Covetrus plans to acquire California veterinary tech company

Covetrus Inc. (Nasdaq: CVET), the animal-health company based in Portland, plans to acquire VCP, a California provider of technology and administrative services for pet wellness plans.

Terms of the purchase agreement were not disclosed in a news release Wednesday. Covetrus expects the deal to close in the third quarter of the year, and said the transaction will not affect the company’s 2021 earnings guidance of $245 million to $255 million.

VCP, operated by H3 Financial Services Inc., of Irvine, Calif., serves roughly 1,000 veterinary practices and supports wellness plans for more than 350,000 pets, according to the release. Read more

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