VCA announces merger with Healthy Pet
Los Angeles, Calif. - 5/15/07 - VCA Antech, Inc., a leading animal healthcare company, announced they will acquire Healthy Pet, which operates 44 animal hospitals, for $152.9 million. On completion of the merger, the combined companies will operate more than 430 animal hospitals in 38 states.
Los Angeles, Calif. - 5/15/07 - VCA Antech, Inc., a leading animal healthcare company, announced they will acquire Healthy Pet, which operates 44 animal hospitals, for $152.9 million. On completion of the merger, the combined companies will operate more than 430 animal hospitals in 38 states.
The merger agreement was unanimously approved by both the VCA and Healthy Pet board of directors and is expected to go forward in June.
"We believe that the combination of VCA Antech, Inc. and Healthy Pet provides a great strategic fit and an opportunity to expand in certain states, particularly Massachusetts, Connecticut, Virginia and Georgia. Healthy Pet also operates several specialty and teaching facilities that will help support our focus on continuing education in the Northeast," says Bob Antin, VCA chairman and CEO.
He estimates animal hospital acquired revenue for 2007, exclusive to the Healthy Pet acquisition, will be upwards of $55 million.
VCA owns, operates and manages the largest networks of freestanding veterinary hospitals and veterinary-exclusive clinical laboratories in the country and supplies diagnostic imaging equipment to the veterinary industry.
