Zoetis strengthens diagnostics services through acquisitionNovember 1, 2019Zoetis has thrown its hat into the ring of reference laboratory services with the acquisition of Phoenix Central Laboratory for Veterinarians.
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Antech acquires Canadian biotech companyOctober 24, 2019Antech Diagnostics has strengthened its laboratory services in Canada with the purchase of Quebec-based biotechnology company, Biovet.
Petplan acquired by equity firmOctober 3, 2019Petplan has been acquired by global private equity firm Warburg Pincus for an undisclosed amount.
Elanco acquires Bayer's animal health division in $7.6-billion dealAugust 20, 2019Following months of speculation, two major industry players have finalized a deal, resulting in the creation of the second-largest animal health company in the world.
Elanco acquires food animal vaccine start-upAugust 13, 2019Elanco Animal Health has purchased Prevtec Microbia, a biotechnology company specializing in the development of vaccines to help prevent bacterial diseases in food animals.
Synchrony acquires Pets Best to expand CareCredit platformMarch 12, 2019Pets Best will now operate under Synchrony's CareCredit to offer pet parents more options to pay for veterinary care. "With Pets Best, we now have unique insight into the fast-growing pet health insurance market and can offer pet owners more choices for their pet's care," says CareCredit CEO, Beto Casellas. "This acquisition will further strengthen our strong veterinary relationships by giving veterinarians the ability to offer comprehensive financial options and a seamless customer experience." Pets Best has more than 125,000 pet health insurance policies, more than one million claims processed, and payouts of $200 million in claims. "CareCredit has unmatched expertise with consumer financing in the veterinary industry, and their digital-first, customer-focused culture perfectly complements our priorities," says Pets Best president, Chris Middleton. "Joining forces with CareCredit, we can quickly scale our offerings and provide a full suite of financing options to our customers, benefiting veterinarians, pet parents, and ultimately pets for the long term." As a result of the acquisition, CareCredit will offer consumers comprehensive care for their pets by merging financing and insurance options.
How veterinary practices can improve client retentionNovember 8, 2018With pet ownership reaching record-highs in the U.S, there’s plenty of opportunity for small veterinary practices to increase revenue. But many practice owners are finding it difficult to compete in an increasingly crowded marketplace.
Zoetis to buy Abaxis for $1.9 billionMay 16, 2018In an effort to gain a greater foothold in the veterinary diagnostics category, Zoetis veterinary drug corporation will acquire Abaxis diagnostic equipment manufacturer in a $1.9 billion deal, which was announced Wednesday. The acquisition is expected to close before the end of the year. According to MarketsandMarkets research firm, the worldwide veterinary diagnostics market is expected grow from $2.3 billion in 2017 to $3.6 billion in 2022. Zoetis, whose diagnostics business accounts for less than 1 percent of its overall annual revenue of $5.3 billion for 2017, seeks to leverage that expanding category. In a statement, the company reported it expects the sector to "continue to grow faster than the animal health industry, with growth in the mid to high single digits, driven by international adoption of point-of-care diagnostic instruments due to rising medicalization rates, increasing standard of veterinary care, and the convenience of in-clinic testing." Abaxis, headquartered in Union City, Calif., reported revenue of $227 million in 2017. The company manufactures chemistry and hematology diagnostic instruments and consumable discs, kits, and cartridges for the animal health industry. It recently launched its VetScan FLEX4 Rapid Test to detect heartworm, Lyme, Ehrlichia, and Anaplasma …
General Mills enters pet food sector with Blue Buffalo acquisitionFebruary 23, 2018Minneapolis-based food conglomerate General Mills is buying Wilton, Conn.-based Blue Buffalo Co., maker of Blue Buffalo pet food, for roughly $8 billion in cash in a deal expected to be completed by May. The acquisition marks General Mills' return to the pet food business. The company produced pet food and sold it through pet stores in the 1930s and marketed food for dogs, cats, and birds in the 1950s. The deal accelerates the General Mills' plan to enhance its growth prospects by diversifying its business through acquisitions and divestitures of brands, said CEO Jeff Harmening. "The acquisition brings back the growth in the U.S. and growth on a consistent basis," he said. Blue Buffalo had annual sales of $1.3 billion in its last fiscal year, Harmening said. The overall pet food market generates $10 billion annually, according to Neilsen. William Bishop Sr. and family founded the company in 2012, and it went public in 2015. General Mills will maintain the company's Connecticut headquarters, and Bishop will remain CEO. The sale has been approved by both company boards, as well as Invus Public Equities, the Bishop family and Blue Buffalo's largest shareholder.
Henry Schein acquires interest in Brazilian veterinary product distributorJanuary 9, 2018Henry Schein Inc. has acquired a 60 percent ownership investment in ABASE, a family-owned distributor of veterinary healthcare products with a strong presence in Sao Paulo, Brazil. Headquartered in Jaguariuna, ABASE sells pharmaceuticals, pet food, diagnostic equipment, and consumables primarily to the companion animal, swine, poultry, and bovine segments. Financial terms were not disclosed. "This ownership investment strengthens our position in Brazil's animal health market, which we established earlier this year in the state of Rio de Janeiro with our investment in Tecnew. It also diversifies our relationship with global suppliers and approximately doubles our vol. "We look forward to leveraging the expertise between Tecnew and ABASE to further advance both businesses and to focus on new opportunities to help veterinarians in Brazil run more efficient, successful practices while providing the highest quality care." ABASE was founded in 1990 by Edison Baba, who will retain a minority ownership position and continue to lead the business as a managing director. The company has approximately 90 employees, including a sales staff of more than 45, and operates a centralized distribution center in Jaguariuna. Henry Schein's Global Animal Health business has operations or affiliates in 24 countries, including the US, Australia, New Zealand, Brazil, Canada, China, Malaysia, …
