A telephonic scheduling conference will be scheduled after receipt of . Ownership agreement: partnership/ownership Schultz previously had success representing employees who believed they were unfairly terminated, according to an article in the local Journal of Business. Buys in: United States, Canada, Australia, New Zealand and Singapore Founded: in 1995 The Commission also is imposing strong prior approval and prior notice requirements on both JAB and its divesture buyers for future acquisitions of specialty and emergency veterinary clinics. Founded: in 2007 by Frank Batten, DVM and Steve Thomas Central Veterinary Associates RIP OFF ARTISTS BAD VETS JUST WANT YOUR MONEY AND LET UR PET DIE. Suite Life Pet Resort Oak Ridge TnSuite Life Pet Resort in Oak Ridge | NVA is the largest private owner of freestanding veterinary hospitals. National Veterinary Associates - Lensa Number of hospitals: 168 (+12 since January 2022) This unwavering goal has led to investments in veterinary medicine, innovation, and modernizing the pet parent experience. National Veterinary Associates is a law firm in Agoura Hills, CA. It was not until months later that the veterinarians who left PEC learned that PEC's non-binding agreement with NVA still would apply to them as shareholders. The Commission vote to issue the complaint and accept the proposed order for public comment was 5-0. Management was overseen by a board that met monthly. Last updated 4 days ago. Founded: in 2018 by Dr. Kent Thornberry Veterinarians Following a public comment period, the Federal Trade Commission has approved a final order settling charges that Compassion First's proposed $5 billion acquisition of National Veterinary Associates, or NVA, would violate federal antitrust law. Work-Life balance. Founded: in 1996 Veterinarians who work for corporations say they definitely have quotas theyneed to meet, said the shareholder. The consultancy raised a number of issues, including: veterinarian salaries that accounted for 36 percent of revenues, compared with a national average of 25 to 29 percent, and contributed to PEC's high fees; the lack of a full-time practice manager; and "the negativity and culture of the practice.". "Having a corporation own an emergency clinic that used to be owned by veterinarians changes the conversation," said one veterinarian who voted against the deal. Assistance in operations and administrative tasks including management, purchasing, IT, finance/accounting, renovations, equipment upgrades, etc. JAB Said to Weigh IPO for Pet-Care Unit as Soon as This Year - Bloomberg If National Veterinary Associates, Inc. is your company and you would like to remove it from the D&B Business Directory, please contact us. Number of hospitals: 3,700 (+300 since January 2022) community clinic locations and 200+ wellness centers (The company partners with local pet and retail stores to provide affordable preventative and wellness pet care hosted within their facilities. VIN News Service commentaries are opinion pieces presenting insights, personal experiences and/or perspectives on topical issues by members of the veterinary community. ), Customized leadership and mentorship for veterinarians and practice managers, Support in HR (Payroll, Recruiting, Policies/Insurance), Practice oversight provided by Vets Pets Medical Directors, Extensive support in IT, Accounting, Finance, Marketing, The Ultimate CarePackage, a suite of 16 innovative DVM benefits aimed at providing both personal and professional support, Stock option opportunities for all team members, Development and support in the form of experienced leadership and expert consultancy, Practice owners who care about their legacy, staff, clients and patients, Medical practices and protocols are always left in the hands of the veterinarians and their teams, Benefits, including a focus on work-life integration, Roundtable discussions on new trends and developments in veterinary medicine and more. National Veterinary Associates - Funding, Financials, Valuation & Investors "Not one single one of us was happy about the contract or its implications. Companies directory >>. According to the complaint, this deal is part of a growing trend towards consolidation in the emergency and specialty veterinary services markets across the United States in recent years by large chains, including JAB, which regularly monitors local markets throughout the United States in contemplation of continued growth through potential small and large acquisitions of specialty and emergency clinics. The lawsuit against PEC and NVA also draws attention to professional divisions arising as veterinary emergency and referral clinics, serving a critical role as hubs for after-hours and advanced veterinary care, become businesses worth millions of dollars that attract large corporate suitors eager to expand into new markets. Veterinary service providers Compassion First and National Veterinary Associates, or NVA, have agreed to divest facilities in three locations to MedVet Associates, LLC, to settle Federal Trade Commission chargesthat Compassion Firsts proposed $5 billion acquisition of NVA would violate federal antitrust law. Buys in: nationwide We enforce federal competition and consumer protection laws that prevent anticompetitive, deceptive, and unfair business practices. Eligibility to become an ESOP participant is to work at least 20 hours per week in any of Galaxy Vets settings. ), HR, talent acquisition, and marketing, Buying new equipment and handling facility, technology, and software upgrades, Consistent support from MVPs regional medical director and operations manager, Benefits (401(k) plans, CE, PTO, and healthcare), Keeping the local brand and culture intact, Back-end support in operations and administrative tasks, Career opportunities and staff benefits for full-time employees, Continued focus on the business Local Brand and Culture, Employee benefits package (Healthcare, 401k, PTO, CE), Unrivaled expert support to ensure success, Practices with a great culture and prominent leadership potential, Retention of brand identity and practices unique approaches to medicine, Relieving administrative burdens (accounting, payroll, HR, marketing, operations, etc. Ownership status:Investors: D1 Capital Partners And Fidelity Management and Research Company Veterinary Chain Owned by JAB Holding Hit With Monopoly Claims Case draws attention to common provision in practice sales and acquisitions. Veterinary service providers Compassion First and National Veterinary Associates, or NVA, have agreed to divest facilities in three locations to MedVet Associates, LLC, to settle Federal Trade Commission charges that Compassion First's proposed $5 billion acquisition of NVA would violate federal antitrust law. NOTE: The Commission issues an administrative complaint when it has reason to believe that the law has been or is being violated, and it appears to the Commission that a proceeding is in the public interest. It uses an Employee Stock Ownership Plan (ESOP) and allocates equity to all of its employees veterinarians, technicians, support and management staff, as well as relief workers. Please fill out the form below if you want to receive new versions by email. The suit brought by Choker and DeMarco is pending in Spokane County Superior Court butalready has prompted NVA to suspend the acquisition. The divestiture buyer, MedVet Associates, LLC, operates specialty and emergency veterinary clinics in other geographic markets and is well positioned to operate the three divested clinics. We are a community of veterinary hospitals and pet resorts united by our love of animals and the people who love. Buys in: Texas, California, Florida JAB Investors' NVA buys Ethos Veterinary Health in $1.65bn deal Schultz said she's witnessed a similar dynamic in human medicine, where exclusive referral agreements can trigger federal anti-kickback laws. Each violation of such an order may result in a civil penalty of up to, HSR threshold adjustments and reportability for 2023, A Century of Technological Evolution at the Federal Trade Commission, National Consumer Protection Week 2023 Begins Sunday, March 5, FTC at the 65th Annual Heard Museum Guild Indian Fair & Market - NCPW 2023, JAB Consumer Partners/National Veterinary Associates/SAGE Veterinary Partners, In the Matter of, Concurring Statement of Commissioners Noah Joshua Phillips and Christine S. Wilson, Statement of Chair Lina M. Khan, Joined by Commissioner Rebecca Kelly Slaughter and Commissioner Alvaro M. Bedoya Regarding JAB Consumer Fund/SAGE Veterinary Partners, Competition in the Health Care Marketplace. Ownership agreement: earn-out The site is secure. Buys in: US In recent years, several states have moved to restrict their reach. Meanwhile, Choker and DeMarcohave established an emergency pet clinic about 35 miles away in Coeur d'Alene, Idaho, population 50,000. "Spokane is like an island, and 25 miles encompasses most of that area," said Roasa, who sometimes teaches at Washington State University's veterinary school in Pullman, 75 miles from Spokane. The .gov means its official. Extensive support in accounting/finance, IT, and marketing, Dedicated personnel to support ongoing talent management, retention, and career development, Partnership with PetMedic urgent care, which provides after-hours relief to overwhelmed emergency hospitals and local veterinarians, Medicine: Full freedom in clinical practices and standards. Business support offered: Website: https://www.petparadise.com/ Founded: in 2011 by CEO Rich Lester Covetrus Expands Prescription Management Relationship with National Business support offered: Website: https://vetevolve.com/ Some of her clients, she said, were deterred from PEC because ofits prices. NOTE: The Commission issues an administrative complaint when it has reason to believe that the law has been or is being violated, and it appears to the Commission that a proceeding is in the public interest. Veterinary practice consolidation is progressing, and in the upcoming years, we are likely to see more private equity firms buying practices which will be eventually swallowed up by even bigger corporations. event : evt, 2022-12-01, Dallas County District Courts | Personal Injury | Back-office services, including finance, accounting, legal, HR, payroll, and marketing. Buys in: nationwide NVA is a leading global veterinary community of nearly 1,200 independently managed veterinary hospitals providing specialty, emergency, and general medical care, and more than 100 pet resorts, all united in the love of animals and the people who love them. National Veterinary Associates (NVA) Website: https://www.nva.com/ Founded: in 1996 Ownership status: acquired by JAB Investors from Ares Management (PE) and OMERS (PE) in 2019 (JAB also owns Compassion-First Pet Hospitals) Number of hospitals: 1400+ (specialty, ER hospitals, and pet resorts) in the U.S., Canada, Australia, and New Zealand The Federal Trade Commission works topromote competition, and protect and educate consumers. JAB is the parent company of two firms that operate chains of veterinary clinics providing general, specialty, and emergency care Compassion-First Pet Hospitals and National Veterinary Associates, Inc. SAGE Veterinary Partners owns and operates 16 veterinary clinics offering specialty and emergency care in Texas, California, Washington, and Alaska. window.mc4wp = window.mc4wp || { Learn more about your rights as a consumer and how to spot and avoid scams. Veterinarians challenged noncompetes tied to proposed merger, But merger hasnt happened and vets never signed, judge says. In 2017, VCA, which now owns more than 1,000 vet clinics in North America, was acquired by Mars Inc., the legacy of Americas third-richest family that stands behind confectionery brands including M&Ms, Twix, and Orbit, as well as pet food brands including Pedigree. Why is this public record being published online? Ownership status: family-owned and led 00 Medium & Large Breed Adult Dogs (Over 5 Months) - $150. And courts generally have accepted the need for corporate buyers to protect their assetsvia noncompete agreements. We bring proven processes, modern technologies, and our deep domain expertise to the rapidly growing veterinary consolidation market. The https:// ensures that you are connecting to the official website and that any information you provide is encrypted and transmitted securely. Website: https://www.arizonapetvet.com/ Founded: in 2014 by two veterans Paul Habenicht and Nick Lodestro Extensive support in finance and accounting, HR, IT, and marketing, Practice management software with an extensive set of features (online scheduling, patient portals, voice notes, text messaging, etc.) Number of hospitals: 100+ hospitals in 30 states The company must also notify the FTC in writing 30 days prior to acquiring any specialty or emergency veterinary clinic within 25 miles of a clinic owned by JAB anywhere in the United States that otherwise is not required to be reported under the Hart-Scott-Rodino Act. Commissioners Noah Joshua Phillips and Christine S. Wilson also issued a statement. Founded: in 2006 by co-founders Litman and Jon Shell Chief Financial Officer. Business support offered: Alliance Animal Health provides resources and assistance in business operations, additional education and mentoring for vets, custom-built financial offerings, and more. The VIS team will be updating the article when we receive new information regarding vet consolidators. "You cant expect someone to drive two hours to work at another job," Roasa said. Docket Entries 07/28/2021 Website: https://www.inspirevet.com/ Founded: in 2016 by Imperial Capital as a sister company of VetStrategy, the Canadian veterinary group As the two parties negotiated a non-binding letter of intent, word spread that NVA was willing to pay as much as $900 a share for the emergency clinic. The joint decision-making model is also available. An official website of the United States government. Their most recent acquisition was Ethos Veterinary Health on Aug 16, 2021. Business support offered: The company offers wellness and prevention care, diagnostics exams, routine and advanced surgery, emergency care as well as daycare and grooming services, enabling clients to take proper care of their pets. Use of VIN content is limited to personal reference by VIN members. The Commission vote to issue the complaint and accept the proposed consent order for public comment was 5-0. You can learn more about how competition benefits consumers or file an antitrust complaint. 6 . Buys in: under certain circumstances ); Website: https://evervetpartners.com/ Founded. Dosages should be confirmed prior to dispensing medications unfamiliar to you. For the latest news and resources,follow the FTC on social media,subscribe to press releasesandread our blog. Practice eligibility criteria: Ownership agreement: 100 percent or majority sale to Encore, with stakes in Encore for practice sellers and associates available. Fast & Free; LEGAL PLAN. Number of hospitals: 36 (+7 since January 2022) emergency 24/7 locations in 12 states Full freedom in clinical practices and standards, Continuing education and professional development opportunities, Ability to maximize retirement proceeds when the partner chooses to step down, Connecting the hospital to Caras extensive resources in technology and systems, inventory management, pricing optimization, marketing, as well as talent acquisition, training, and retention, Utmost regard for the practices unique culture and relationships, Enhanced learning and development opportunities for veterinarians and associates through Caras medicine network and its relationships with the worlds most respected health care organizations, Improved sustainability through the long-term family-ownership model, Fostering a strong family culture, which makes the best foundation for preserving the practices legacy. NVA Welcomes PetWell Partners to the Family! The money was attractive to many, but others worried that the sense of trust and cooperation between PEC and surrounding clinics would be lost. Practice eligibility criteria: MedVet is currently looking for like-minded teams to join their expanding network. Two internists on the payroll also signed the noncompete, although one later relocated. Learn why private investors and corporate buyers think veterinary medicine is a golden opportunity-and how you can get your share. We enforce federal competition and consumer protection laws that prevent anticompetitive, deceptive, and unfair business practices. We have over 14,000 veterinary . "The way it was created to have the local community of veterinarians be the shareholders was a brilliant game plan," said a former PEC veterinarian. The National Veterinary Associates Executive Team is rated a "F" and led by CEO Gregory Hartmann. Find legal resources and guidance to understand your business responsibilities and comply with the law. Ownership agreement: 100% sale (cash) Many such conflicts have notbeen reported widely because they typically are settled quietly, said Dr. Lance Roasa, a Nebraska-based veterinarian and lawyer whorepresents companies acquiring veterinary practices. The clinic was a great success. Her NVA partnership gives her more time off while maintaining a stable, growing practice. Share prices, set annually by an accounting firm based on an established formula, rose virtually every year to the current price of about $370. Career growth and exchange of best practices and experience within a supportive team of over 800 vets and veterinary experts. Learn more about your rights as a consumer and how to spot and avoid scams. employee, claims to have. Looking for legal documents or records? Buys in: Mid-Atlantic, Midwest, Northeast and Southeast We promise not to spam you too much. While noncompetes are used in many industries and professions in the U.S., state laws dictate how they're enforced. Back in 2017, it was over 10 percent (around 3,500 of 32,000), according to the Brakke Consulting estimation and the real numbers change nearly every month. Improved operational efficiency through HQ-staffed telehealth and hands-on growth lever implementation, including centralized recruiting, vendor management, inventory management, and workflow optimization. We tried to find out these specific details about every veterinary group: The main criteria for inclusion in this list are companies that are actively buying and managing veterinary practices. Buys in: across the US Fostering professional growth and development of local teams. Our mission is protecting consumers and competition by preventing anticompetitive, deceptive, and unfair business practices through law enforcement, advocacy, and education without unduly burdening legitimate business activity. Founded: in 1999 by Dr. Chip Cannon, DVM Following a public comment period, the Federal Trade Commission has approved a final order settling charges that Compassion Firsts proposed $5 billion acquisition of National Veterinary Associates, or NVA, would violate federal antitrust law. This explains the staggering number of locations the group owns.) Practice eligibility criteria: Forward-thinking independent practices generating more than $1M in gross revenues. Dr. Annie Bowes operates a clinic in Post Falls, Idaho, a 20- to 40-minute drive from Spokane, depending on traffic. Buys in: the above-mentioned states, as well as Arkansas, Indiana, Delaware, Ohio, Missouri, Oklahoma, West Virginia, and Washington DC MedVet considers every partnership opportunity individually. The following narrative is based upon interviews with Spokane-area veterinarians, some of whom are PEC shareholders; and an email received by PEC shareholders and obtained by the VIN News Service. Contact Information Website www.nva.com Ownership Status Acquired/Merged (Operating Subsidiary) Financing Status Private Equity-Backed Primary Industry Other Services (B2C Non-Financial) Buys in: North Carolina Chief Executive Officer. Practice eligibility criteria: Ownership agreement: 100 percent sale with an opportunity to continue practising. Founded:in 1996 by brothers Neil and Darryl Shaw, DVM, DACVIM. Oops! It just happen to not be the right fit for me. Except for VCA, this huge veterinary group also took ownership of Banfield (2007), Blue Pearl Veterinary Partners (2015), followed by smaller vet groups in Britain, Continental Europe, Brazil, and even China. By continuing to use this website, you agree to UniCourts General Disclaimer, Terms of Service, ), Assistance in all stages of an employees journey, from recruitment to career development and continuing education, Premises maintenance (leasing, building, repairs, and equipment upgrades), Full support in digital marketing, training, and implementation of innovative technologies, Empowerment of veterinarians to make care decisions for each pet personally at the localhospital level, Opportunities for high-performing associates and practices managers to invest in the community they are helping to grow, allowing them to reap a reward for their commitment; over 100 veterinarian and PM investors to date, From our vetFWD mentorship program to Paid Parental Leave and free 24-hour, 365-day-ayear mental health support, care for our team members goes beyond the essentials, Fully staffed business support center designed to take the operational pressure off the practice so they can focus on delivering excellent care, Reputable practices with a loyal following, Facilities run by vets and staff with a passion for pet care, Support in compliance with the highest standards of medicine, Handling business administration services and letting the local teams focus on premium pet care, Retention and strengthening of a hospitals unique culture, brand, and managerial style. Divestitures will help preserve current competition, and the prior notice and approval requirements will allow the FTC to keep a close watch on these markets moving forward.. All of these markets are highly concentrated, and the acquisition would substantially increase concentration in each market, leaving the combined firm as the only provider in some markets, and one of only two providers in other markets. Our mission is protecting consumers and competition by preventing anticompetitive, deceptive, and unfair business practices through law enforcement, advocacy, and education without unduly burdening legitimate business activity. Ownership status: funded by Warburg Pincus and Talisman Capital National Veterinary Associates is a provider of veterinary and pet care services for hospitals and communities. Founded: in 1997 by a private investment group. Handling back-office finance and accounting such as accounts payable, payroll, tax, financial reports, etc. They were paid based on production, and as demand was strong and fees rose, so did their wages. Business support offered: Website: https://www.thrivepetcare.com/ Founded: in 2002 by Fred Goldsmith Number of hospitals: 22 (+1 since January 2022; primary and preventive pet care locations) in the Greater Phoenix, Arizona area It was a harsh requirement, given the restrictionincluded most of metropolitan Spokane and would remain in effect for five years after the veterinarians left PEC. Buys in: South and Southeast United States Buys in: nationwide (both urban and suburban) Robust IT, marketing, accounting, HR, recruiting, and other administrative functions. Ownership agreement: part-ownership model for veterinarians Business support offered: Website: https://heartlandvetpartners.com/ Founded: in 2016 by George Robinson, DVM Ownership status: acquired by Align Capital Partners in 2020 } 1996. Spot the latest COVID scams, get compliance guidance, and stay up to date on FTC actions during the pandemic. Business support offered: Website: https://heartandpaw.com/ Number of hospitals: 25 across 8 states Federal government websites often end in .gov or .mil. 2020-02-24, Los Angeles County Superior Courts | Labor | Founded: in 1999 Practice eligibility criteria: Ownership agreement: 100 percent sale, with stocks in Pathway for practice owners Email & Phone Finder >>. Just two years ago, the FTC ordered divestitures to remedy another illegal acquisition by JAB the $5 billion purchase of NVA. For more information, visit www.ethosvet.com . Practical tools to support dental health. Selling to a big veterinarian group gives them substantial profit and (sometimes) freedom to keep doing what they love most pet care. Looking for legal documents or records? Memo from Chair Lina M. Khan to commission staff and commissioners regarding the vision and priorities for the FTC. Equipment upgrade and facilitated inventory management with Cubex units, Assistance with AAHA accreditation and Fear Free certification, No less than three full-time equivalent veterinarians (DVM), Shared values such as people before profits, accountability, honesty, and continuous improvement, Centralized finance and accounting (payables, payroll, etc. Apply to Veterinary Receptionist, Kennel Technician, Kennel Assistant and more! Today, this conglomerate is considered the biggest buyer in the veterinary segment nationally and overseas. Ownership status: employee-owned and veterinarianled. MEDIA CONTACT:Betsy LordanOffice of Public Affairs202-326-3707, STAFF CONTACT:Michael BarnettBureau of Competition202-326-2362, Stephanie T. Nguyen, Chief Technology Officer, Competition and Consumer Protection Guidance Documents, HSR threshold adjustments and reportability for 2023, A Century of Technological Evolution at the Federal Trade Commission, National Consumer Protection Week 2023 Begins Sunday, March 5, FTC at the 65th Annual Heard Museum Guild Indian Fair & Market - NCPW 2023, FTC alleges that, as proposed, the acquisition would harm competition, Agnaten SE, Compassion First, and NVA, In the Matter of, Agnaten SE, Compassion First and NVA; Analysis of Agreement Containing Consent Orders To Aid Public Comment, Competition in the Health Care Marketplace. Practice eligibility criteria: shared core values (teamwork, top-notch vet service standards, integrity, and innovation) 800-815-6600. Nearing retirement, one emergency doctor decided to stay with the practice for another year or two. Each invested $2,000, the equivalent of $2 a share, with little expectation the emergency clinic would ever make a lot of money. The shareholders who owned 1,000 shares, the maximum allowable number for one individual under PEC bylaws, had the potential to sell their respective stakes for $900,000. Public Records Policy. The Commission vote to issue the complaint and accept the proposed order for public comment was 5-0. 3. 06.18.2019. Buys in: nationwide National Veterinary Associates Engaged Employer Overview 472 Reviews 2.7K Jobs 347 Salaries 59 Interviews 142 Benefits 15 Photos 207 Diversity + Add a Review National Veterinary Associates Reviews Updated Feb 23, 2023 Find Reviews Clear All Full-time, Part-time English Filter Found 459 of over 472 reviews Sort Popular Popular COVID-19 Related National Veterinary Associates Inc., a leading animal health chain owned by German consumer goods giant JAB Holding Co., was hit with a federal antitrust lawsuit in Spokane, Wash., on Monday over its alleged scheme to corner the regional market through noncompete and referral agreements tied to its acquisition of a veterinary hospital. Last October, for example, Massachusetts began limiting noncompetes to one year and prohibiting employers from enforcing noncompete agreements against employees who have been fired or laid off. Buys in: states in the Eastern half of the United States FTC Acts to Protect Pet Owners from Private Equity Firm's Still, most of the staff and managers are easy to get along with. PetSmart Charities is a nonprofit organization supporting pets and those who love them. DocketDispositions: Judgment for Defendant; (Judicial Officer: Curnutt, Mary Tom) ; Judgment; Awarded To: NATIONAL VETERINARY ASSOCIATES INC; Awarded Against: DAVID BELLAH, DocketOrder Denying Motion for Summary Disposition Entered, DocketComments: SUMMARY DISPOSITION WAS NOT SWORN WITH AN AFFIDAVIT, DocketMotions Hearing: (1:00 PM) (Judicial Officer Curnutt, Mary Tom) : Result: Denied, DocketNon-Jury Trial: (1:00 PM) (Judicial Officer Curnutt, Mary Tom) : Result: Judgment, DocketZoom Hearing Scheduled: EMAILED TO ALL PARTIES, DocketComments: PER JUDGE - NON-JURY TRIAL WILL BE SET BY ZOOM FOR ALL PARTIES 7/28/21, DocketMotion Filed: Motion for Summary Dispositiioon -, DocketDefendant Contacted Court: SENT EMAILED REGARDING NON-JURY TRIAL, DocketCANCELED: Clerk Follow Up/3 Months; (8:00 AM) () ; Other, DocketCANCELED: Clerk Follow up/ Answer Due; (8:00 AM) () ; Other, DocketAnswer Filed: DEFENDANT S ORIGINAL ANSWER TO PLAINTIFF S ORIGINAL PETITION, DocketProcess Service Fee Charge (Indirect Fee Added), DocketCITATION: MAILED TO SACRAMENTO COUNTY CIVIL BUREAU; NATIONAL VETERINARY ASSOCIATES INC: Served: 12/09/2020; Returned: 12/21/2020, FinancialCounter Payment: Receipt # JP2-2020-04196: BELLAH, DAVID: (46.00), FinancialFinancial Information: Plaintiff BELLAH, DAVID; Total Financial Assessment: 46.00; Total Payments and Credits: 46.00; Balance Due: 0.00.
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