Wag! Group Co. Announces Sale of Furscription to MWI Veterinary Supply Co.

Rhea-AI Summary

Wag! Group Co. (Nasdaq: PET) has announced and completed the sale of its Furscription business to MWI Veterinary Supply Co. The transaction, which closed on July 14th, 2025, includes the Furscription brand, e-prescribing technology, related assets, and the transfer of four Wag! employees to MWI.

The cash proceeds from the sale will be used to pay down outstanding debt. This strategic move aligns with Wag!'s ongoing efforts to strengthen its financial position and focus on core service and wellness offerings. For MWI, the acquisition enhances their tech-enabled solutions portfolio, providing veterinary practices with improved prescription management capabilities.

[ "Strategic debt reduction through sale proceeds", "Streamlined business focus on core services and wellness offerings", "Successful exit of non-core business unit", "Alignment with ongoing strategic review to enhance shareholder value" ]

Positive

• None.

Negative

• Divestment of technology asset and potential future revenue stream
• Loss of four employees to acquiring company
• Reduction in business diversification

Insights

Corporate Finance Analyst

Wag! sells Furscription to MWI, using proceeds to reduce debt while refocusing on core business as part of strategic review.

Wag! Group has completed the sale of its Furscription business to MWI Veterinary Supply, a transaction that carries several strategic implications. The deal, which closed on July 14th, included the transfer of Furscription's brand, e-prescribing technology, related assets, and four employees to MWI.

The cash considerations from this transaction will be directed toward paying down outstanding debt, strengthening Wag!'s balance sheet. While the specific sale amount wasn't disclosed, this debt reduction represents a tangible financial benefit that could improve the company's financial flexibility and reduce interest expenses.

This divestiture appears to be part of a broader strategic review initiated by Wag! and its Board to enhance shareholder value. The company is explicitly refocusing on its core offerings of services and wellness, suggesting a more streamlined business approach rather than diversification.

For MWI, Furscription complements their existing technology-enabled solutions for veterinary practices, potentially creating synergies that Wag! might have struggled to develop independently. The e-prescribing platform aims to simplify prescription requests for veterinary staff, addressing operational inefficiencies in veterinary practices.

This transaction represents classic corporate restructuring—shedding non-core assets to strengthen the balance sheet and sharpen strategic focus. The move suggests Wag! is prioritizing financial stability and operational focus over maintaining a broader portfolio of pet-related businesses, which could improve long-term competitiveness in their primary market segments.

Transaction Reflects the Board’s Ongoing Strategy to Maximize Shareholder Value

SAN FRANCISCO, July 15, 2025 (GLOBE NEWSWIRE) -- Wag! Group Co. (“Wag!”; Nasdaq: PET), which strives to be the number one platform to solve the service, product, and wellness needs of the modern U.S. pet household, announced today that it has simultaneously entered into a definitive agreement (the “Agreement”) and completed the sale of its Furscription business to MWI Veterinary Supply Co. (“MWI”), a leading global provider of veterinary products, services and solutions.

Under the terms of the Agreement, Furscription was sold to MWI for cash considerations. The transaction includes the Furscription brand, e-prescribing technology and related assets. In addition, four Wag! employees are joining MWI as part of the transaction, which closed on July 14th, 2025. Proceeds from the transaction will be used to pay down outstanding debt.

“We’re very proud of what we built with Furscription and feel fortunate to have partnered with such a talented and dedicated team,” said Garrett Smallwood, CEO and Chairman of Wag!. “We are confident that Furscription is in great hands with MWI, who we believe is well-positioned to bring the product to market and realize its full potential.”

“This transaction marks an important step in our ongoing efforts to strengthen our financial position and streamline our focus on our core offerings of services and wellness. In partnership with our Board, it also reflects the meaningful progress we’re making in our strategic review as we continue to pursue opportunities to enhance shareholder value and optimize our capital structure.”

Steve Shell, SVP & President, MWI, commented: “As veterinary practices face new pressures, we remain focused on providing them with access to the solutions they need to improve the client experience, optimize operations and grow revenue — all while continuing to deliver high-quality care. Furscription builds upon our existing tech-enabled solutions and provides our customers with access to a platform that aims to simplify prescription requests, allowing vet staff to devote more time to pet care.”

About Wag! Group Co.

Wag! Group Co. strives to be the number one platform to solve the service, product, and wellness needs of the modern U.S. pet household. Wag! pioneered on-demand dog walking in 2015 with the Wag! app, which offers access to 5-star dog walking, sitting, and one-on-one training from a community of over 500,000 Pet Caregivers nationwide. In addition, Wag! Group Co. operates Petted, one of the nation’s largest pet insurance comparison marketplaces; Dog Food Advisor, one of the most visited and trusted pet food review platforms; WoofWoofTV, a multi-media company bringing pet content to over 18 million followers across social media; and maxbone, a digital platform for modern pet essentials. For more information, visit Wag.co.

About Furscription

Furscription is a digital tool designed to assist veterinarians and clinic staff streamline the prescription process. Furscription provides a secure, user-friendly software solution, and offers veterinarians access to a suite of features — including e-prescribing and prescription management tools — meant to enhance the prescribing experience and support efficient access to prescribed medications. For more information, visit Furscription.com.

About MWI Veterinary Supply Co.

MWI Veterinary Supply Co. is a leading global provider of veterinary products, services, and solutions that support the operations of veterinarians and animal healthcare. By combining local expertise with global reach, MWI Veterinary Supply Co. delivers innovative solutions that promote animal health and well-being. Learn more at www.mwiah.com.

Contact Us

Media: Media@wagwalking.com

Investor Relations

Wag!: IR@wagwalking.com

Gateway for Wag!: PET@gateway-grp.com

FAQ

What did Wag! Group (PET) sell to MWI Veterinary Supply?

Wag! Group sold its Furscription business, including the brand, e-prescribing technology, and related assets to MWI Veterinary Supply Co.

When did the Wag! Group Furscription sale close?

The sale transaction closed on July 14th, 2025.

How will Wag! Group use the proceeds from the Furscription sale?

Wag! Group will use the proceeds from the sale to pay down outstanding debt.

How many Wag! employees are transferring to MWI as part of the Furscription sale?

Four Wag! employees are joining MWI as part of the transaction.

What is the strategic reason behind Wag! Group's sale of Furscription?

The sale is part of Wag!'s strategy to strengthen its financial position, streamline focus on core offerings, and enhance shareholder value through strategic review.