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

Related Posts

Maine’s life sciences sector growth could outpace other industries

Maine’s $2.3 billion life sciences sector, which employed close to 10,000 people in 2024, will outpace the growth of many other...

13 January 2025

IDEXX gets wiggle room to buy back more shares

IDEXX Laboratories Inc. (Nasdaq: IDXX), a Westbrook-based maker of veterinary diagnostics and software, has the green light from its board of...

10 December 2024

Maine’s first accredited lab for PFAS testing is expanding to meet demand

NORRIDGEWOCK, Maine — This week, the Biden administration moved to prevent dangerous “forever chemicals” from being released onto the market after a less...

6 December 2024