Spokane Venture fund Northwest Venture Associates invests $5 million in Pets Choice Inc

Northwest Venture Associates, a venture capital fund
founded in Spokane, has made a $5 million investment in a
chain of veterinary hospitals.

From staff reports Spokesman Review

The money for Pet’s Choice Inc. supplements a smaller
investment made in an earlier round of funding, Northwest
managing partner Tom Simpson said Friday.

Simpson will join the board of Pet’s Choice, which is based
in Bellevue.

The company operates 49 veterinary hospitals in
Washington, Texas, Arizona and Oklahoma. Revenue for
the 21 hospitals in Washington has increased 5 percent so
far in 2002 compared with last year, Simpson said.

Pet’s Choice employs 933, including 161 veterinarians.

Pet’s Choice said the funds from Northwest Ventures will
be used to buy more hospitals and equipment.

Northwest maintains offices in Spokane and Seattle.

http://www.spokesmanreview.com/news-story.asp?date=102602&ID=s1241787&cat=section.business