Banfield (pet hospitals)
Encyclopedia
Banfield, the Pet Hospital is a privately owned company that operates veterinary clinics based in Portland, Oregon
, United States
. A subsidiary of Mars, Incorporated
, Banfield owns clinics in the United States, Mexico, and the United Kingdom. Founded in 1955, the company operates many of its 700 plus clinics inside PetSmart
stores. Banfield is the largest privately owned veterinary practice in the United States.
. In 1987, Scott Campbell purchased the single veterinary hospital which had about $2 million in annual revenues. Medical Management International, Inc. (MMI) was created to own the clinic, and in 1994 the pet store chain PetSmart teamed up with MMI to open pet clinics in their stores initially called VetSmart. By 1996 the private company had grown to in excess of 150 locations in 18 states with over 600,000 pets treated annually and 1,100 employees. PetSmart received rent and a share of the profits from the clinics, and owned part of MMI as part of the deal between the companies. In 2000, Banfield purchased PetSmart’s other clinics named Petsmart Veterinary Services.
The company grew to more than 250 clinics by 2001. That year MMI launched BluePaw Family Pet Insurance Company to sell health insurance for pets. After a lawsuit by the Blue Cross and Blue Shield Association
, the name was changed to TruePaws in August 2001. In January 2004, the company bought a property for $2.3 million from the Portland Public Schools for a new headquarters on NE 82nd Avenue. They also opened a clinic in England, their first international location, and operated 360 clinics in all.
In October 2004, they began building a new $25 million building for their headquarters on the 5.5 acres (22,257.7 m²) plot that would total 225000 square feet (20,903.2 m²). At that time the company had become the largest privately owned veterinary practice in the United States. They employed more than 4,000 worldwide, of which 900 were veterinarians. In 2004, Banfield opened 80 more clinics and financed teaching hospitals affiliated with the veterinary medicine programs at Western University of Health Sciences
and National Autonomous University of Mexico
in California
and Mexico City
respectively. The clinics also began working with Purdue University
and the Centers for Disease Control to develop a system to use the data the clinics collect to monitor for possible bioterrorism attacks.
By 2005, the company served 3.5 million animals annually at 450 clinics worldwide. That year the Banfield Charitable Trust was created to provide free care to economically disadvantaged pet owners. Banfield also opened a third stand-alone hospital, located in Colorado Springs, Colorado
. In early 2007, PetSmart sold off part of its share of MMI, Banfield’s parent company.
In September 2007, long-time chief executive officer (CEO) Scott Campbell sold his shares of the company to Mars, Incorporated
, retired as CEO, and John Payne took over the position, while Campbell remained chairman of the company. Banfield sold off its Merlin Digital Technology division that developed imaging equipment in September 2008. In 2008, the company totaled 725 locations spread throughout the United States, Mexico, and the United Kingdom. The $6.5 million Banfield Veterinary Clinical Center at Western University of Health Sciences opened in August 2008. The company was named one of thirteen companies that would be hiring in 2009 despite the economic crisis.
Portland, Oregon
Portland is a city located in the Pacific Northwest, near the confluence of the Willamette and Columbia rivers in the U.S. state of Oregon. As of the 2010 Census, it had a population of 583,776, making it the 29th most populous city in the United States...
, United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
. A subsidiary of Mars, Incorporated
Mars, Incorporated
Mars, Incorporated is a worldwide manufacturer of confectionery, pet food, and other food products with US$30 billion in annual sales in 2010, and is ranked as the 5th largest privately held company in the United States by Forbes. Headquartered in McLean, unincorporated Fairfax County, Virginia,...
, Banfield owns clinics in the United States, Mexico, and the United Kingdom. Founded in 1955, the company operates many of its 700 plus clinics inside PetSmart
PetSmart
PetSmart, Inc. is a retail chain doing business in the United States and Canada engaged in the sale of specialty pet supplies and services such as grooming and dog training, PetSmart PetsHotel dog and cat boarding facilities and Doggie Day Care.- History :...
stores. Banfield is the largest privately owned veterinary practice in the United States.
History
Banfield was founded in northeast Portland, Oregon, in 1955 by Warren J. Wegert. The name comes from the nearby Banfield FreewayInterstate 84 in Oregon
In the U.S. state of Oregon, Interstate 84 travels east–west, following the Columbia River and the rough path of the old Oregon Trail from Portland east to Idaho. For this reason, it is also known as most of the Columbia River Highway No. 2 and all of the Old Oregon Trail Highway No. 6 . It...
. In 1987, Scott Campbell purchased the single veterinary hospital which had about $2 million in annual revenues. Medical Management International, Inc. (MMI) was created to own the clinic, and in 1994 the pet store chain PetSmart teamed up with MMI to open pet clinics in their stores initially called VetSmart. By 1996 the private company had grown to in excess of 150 locations in 18 states with over 600,000 pets treated annually and 1,100 employees. PetSmart received rent and a share of the profits from the clinics, and owned part of MMI as part of the deal between the companies. In 2000, Banfield purchased PetSmart’s other clinics named Petsmart Veterinary Services.
The company grew to more than 250 clinics by 2001. That year MMI launched BluePaw Family Pet Insurance Company to sell health insurance for pets. After a lawsuit by the Blue Cross and Blue Shield Association
Blue Cross and Blue Shield Association
The Blue Cross Blue Shield Association is a federation of 39 separate health insurance organizations and companies in the United States. Combined, they directly or indirectly provide health insurance to over 100 million Americans. The history of Blue Cross dates back to 1929, while the history of...
, the name was changed to TruePaws in August 2001. In January 2004, the company bought a property for $2.3 million from the Portland Public Schools for a new headquarters on NE 82nd Avenue. They also opened a clinic in England, their first international location, and operated 360 clinics in all.
In October 2004, they began building a new $25 million building for their headquarters on the 5.5 acres (22,257.7 m²) plot that would total 225000 square feet (20,903.2 m²). At that time the company had become the largest privately owned veterinary practice in the United States. They employed more than 4,000 worldwide, of which 900 were veterinarians. In 2004, Banfield opened 80 more clinics and financed teaching hospitals affiliated with the veterinary medicine programs at Western University of Health Sciences
Western University of Health Sciences
Western University of Health Sciences is a non-profit, private, graduate school for the health professions. The university campus includes 11 major buildings on in downtown Pomona, California....
and National Autonomous University of Mexico
National Autonomous University of Mexico
The Universidad Nacional Autónoma de México is a university in Mexico. UNAM was founded on 22 September 1910 by Justo Sierra as a liberal alternative to the Roman Catholic-sponsored Royal and Pontifical University of Mexico The Universidad Nacional Autónoma de México (UNAM) (National Autonomous...
in California
California
California is a state located on the West Coast of the United States. It is by far the most populous U.S. state, and the third-largest by land area...
and Mexico City
Mexico City
Mexico City is the Federal District , capital of Mexico and seat of the federal powers of the Mexican Union. It is a federal entity within Mexico which is not part of any one of the 31 Mexican states but belongs to the federation as a whole...
respectively. The clinics also began working with Purdue University
Purdue University
Purdue University, located in West Lafayette, Indiana, U.S., is the flagship university of the six-campus Purdue University system. Purdue was founded on May 6, 1869, as a land-grant university when the Indiana General Assembly, taking advantage of the Morrill Act, accepted a donation of land and...
and the Centers for Disease Control to develop a system to use the data the clinics collect to monitor for possible bioterrorism attacks.
By 2005, the company served 3.5 million animals annually at 450 clinics worldwide. That year the Banfield Charitable Trust was created to provide free care to economically disadvantaged pet owners. Banfield also opened a third stand-alone hospital, located in Colorado Springs, Colorado
Colorado Springs, Colorado
Colorado Springs is a Home Rule Municipality that is the county seat and most populous city of El Paso County, Colorado, United States. Colorado Springs is located in South-Central Colorado, in the southern portion of the state. It is situated on Fountain Creek and is located south of the Colorado...
. In early 2007, PetSmart sold off part of its share of MMI, Banfield’s parent company.
In September 2007, long-time chief executive officer (CEO) Scott Campbell sold his shares of the company to Mars, Incorporated
Mars, Incorporated
Mars, Incorporated is a worldwide manufacturer of confectionery, pet food, and other food products with US$30 billion in annual sales in 2010, and is ranked as the 5th largest privately held company in the United States by Forbes. Headquartered in McLean, unincorporated Fairfax County, Virginia,...
, retired as CEO, and John Payne took over the position, while Campbell remained chairman of the company. Banfield sold off its Merlin Digital Technology division that developed imaging equipment in September 2008. In 2008, the company totaled 725 locations spread throughout the United States, Mexico, and the United Kingdom. The $6.5 million Banfield Veterinary Clinical Center at Western University of Health Sciences opened in August 2008. The company was named one of thirteen companies that would be hiring in 2009 despite the economic crisis.
Operations
Clinics inside PetSmart locations average four veterinarians and about 1800 square feet (167.2 m²). Banfield operates more than 670 clinics inside PetSmart locations nationwide. As of 2007, annual revenue totaled USD$187.5 million and the company employed more than 5,000 people. Banfield provides veterinary care for pets and also sells discounted care packages called Optimum Wellness Plans. The company’s headquarters in Northeast Portland includes an off-leash dog park open to the public.External links
- Banfield's home web page
- Employers seek creative cures for surging health costs - Portland Business Journal