LOS ANGELES–(BUSINESS WIRE)–VCA Inc. (NASDAQ: WOOF), a leading national healthcare company in
the United States and Canada, today announced that Henry Schein, Inc.
(NASDAQ: HSIC), the world’s largest provider of health care products and
services to office-based dental, animal health and medical
practitioners, will acquire a majority interest in VCA’s subsidiary
Vetstreet, Inc., a leading software as a service (SaaS) provider of
marketing solutions and health information analytics to veterinary
practices and animal health product manufacturers.
Following the closing of the transaction Henry Schein Animal Health, the
U.S. animal health business of Henry Schein, Inc., will own 80.1 percent
of Vetstreet, with the remaining interest owned by VCA. Financial
details and terms of the transaction were not disclosed.
Bob Antin, Chairman and CEO, VCA Inc., stated, “We are pleased that
through this partnership with Henry Schein, Vetstreet will gain added
support to grow its products and services and help veterinarians better
connect with their pet owner clients. Vetstreet’s services create a
continuity of communication with pet owners that builds customer loyalty
and improves care through compliance. Strengthening the bonds between
veterinarians and their clients has always been a primary goal of VCA.
Vetstreet will greatly benefit from Henry Schein’s understanding of the
marketing and communication needs of veterinarians and their clients,
while allowing VCA to focus on our core competencies in veterinary
hospitals, clinical laboratories, diagnostic imaging technology, and
related services in the veterinary industry.”
The transaction is expected to close in the first quarter of 2016 and
VCA anticipates that it will record a gain of $30 million to $35
million, subject to transaction costs. In addition, by reinvesting the
proceeds of the sale in animal hospital acquisitions and share
repurchases, the impact of this divestiture is expected to have an
immaterial impact upon the Company’s 2016 operating results.
About VCA Inc.
VCA owns, operates and manages the largest
network of freestanding veterinary hospitals and veterinary-exclusive
clinical laboratories in the country. Additionally, VCA provides online
communication, professional education and marketing solutions, as well
as diagnostic imaging equipment to the veterinary community. For further
information about VCA, visit www.vca.com.
Tomas Fuller, Chief Financial Officer