Mars, Incorporated (Mars) and Heska Corporation (Heska) announced that they have entered into a definitive agreement under which Mars will acquire Heska, a global provider of advanced veterinary diagnostics and specialty products, for $120.00 per stock.
Upon closing of the transaction, Heska will merge with Mars Petcare, a global company that serves companion animals and their owners through products and services related to veterinary care and diagnostics, nutrition, innovation and technology, a statement said.
With this acquisition, Mars Petcare’s science and diagnostics division will not only be able to expand its diagnostic offerings, but also broadly promote point-of-care veterinary diagnostics to the global pet health community.
Nefertiti Greene, President of Mars Petcare’s Science and Diagnostics Division , said, “We look forward to welcoming Heska to our Science and Diagnostics Division, as our two teams share a belief that innovation in diagnosis is essential to providing transformative veterinary care. Ms. Greene added, “This transaction will bring together highly complementary businesses, and their strong strategic and cultural fit will advance our goal of A BETTER WORLD FOR PETS™. This comprehensive diagnostic offering will expand our range of diagnostic products, services and technologies, while accelerating our R&D efforts to discover new solutions. »
Kevin Wilson, President and CEO of Heska, said: “Today’s announcement is a testament to the quality of the Heska family which, despite its small size, has become a leading organization thanks to its people, as well as the creativity, rigor, its expertise and value creation. We are thrilled to join Mars Petcare in their quest to A BETTER WORLD FOR PETS™. Through the business combination, we will deliver Heska’s innovations faster to more veterinarians, so they can help more pet families live better, healthier and longer lives. We have been pursuing this mission for more than a decade, and today’s agreement today represents a big step towards its realization. »
The science and diagnostics division includes the global veterinary diagnostics business Antech Diagnostics (“Antech”). For more than 35 years, Antech has provided veterinarians with innovative technologies and solutions, backed by scientific rigor and data-driven insights. Antech’s business portfolio includes reference laboratories, veterinary imaging and training solutions, telemedicine services, as well as certified specialist support services offered through Antech Imaging Services (AIS) .
Founded in 1988, Heska sells, manufactures, markets and supports diagnostic and specialty solutions for veterinarians. Since its inception, Heska has been committed to improving the lives of its veterinary customers, their animal-patients and pet owners worldwide through its point-of-care diagnostics and informatics platform. By focusing its investments on technology, research and development, and building strategic partnerships with world leaders in diagnostics and treatments, Heska seeks to bring the benefits of breakthrough innovations to veterinary care providers by North America and overseas including Germany, Italy, Spain, France, Switzerland, Australia and Malaysia.
The transaction is subject to customary closing conditions, including Heska shareholder approval and regulatory approvals, and is expected to close in the second half of 2023.
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