IPH ENTERS STRATEGIC PARTNERSHIP WITH SYNCHRONY AND COMPLETES ACQUISITION OF PETS BEST
Synchrony Expands Leadership in the Pet Industry Through Ownership Stake in IPH; Two Synchrony Executives to Join IPH Board of Directors
PHOENIX and
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.
"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," said
"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," said
IPH's acquisition of Pets Best builds upon a current relationship between
Pets Best is a leading pet insurance provider in
About
Established in 2021,
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 the right customers in their channel of choice. For more information, visit www.synchrony.com.
About
Pets Best offers pet insurance and wellness plans for dogs and cats in the
Pet insurance coverage offered and administered by Pets Best Insurance Services, LLC is underwritten by American Pet Insurance Company, a
Forward-Looking Statements
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by words such as "will," "expect," "continue," or words of similar meaning. The forward-looking statements convey expectations, intentions, or forecasts related to the strategic partnership between Synchrony and IPH and the sale of Pets Best, which are based on assumptions and estimates, and are subject to inherent uncertainties, risks and changes that are difficult to predict. As a result, actual results could differ materially from those indicated in these forward-looking statements. For the reasons described above, we caution you against relying on any forward-looking statements, which should also be read in conjunction with Synchrony's public filings, including under the heading "Risk Factors Relating to Our Business" and "Risk Factors Relating to Regulation" in the Company's Annual Report on Form 10-K for the fiscal year ended
Media Contact:
For IPH
For Synchrony
Michelle Blaya Romero: Michelle.Romero@syf.com
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