Veterinary Growth Partners Selects Synchrony's CareCredit as Financing Solution for Members

Rhea-AI Summary

Synchrony partners with Veterinary Growth Partners to offer financing options and digital payment features for veterinary practices

Positive

• VGP's 7,300+ members will have access to CareCredit's financing options and digital features to grow their practices
• Synchrony and VGP will offer member-only events and education opportunities for veterinary practice members
• CareCredit has been a valuable financing option for pet owners for over 30 years

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• None.

Partnership To Offer Special Financing Options, Modern Digital Payment Features and Financial Education Resources

STAMFORD, Conn., Oct. 10, 2023 /PRNewswire/ -- Synchrony (NYSE: SYF), a leading consumer finance company, has announced that its CareCredit health and wellness credit card will now be a financing option for members of Veterinary Growth Partners (VGP), a veterinary management services organization that connects veterinary practices with resources that maximize efficiency and optimize profitability. VGP's 7,300 plus members will have access to CareCredit's suite of financing options, innovative digital features and marketing solutions to help grow their veterinary practices.

"The partnership with VGP is evidence of our shared commitment to empowering veterinary practices to achieve their maximum potential, while ensuring that every pet owner can provide a lifetime of care for their pet," said Jonathan Wainberg, Senior Vice President and General Manager, Pet, Synchrony. "Through this collaboration, we're broadening access to simple, flexible financing solutions, and ensuring providing seamless and efficient service for both veterinary practices and pet owners."

VGP and Synchrony will offer member-only events and continuing education opportunities to give all VGP veterinary practice members direct access to Synchrony's and VGP's veterinary experts, as well as opportunities such as marketing collaborations, co-branding initiatives and strategies to enhance practice productivity.

"There is a lot of joy seeing pet owners and their healthy pets. We've chosen to team with Synchrony because of their ability to offer consumers flexible financing solutions that give our members the tools they need," says Robert Sigman, President, VGP. "We believe that CareCredit's deep expertise in the consumer financing space for veterinarians is unmatched."

For more than 30 years, CareCredit has partnered with veterinary practices to streamline financial workflows and payment processes, reducing accounts receivable and improving cash flow. For pet owners, CareCredit has been a valuable financing option for all types of veterinary services, treatments and diagnostics, giving pet owners peace of mind and the confidence that they are ready to care for their beloved pets throughout their lifetime.

Pet owners looking for a flexible way to pay for their animal's care can quickly confirm if they prequalify for the CareCredit credit card in real time, with no impact to their credit score, and apply on any smart device, in a veterinary practice or over the phone. A credit decision is immediate and if approved, they can use their account to pay the veterinarian immediately. CareCredit offers shorter-term and longer-term financing options, including deferred interest, based on purchase amount and a user-friendly online calculator that makes it easy for pet owners to quickly estimate monthly payments.

CareCredit is offered in more than 25,000 veterinary practices across the U.S. For more information, please visit www.carecredit.com

About Synchrony
Synchrony (NYSE: SYF) is a premier consumer financial services company delivering one of the industry's most complete digitally enabled product suites. Our experience, expertise and scale encompass a broad spectrum of industries including digital, health and wellness, retail, telecommunications, home, auto, outdoor, pet and more. We have an established and diverse group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers, which we refer to as our "partners." We connect our partners and consumers through our dynamic financial ecosystem and provide them with a diverse set of financing solutions and innovative digital capabilities to address their specific needs and deliver seamless, omnichannel experiences. We offer the right financing products to customers in their channel of choice. For more information, visit www.synchrony.com.

About Veterinary Growth Partners 
Veterinary Growth Partners (VGP) is a management services organization specializing in empowering members to reach their practices' full potential. VGP offers an extensive range of services, including business consulting, training, education, negotiated vendor contracts, technology solutions, networking opportunities, and performance metrics and benchmarking. 

Contact:
Lauren Devilbiss
Synchrony
Lauren.Devilbiss@syf.com
240-814-5825

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SOURCE Synchrony

FAQ

What is the partnership between Synchrony and Veterinary Growth Partners about?

The partnership aims to provide financing options and digital payment features for veterinary practices.

What benefits will VGP members have from the partnership?

VGP members will have access to CareCredit's financing options, digital features, and marketing solutions to help grow their practices.

What is CareCredit?

CareCredit is a financing option for pet owners to pay for veterinary services, treatments, and diagnostics.

How can pet owners apply for the CareCredit credit card?

Pet owners can quickly prequalify for the CareCredit credit card in real time, with no impact to their credit score, and apply on any smart device, in a veterinary practice, or over the phone.

Where is CareCredit offered?

CareCredit is offered in more than 25,000 veterinary practices across the U.S.