LOUISVILLE, Ky. — MetLife, Inc. and PetFirst Healthcare, LLC , a fast-growing pet health insurance administrator based in Jeffersonville, Ind., today announced they have entered into a definitive agreement under which MetLife will acquire PetFirst.
PetFirst currently employees about 60 people in their Jeffersonville offices. All of these employees are expected to continue in their current or similar positions.
“For more than 15 years, we have proudly focused on developing products and services to meet the growing and evolving needs of pet parents across the U.S. During this time, we have seen pet insurance continue to gain importance as a valuable product for families. With MetLife’s tremendous reach and resources, we see a strong opportunity to help more pet parents get access to pet insurance and alleviate the potential financial burden of a sick or injured pet," said PetFirst CEO, Katie Blakeley.
PetFirst recently celebrated its 15th anniversary by distributing 15,000 pet treats to animal shelters around the country.
Blakeley said that in the long term, the acquisition could mean even more jobs in Jeffersonville, as MetLife will be offering the product to more employers around the country.
PetFirst currently administers insurance coverage on more than 40,000 pets and distributes its pet insurance products through animal welfare agencies, direct to consumer channels and employers.
“Pet insurance has become an increasingly important voluntary benefit, and this transaction allows us to capitalize on this rapidly growing market opportunity,” said Ramy Tadros, president of U.S. Business for MetLife. “Today’s employees have an increasing expectation of their employer to support their lives holistically, and offering pet insurance provides our customers’ employees additional support against unexpected out-of-pocket pet health expenses. PetFirst is a leading pet health insurance administrator and we look forward to welcoming the talented PetFirst team to the MetLife family.”
The deal is expected to close in the first quarter of 2020 subject to customary closing conditions and approvals.