Independence Pet Holdings enters partnership with Synchrony

Independence Pet Holdings and Synchrony announced that IPH has completed the acquisition of Pets Best Insurance Services from Synchrony. Synchrony received a portion of the consideration as an equity investment in IPH and committed to enter into a commercial agreement with IPH, both of which will help expand IPH’s activities in the pet industry and enable both Synchrony and IPH to further capitalize on synergies between Synchrony’s CareCredit health and wellness credit card and IPH’s products in the pet insurance industry. IPH will also appoint two Synchrony executives to its Board of Directors. IPH has completed the acquisition of Pets Best Insurance Services from Synchrony. 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.