Boehringer Ingelheim has acquired an equity stake in China-based New Ruipeng Group (NRP Group), a fast-growing business that offers veterinary care, e-commerce and many other services to pet owners and the broader animal health market across China.
“Improving the health of animals and humans is what drives us in Boehringer Ingelheim. Strong collaborations and partnerships have always been key to achieving this goal,” said Jean Scheftsik de Szolnok, member of the Boehringer Ingelheim board of managing directors with responsibility for animal health. “Together with NRP Group and other partners, we are looking forward to serving pet owners in China and contributing with our knowledge in areas such as disease understanding or training and education.”
China’s pet market is one of the fastest-growing markets in the world, the announcement said. The number of pets keeps rising, as they play an increasingly significant role in people’s lives, and pet owners are looking for integrated online and offline products, services and information, Boehringer Ingelheim said.
“We are committed to expanding our active role in this dynamic and fast-paced market. Along with NRP Group and our other partners, we believe we can advance animal health care in China to the benefit of our customers, our employees, our businesses and, most importantly, the pets,” added David Gocken, head of animal health for The Chinese Markets, Boehringer Ingelheim.
Through collaboration and knowledge sharing, the aim of the partnership with NRP Group is to offer better solutions, quality advice and professional care to the growing number of pets and pet owners across China.
This is an exciting milestone for the company’s business development in China, Boehringer Ingelheim said, noting that it will continue to invest in China and make its contributions to people’s aspirations for integrated and innovative solutions for their pets.
Boehringer Ingelheim added that it remains fully committed to its current and future business partners, such as other clinics, veterinarians, distributors and animal health companies, and to expanding business opportunities with them. Both companies will continue to work independently according to their respective business models.
Through this investment, Boehringer Ingelheim joins a group of Chinese and overseas investors in NRP Group, including Tencent Holdings Ltd., a Chinese multinational technology company.
NRP Group set up the first hospital for companion animals via a partnership in 1993 and has been a pioneer in the pet industry and pet care sector in the past 30 years. NRP Group is a large conglomerate in the emerging industry, with a focus on pet care and with diversified businesses featuring strong innovation capability and growth potential.
NRP Group has set up more than 1,400 referral centers, central hospitals, specialist hospitals and community hospitals in more than 80 core cities across China. It has more than 16,000 employees, engaging nearly 80% of experts and professors in the pet industry.
Boehringer Ingelheim Animal Health is the second-largest animal health business in the world, with net sales of 4 billion euros in 2019 and a presence in more than 150 countries.