IPH ENTERS STRATEGIC PARTNERSHIP WITH SYNCHRONY AND COMPLETES ACQUISITION OF PETS BEST | PR Newswire [Video]

Synchrony Expands Leadership in the Pet Industry Through Ownership Stake in IPH; Two Synchrony Executives to Join IPH Board of Directors

, /PRNewswire/ — Independence Pet Holdings, Inc. (“IPH”), a leading multi-brand, multi-channel pet insurance provider, and Synchrony (NYSE:SYF), a premiere consumer financial services company, today announced that IPH has completed the acquisition of Pets Best Insurance Services, LLC (“Pets Best”) 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.

Through the collaboration, IPH and Synchrony will explore a diverse range of opportunities, …