Henry Schein of Melville, N.Y., has completed the acquisition of Provet Holdings Ltd., a full-service veterinary distributor and service provider.
The acquisition marks Henry Schein’s entry into the Australasia veterinary market.
The Brisbane, Queensland-based company, which reported revenue of about $278 million for fiscal year ended June 30, 2010, operates four core businesses: veterinary product wholesaling; sales, support and development of practice management software; consulting, education and training services; and online business activities.
Provet Holdings owns and operates 10 warehouses across Australia and three in New Zealand. About 1,900 independent veterinary practices in Australasia are served by the company.
“Henry Schein’s global veterinary business now has annual revenue of nearly $2 billion and we serve approximately 47,000 veterinary practices worldwide,” said Stanley Bergman, chairman and CEO of Henry Schein, who first announced the acquisition agreement in mid October. “The rapid growth of Henry Schein’s worldwide animal health presence reflects our long-term commitment to our veterinary customers and our firm belief in the significant potential of the global health market.”
Bergman also welcomed Provet CEO Dr. Nigel Nichols and his colleagues to Henry Schein.