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. 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.
Market Pulse transactions shown herein are provided as a matter of public record. These transactions have been compiled from press releases, corporate announcements and other public sources to provide an overview of acquisition and merger activities within the healthcare and life sciences sectors.