetime Partners, Nextview, Florida Opportunity Fund, and Anchor.

Alongside the capital raise, Carewell has also announced the hiring of several senior executives from Chewy.com as part of relocating its headquarters to the Miami area.

  • Samantha Rassner joins as Chief Technology Officer from BEX Realty and previously led software development at Chewy.com, where she was responsible for expanding the brand’s e-commerce technology and pool of tech talent.
  • Jason Klinghoffer joins as Chief Marketing Officer from Chewy, where he led the company’s growth marketing strategy and co-led three capital raises.
  • Mike Pacifico joins as Chief Financial Officer from Chewy. Prior to this he was CFO at Arteza, a DTC arts and crafts brand.
  • Kelli Durkin joins as Vice President of Customer Service, bringing a wealth of expertise in customer experience from previous roles at The Farmer’s Dog and Chewy.

“Mike, Jason, Sam, and Kelli all bring significant ecommerce industry experience and a strong track record of working together from their time at Chewy.com. Their addition reaffirms our commitment to providing affordable healthcare solutions for caregivers, and we are thrilled to welcome them into the Carewell family,” said Ms. Padilla.

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08
Dec, 2023

By Nikki Cabus

David Reeder to Join Chewy as Chief Financial Officer

Read Time 2 Minutes

Chewy, Inc. (NYSE: CHWY) (“Chewy”) announced the appointment of David Reeder as their next incoming Chief Financial Officer (CFO).

After the retirement of long-term executive Mario Marte, Stacy Bowman stepped in as interim CFO. Upon David’s arrival, which is expected to place February 14th, 2024, Stacy Bowman will continue serving as Chewy’s Chief Accounting Officer.

“David is a highly experienced finance executive who has driven strong results across a range of complex industries,” said Sumit Singh, CEO of Chewy. “I am excited for David to join Chewy and to play an important role in driving long-term, profitable and capital efficient growth as we execute on key strategic priorities across our business.”

David Reeder is currently the CFO of GlobalFoundries Inc. (Nasdaq: GFS), a leading semiconductor manufacturer, where he has been for almost three and a half years. He has served as CFO since 2020 and led their financial strategy, including their 2021 initial public offering. David previously served as Chief Executive Officer (CEO) of Tower Hill Insurance Group, as well as President and CEO of Lexmark International Inc. Earlier in his career, David was CFO at Electronics for Imaging, Inc., and he also held executive roles at Cisco Systems, Inc., Broadcom Inc., and Texas Instruments Inc.

According to a filing with the U.S. Securities and Exchange Commission, David Reed, age 48, will receive an annual base salary of $600,000. He will also be eligible to receive a one-time new hire equity grant with a value of $16,843,750 (subject to the Board’s approval) which will be granted in restricted stock units of Chewy.

“Chewy is a beloved brand and a world-class enterprise, whose sustained growth, significant margin expansion and operational excellence continue to elevate the pet category,” said David Reeder. “I am thrilled to join Chewy’s leadership team and couldn’t be more excited about the road ahead.”

David is currently a member of the board of directors of Alphawave IP Group plc. He holds a Bachelor of Science degree in Chemical Engineering from University of Arkansas and a Master of Business Administration degree from Southern Methodist University.

Since launching in, Chewy has been on a mission to be the most trusted and convenient destination for pet parents and partners everywhere. The company aims to be the preeminent online source for pet products, supplies and prescriptions. Chewy has been known for their broad selection of high-quality products and services, competitive prices, and an exceptional level of customer care and a personal touch.

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Chewy Opens Its First Veterinary Practice with Launch of Chewy Vet Care
Carewell Secures $24.7 Million in Series B Funding and hires former Chewy executives
David Reeder to Join Chewy as Chief Financial Officer