IPH partners with Synchrony

Independence Pet Holdings has completed the acquisition of Pets Best from Synchrony Financial, and now the companies are announcing a commercial agreement to capitalize on synergies between Synchrony’s CareCredit health and wellness credit card and IPH’s products in the pet insurance industry.

Through the collaboration, IPH and Synchrony will explore a diverse range of opportunities, joint product development, key technology partnerships, and insight sharing for improved customer experience and optionality across the pet insurance and pet-care financing industries.

As part of the Pets Best deal, Synchrony received a portion of the consideration as an equity investment in IPH.

“We are excited to partner with IPH to drive long-term growth and expand our opportunities in the pet space, including the ability to offer CareCredit to millions of additional pet owners. Together, our companies bring extensive capabilities and expertise to deliver on our growth strategy, drive industry innovation, and serve the growing needs of our pet families.” – Beto Casellas, EVP and CEO, Health & Wellness, Synchrony.

“Pet parents deserve access to the greatest range of pet insurance products, tailored to the personal needs of their pets. The unique combination of IPH’s broad portfolio of brands with Synchrony’s industry-leading digital capabilities will allow us to enhance our offerings for pet parents. We are thrilled to welcome the Pets Best team to the IPH family and look forward to working closely together to diversify its offering and accelerate the brand’s growth.” – Dirk Beeckman, Chairman of IPH.