Schein to spin out animal health biz in merger with Vets First Choice
Henry Schein (NSDQ:HSIC) said today it plans to spin off its Animal Health business and merge it with Vets First Choice to create a new combined animal health business which will operate under the moniker Vets First Corp.
The new company aims to use advanced data analytics, practice management software and other specialized technology to support animal health, and will combine Henry Schein Animal Health’s approximate 4,300 employees with Vets First Choice’s 750 US employees.
The newly formed business will have pro forma 2017 sales of approximately $3.6 billion, Henry Schein said.
“We are excited about the merger of Henry Schein Animal Health with Vets First Choice. Over the years we have observed the impressive success of Vets First Choice and believe the combined management team is well positioned to capitalize on the significant opportunities created by the merger. We are similarly excited about the significant growth opportunities for Henry Schein’s dental and medical businesses as we implement our 2018-2020 strategic plan. Building upon our long history of reinvention, the company will continue to expand our offering of innovative solutions for our dental and medical customers. We see significant growth opportunities in both the dental and medical markets, such as advancing our position in practice management solutions, including those provided by our new Henry Schein One joint venture, and expanding our penetration with health care practitioners and ...
Source: Mass Device - Category: Medical Devices Authors: Fink Densford Tags: Business/Financial News Mergers & Acquisitions Wall Street Beat Henry Schein Inc. Source Type: news