Partnership with cloud-based practice management software platform, ezyVet signals the formal launch of Opy USA’s differentiated offering into the US healthcare market and triggers Openpay UK’s expansion into the healthcare sector
MELBOURNE AUSTRALIA (March 22, 2021): ‘Buy now. Pay smarter.’ company, Openpay Group Ltd (ASX: OPY) (Openpay and Opy USA) announced its entry into the US and UK veterinary markets via new partnerships with ezyVet.
ezyVet is the next generation in cloud-based practice management software for veterinary professionals who want to save time, grow their business, and deliver excellence in all aspects of veterinary care. ezyVet supports clinical data across the workflows of over 40,000 licensed users and 2,000 practices across several countries.
Under the agreements, Openpay will be integrated as a payment option within the ezyVet vet practice management software, and ezyVet will introduce vet practice clients to Openpay. ezyVet has more than 2,000 practices globally, of which more than 1,200 are in the US, accounting for 25% of the veterinary cloud software market in the US. This partnership will enable any of ezyVet’s practices in the US and those in the UK to offer payment plans to pet owners seeking to spread the cost of their veterinary procedures and treatments.
Openpay plans on the ezyVet platform are expected to be made available to consumers in the UK before the end of FY2021 and in early FY2022 in the US.
Openpay CEO, Michael Eidel commented, “We launched with ezyVet in September last year in Australia to enable pet owners and their fur babies to access Openpay. With a surge in the number of pets being brought into families through COVID-19 lockdowns, this relationship really took off as people sought smarter ways to budget and pay for pet care.”
“We’re delighted to be taking the successful model and trusted partnership with ezyVet to our US and UK operations. This is an important milestone for us – it signifies our first significant US partnership and our entry into the UK healthcare vertical.”
ezyVet CFO Pete Brown said, “We like Openpay because it doesn’t restrict itself to just one vertical. Consumers can use it for their petcare, dentist and optometrist appointments, they can even service their car. This increases the likelihood of consumers already having the application on their phone.”
Brian Shniderman, Opy USA CEO & Openpay Global Chief Strategy Officer added, “With US$50.2b2 forecast spend in 2021 on US veterinary services, Opy will now be able to support pet owners’ payment needs so that they can take care of their most loyal friends that helped get them through the pandemic.”
“In the US, owners spend an average of around US$1,3803 annually on their dogs which make up the majority of pets in US households. We plan to be just as loyal to our customers as dogs are to their human families by giving them the ability to pay for unexpected illnesses and injuries that afflict all of their cherished pets.”
The ezyVet partnership signifies the Company’s first major US agreement and puts a substantial milestone marker in the second pillar of Opy USA’s six pillar strategy – to grow at scale in the US via a wholesale merchant strategy and distribution model.
In addition, this agreement delivers upon Openpay UK’s stated strategy to build upon its strong critical mass of customers in Retail to drive into its specialised verticals of Healthcare and Automotive.
Openpay looks forward to making regular market updates regarding its substantial growth plans.