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
News Market Reaction – PET
On the day this news was published, PET declined 23.84%, reflecting a significant negative market reaction. Argus tracked a trough of -29.2% from its starting point during tracking. Our momentum scanner triggered 20 alerts that day, indicating elevated trading interest and price volatility. This price movement removed approximately $2M from the company's valuation, bringing the market cap to $8M at that time.
Data tracked by StockTitan Argus on the day of publication.
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
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