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Veterinary Blood Lactate Test Meter Equipment Market is Estimated to Witness High Growth Owing to Increasing Demand
The veterinary blood lactate test meter equipment market is used to provide advanced veterinary healthcare. These meters help measure blood lactate levels in animals to understand their overall health and fitness levels. The lactate meter consists of a test strip, meter, and test cartridges to easily obtain blood samples from animals like dogs, cats, horses and livestock. It is a fast and affordable tool for veterinarians to monitor lactate levels during surgeries or intense physical activities.
The Global Veterinary Blood Lactate Test Meter Equipment Market is estimated to be valued at USD 140.10 Mn in 2024 and is expected to reach USD 201.05 Mn by 2031, exhibiting a compound annual growth rate (CAGR) of 5.3% from 2024 to 2031.
Key Takeaways Key players operating in the veterinary blood lactate test meter equipment are Woodley Equipment, EKF Diagnostics, VETMAX, Nova Biomedical, Abaxis, Heska Corporation, IDEXX Laboratories, Randox Laboratories, Zoetis, Scil Animal Care Company, ARKRAY, Inc., DVMetrics, Boehringer Ingelheim, Thermo Fisher Scientific, MediLynx, BioCare Copenhagen, Medtronic, VetLab, Quicklab Services, and VetTest. The key opportunities in the Veterinary Blood Lactate Test Meter Equipment Market Size include rising awareness about pet health and disease diagnosis. Animals require proper healthcare which is boosting demand for lactate meters. Advancement of technology is also allowing portable Bluetooth enabled meters for easy monitoring. With growing animal adoption and rise of companion animals globally, the demand for veterinary healthcare products is expanding across regions. The large animal market in Asia Pacific and Latin America offers immense opportunity for players. North America and Europe currently dominate the veterinary blood lactate test meter equipment market owing to high pet ownership and availability of advanced products. Market Drivers Growing demand for Veterinary Blood Lactate Test Meter Equipment Companies. Lactate measurement helps veterinarians assess animal fitness levels and injuries during training routines. It is useful for equestrian competitions and canine sports events. Rising incidence of obesity in pets is also boosting the market as lactate levels indicate overall health. The increasing number of veterinary practices and hospitals globally is supporting market growth over the forecast period.
PEST Analysis Political: Veterinary healthcare policies aim to regulate product standards and quality. Manufacturers must comply with guidelines for product safety and efficacy. Economic: Rising pet healthcare spending boosts demand for diagnostic tools. Veterinarians increasingly invest in advanced equipment for accurate diagnosis. Social: Pet humanization trend drives closer bonds and more investment in pet wellness. Owners seek quality care matching standards for humans. Technological: Equipment integrates wireless connectivity and cloud computing. Biosignal data help vets monitor patient health trends and flag abnormalities remotely. Continuous sensor developments enhance convenience and compliance. Around 60% of the global market value is concentrated in North America and Western Europe due to higher disposable incomes and pet healthcare budgets in these regions. Advance medical infrastructure and growing veterinary services industry also support market growth. The Asia Pacific region is projected to be the fastest growing market during the forecast period owing to rising pet adoption, increasing awareness about animal health, and improving veterinary facilities in developing countries of the region.
Get more insights on Veterinary Blood Lactate Test Meter Equipment Market
Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights.
(LinkedIn: www.linkedin.com/in/alice-mutum-3b247b137 )
#Coherent Market Insights#Veterinary Blood Lactate Test Meter Equipment Market#Veterinary Blood Lactate Test Meter Equipment#Blood Lactate Meter#Lactate Test#Animal Health Diagnostics#Portable Lactate Meter#Veterinary Diagnostics#Blood Lactate Testing
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How to Dock the Tails of a Litter of Cocker Spaniel Puppies
How to Dock the Tails of a Litter of Cocker Spaniel Puppies
I had the job of docking the tails of a litter of puppies, and the only reason I did this, was because I wanted to know how to do it myself, since I figure I should know as much about my dogs as I can, and I knew a veterinarian was going to do this, and they do charge money for this, and I wanted to know how to do this myself. Well, lucky enough for me, I know a lady, that breeds dogs, and she…
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Can Dogs Get COVID-19? A Reality Check for Pet Parents
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Your dogs may be the last ones to fully grasp the concept of social distancing. In this crazy time, where a little love from a pet can go a long way, dog owners probably wouldn’t have it any other way.
But with the daily onslaught of new information about the novel coronavirus—including reports that two dogs in Hong Kong tested positive for the virus—dog owners might be wondering if their four-legged friends are also at risk. Can dogs get COVID-19?
Currently, the Centers for Disease Control and Prevention has not received any reports of dogs or other animals becoming sick with COVID-19 in the United States.
While the situation is still being evaluated, all major health organizations, including the CDC and the World Health Organization, have stated that there is no evidence at present that companion animals, including pets, can spread COVID-19 or that they might be a source of infection in the United States.
There is no evidence that dogs have infected any people,” says Dr. William Karesh, a wildlife vet and executive vice president for health and policy for EcoHealth Alliance in New York.
“It would be prudent, though, not to let dogs lick infected people, and dogs in households with infected people should also maintain social distance from other dogs and people, just as the human members of the household are urged to do.”
Here are some other points to keep in mind to help your pet keep living its best quarantine life.
How to protect your pup
Keeping healthy and virus-free should extend to your pets, too. So practice good hygiene when handling your dog. That means no kissing!
The American Veterinarian Medical Association recommends washing your hands before and after interacting with a pet; keeping the pet well-groomed; and regularly cleaning the pet’s food and water bowls, bedding material, and toys.
The CDC and AVMA advise those already sick with COVID-19 to limit contact with animals out of an abundance of caution, until more is known about the virus. They recommend having another person in the household care for the pets or, if that’s not possible, continuing to practice good hygiene when interacting with pets and wear a face mask.
Respiratory illness and your dog
Even if your dogs can’t get COVID-19, they could come down with another kind of respiratory disease, although their symptoms might be different from anything humans might experience.
“If your dog has respiratory disease, it will most likely be due to a number of common viral and bacterial diseases in dogs. Owners should contact their veterinarian to discuss the case and decide on a treatment plan,” says Karesh.
So, can dogs catch the coronavirus? A definitive answer might be near. IDEXX Laboratories, a global network of more than 80 diagnostic labs, recently announced a SARS-CoV-2 (another name for COVID-19) test for animals.
To date, the company has analyzed more than 4,500 cat and dog samples and found no cases of the virus.
“We wanted to make the public aware that if there becomes a medical need and/or clinically relevant reason pets should be tested for the virus, there is an accurate option that could be made available,” says Dr. Jim Blacka, a veterinarian with IDEXX’s Companion Animal Commercial Business.
Maintain essential vet visits
While pets are currently presumed not to be at risk of contracting or transmitting COVID-19, that doesn’t mean they won’t have other health issues. Vets have been deemed as providing essential services, and many offer telemedicine and the occasional house visit.
Best Friends Animal Society is offering free veterinary consultations to those unable to leave their house due to the quarantine or to safety concerns, through the Best Friends Vet Access app for your phone or tablet.
The app allows users to connect with a licensed veterinarian by phone or video call. You can also text a vet with quick questions.
The app can be downloaded from the Apple App Store or Google Play Store, and is free for 30 days with the code BFHELPS. Users will have to enter a credit card number. However, if they delete the account before the 30 days expires, they will not be charged the $12.99 monthly fee.
The post Can Dogs Get COVID-19? A Reality Check for Pet Parents appeared first on Real Estate News & Insights | realtor.com®.
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Learn to be a great business mentor and coach
New Post has been published on https://personalcoachingcenter.com/learn-to-be-a-great-business-mentor-and-coach/
Learn to be a great business mentor and coach
Business mentoring – What is it that makes some groups obviously more successful and more productive than others?
Well, that’s the question a team at MIT took to research. They brought in hundreds of volunteers, they put them into groups, and they gave them very hard problems to solve.
And what happened was exactly what you’d expect, that some groups were very much more successful than others, but what was really interesting was that the high-achieving groups were not those where they had one or two people with spectacularly high IQ.
Nor were the most successful groups the ones that had the highest aggregate I.Q. Instead, they had three characteristics, the really successful teams. First of all, they showed high degrees of social sensitivity to each other.
This is measured by something called the Reading the Mind in the Eyes Test. It’s broadly considered a test for empathy, and the groups that scored highly on this did better. Secondly, the successful groups gave roughly equal time to each other, so that no one voice dominated, but neither were there any passengers.
And thirdly, the more successful groups had more women in them. Now, was this because women typically score more highly on the Reading the Mind in the Eyes Test, so you’re getting a doubling down on the empathy quotient? Or was it because they brought a more diverse perspective? We don’t really know, but the striking thing about this experiment is that it showed what we know, which is some groups do better than others, but what’s key to that is their social connections to each other.
So how does this play out in the real world? Well, it means that what happens between people really counts, because in groups that are highly attuned and sensitive to each other, ideas can flow and grow.
When this happens, people don’t get stuck. They don’t waste energy on dead ends. An example: Arup is one of the world’s most successful engineering firms, and it was commissioned to build the equestrian center for the Beijing Olympics.
Now, this building had to receive two and a half thousand really highly strung thoroughbred horses that were coming off long-haul flights, highly jet-lagged, not feeling their finest. And the problem the engineer confronted was, what quantity of waste to cater for? Now, you don’t get taught this in engineering school and it’s not really the kind of thing you want to get wrong. So he could have spent months talking to vets, doing the research, tweaking the spreadsheet.
Instead, he asked for help and he found someone who had designed the Jockey Club in New York. The problem was solved in less than a day. Arup believes that the culture of helpfulness is central to their success.
Now, helpfulness sounds really anemic, but it’s absolutely core to successful teams, and it routinely outperforms individual intelligence. Helpfulness means I don’t have to know everything, I just have to work among people who are good at getting and giving help.
At SAP, they reckon that you can answer any question in 17 minutes. But there isn’t a single high-tech company I’ve worked with that imagines for a moment that this is a technology issue, because what drives helpfulness is people getting to know each other.
Now that sounds so obvious, and we think it’ll just happen normally, but it doesn’t. When I was running my first software company, I realized that we were getting stuck. There was a lot of friction, but not much else, and I gradually realized the brilliant, creative people that I’d hired didn’t know each other.
They were so focused on their own individual work, they didn’t even know who they were sitting next to, and it was only when I insisted that we stop working and invest time in getting to know each other that we achieved real momentum.
Now, that was 20 years ago, and now I visit companies that have banned coffee cups at desks because they want people to hang out around the coffee machines and talk to each other. The Swedes even have a special term for this.
They call it fika, which means more than a coffee break. It means collective restoration. At Idexx, a company up in Maine, they’ve created vegetable gardens on campus so that people from different parts of the business can work together and get to know the whole business that way.
Have they all gone mad? Quite the opposite — they’ve figured out that when the going gets tough, and it always will get tough if you’re doing breakthrough work that really matters, what people need is social support, and they need to know who to ask for help.
Companies don’t have ideas; only people do. And what motivates people are the bonds and loyalty and trust they develop between each other. What matters is the mortar, not just the bricks. Now, when you put all of this together, what you get is something called social capital.
Social capital is the reliance and inter-dependency that builds trust. The term comes from sociologists who were studying communities that proved particularly resilient in times of stress. Social capital is what gives companies momentum, and social capital is what makes companies robust.
What does this mean in practical terms? It means that time is everything, because social capital compounds with time. So teams that work together longer get better, because it takes time to develop the trust you need for real candor and openness.
And time is what builds value. When Alex Pentland suggested to one company that they synchronize coffee breaks so that people would have time to talk to each other, profits went up 15 million dollars, and employee satisfaction went up 10 percent.
Not a bad return on social capital, which compounds even as you spend it. Now, this isn’t about chumminess, and it’s no charter for slackers, because people who work this way tend to be kind of scratchy, impatient, absolutely determined to think for themselves because that’s what their contribution is.
Conflict is frequent because candor is safe. And that’s how good ideas turn into great ideas, because no idea is born fully formed. It emerges a little bit as a child is born, kind of messy and confused, but full of possibilities.
And it’s only through the generous contribution, faith and challenge that they achieve their potential. And that’s what social capital supports. Now, we aren’t really used to talking about this, about talent, about creativity, in this way.
We’re used to talking about stars. So I started to wonder, well, if we start working this way, does that mean no more stars? So I went and I sat in on the auditions at the Royal Academy of Dramatic Art in London.
And what I saw there really surprised me, because the teachers weren’t looking for individual pyrotechnics. They were looking for what happened between the students, because that’s where the drama is.
And when I talked to producers of hit albums, they said, “Oh sure, we have lots of superstars in music. It’s just, they don’t last very long. It’s the outstanding collaborators who enjoy the long careers, because bringing out the best in others is how they found the best in themselves.
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#best way to find a mentor#business#business advice#business angel#business coach#business contacts#business marketing#business mentor#business mentoring#business mentorship#business plan#business success#find a mentor#find mentor#finding a mentor#get a mentor#how to be a business mentor without a degree#how to become a business mentor without a degree#how to find a mentor#how to find a mentor for your career#how to find a mentor in business#how to get a mentor#mentor#success mentor
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Learn to be a great business mentor and coach
New Post has been published on https://personalcoachingcenter.com/learn-to-be-a-great-business-mentor-and-coach/
Learn to be a great business mentor and coach
Business mentoring – What is it that makes some groups obviously more successful and more productive than others?
Well, that’s the question a team at MIT took to research. They brought in hundreds of volunteers, they put them into groups, and they gave them very hard problems to solve.
And what happened was exactly what you’d expect, that some groups were very much more successful than others, but what was really interesting was that the high-achieving groups were not those where they had one or two people with spectacularly high IQ.
Nor were the most successful groups the ones that had the highest aggregate I.Q. Instead, they had three characteristics, the really successful teams. First of all, they showed high degrees of social sensitivity to each other.
This is measured by something called the Reading the Mind in the Eyes Test. It’s broadly considered a test for empathy, and the groups that scored highly on this did better. Secondly, the successful groups gave roughly equal time to each other, so that no one voice dominated, but neither were there any passengers.
And thirdly, the more successful groups had more women in them. Now, was this because women typically score more highly on the Reading the Mind in the Eyes Test, so you’re getting a doubling down on the empathy quotient? Or was it because they brought a more diverse perspective? We don’t really know, but the striking thing about this experiment is that it showed what we know, which is some groups do better than others, but what’s key to that is their social connections to each other.
So how does this play out in the real world? Well, it means that what happens between people really counts, because in groups that are highly attuned and sensitive to each other, ideas can flow and grow.
When this happens, people don’t get stuck. They don’t waste energy on dead ends. An example: Arup is one of the world’s most successful engineering firms, and it was commissioned to build the equestrian center for the Beijing Olympics.
Now, this building had to receive two and a half thousand really highly strung thoroughbred horses that were coming off long-haul flights, highly jet-lagged, not feeling their finest. And the problem the engineer confronted was, what quantity of waste to cater for? Now, you don’t get taught this in engineering school and it’s not really the kind of thing you want to get wrong. So he could have spent months talking to vets, doing the research, tweaking the spreadsheet.
Instead, he asked for help and he found someone who had designed the Jockey Club in New York. The problem was solved in less than a day. Arup believes that the culture of helpfulness is central to their success.
Now, helpfulness sounds really anemic, but it’s absolutely core to successful teams, and it routinely outperforms individual intelligence. Helpfulness means I don’t have to know everything, I just have to work among people who are good at getting and giving help.
At SAP, they reckon that you can answer any question in 17 minutes. But there isn’t a single high-tech company I’ve worked with that imagines for a moment that this is a technology issue, because what drives helpfulness is people getting to know each other.
Now that sounds so obvious, and we think it’ll just happen normally, but it doesn’t. When I was running my first software company, I realized that we were getting stuck. There was a lot of friction, but not much else, and I gradually realized the brilliant, creative people that I’d hired didn’t know each other.
They were so focused on their own individual work, they didn’t even know who they were sitting next to, and it was only when I insisted that we stop working and invest time in getting to know each other that we achieved real momentum.
Now, that was 20 years ago, and now I visit companies that have banned coffee cups at desks because they want people to hang out around the coffee machines and talk to each other. The Swedes even have a special term for this.
They call it fika, which means more than a coffee break. It means collective restoration. At Idexx, a company up in Maine, they’ve created vegetable gardens on campus so that people from different parts of the business can work together and get to know the whole business that way.
Have they all gone mad? Quite the opposite — they’ve figured out that when the going gets tough, and it always will get tough if you’re doing breakthrough work that really matters, what people need is social support, and they need to know who to ask for help.
Companies don’t have ideas; only people do. And what motivates people are the bonds and loyalty and trust they develop between each other. What matters is the mortar, not just the bricks. Now, when you put all of this together, what you get is something called social capital.
Social capital is the reliance and inter-dependency that builds trust. The term comes from sociologists who were studying communities that proved particularly resilient in times of stress. Social capital is what gives companies momentum, and social capital is what makes companies robust.
What does this mean in practical terms? It means that time is everything, because social capital compounds with time. So teams that work together longer get better, because it takes time to develop the trust you need for real candor and openness.
And time is what builds value. When Alex Pentland suggested to one company that they synchronize coffee breaks so that people would have time to talk to each other, profits went up 15 million dollars, and employee satisfaction went up 10 percent.
Not a bad return on social capital, which compounds even as you spend it. Now, this isn’t about chumminess, and it’s no charter for slackers, because people who work this way tend to be kind of scratchy, impatient, absolutely determined to think for themselves because that’s what their contribution is.
Conflict is frequent because candor is safe. And that’s how good ideas turn into great ideas, because no idea is born fully formed. It emerges a little bit as a child is born, kind of messy and confused, but full of possibilities.
And it’s only through the generous contribution, faith and challenge that they achieve their potential. And that’s what social capital supports. Now, we aren’t really used to talking about this, about talent, about creativity, in this way.
We’re used to talking about stars. So I started to wonder, well, if we start working this way, does that mean no more stars? So I went and I sat in on the auditions at the Royal Academy of Dramatic Art in London.
And what I saw there really surprised me, because the teachers weren’t looking for individual pyrotechnics. They were looking for what happened between the students, because that’s where the drama is.
And when I talked to producers of hit albums, they said, “Oh sure, we have lots of superstars in music. It’s just, they don’t last very long. It’s the outstanding collaborators who enjoy the long careers, because bringing out the best in others is how they found the best in themselves.
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See Original | Powered by elink
#best way to find a mentor#business#business advice#business angel#business coach#business contacts#business marketing#business mentor#business mentoring#business mentorship#business plan#business success#find a mentor#find mentor#finding a mentor#get a mentor#how to be a business mentor without a degree#how to become a business mentor without a degree#how to find a mentor#how to find a mentor for your career#how to find a mentor in business#how to get a mentor#mentor#success mentor#Business Coaching#Business Marketing Coaching
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bond cleaning melbourne
B. A big pet warehouse surrounded by an enormous motor vehicle park and generic Superstores C. Rural out back town with barely anything at all likely for it but a pub D.
; a gorgeous place to the Yarra River minimal much more than half one hour from Melbourne’s CBD. Here Now we have recently moved into a brand new, purpose equipped and inspiring get the job done Area. Please Click the link to check out pics!
Our Animal Clinic is found in Lilydale but we also have a department clinic in Yarra Glen which is open for day by day consultations. Our clinic is open up Monday to Saturday and we also offer an just after-several hours company for both equally smaller and large animal clientele. Nevertheless, we do also utilise the solutions from the AEC for a great deal of just after-several hours operate. The effective applicant might be anticipated to operate a four day week (This really is negotiable) that has a rotating on connect with roster with use of local unexpected emergency clinics and experts. While the majority of the caseload is modest animal and equine function, we also company numerous cattle and little ruminant consumers, the two in output and pastime farms.
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We are seeking someone who is very motivated, contains a drive to be successful and is planning to develop their veterinary techniques inside a hectic group orientated natural environment. The best applicant could have the Vitality and travel to create an actual variation.
A. Using a cat litter tray for X-ray film processing inside of a concrete basement B. Executing surgery inside a transformed laundry C.
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Does one at any time end up fatigued from late nights or on-simply call operate? Or feel such as you’re lacking out when it comes to range inside your scenario load? Or do you secretly (or not-so-secretly) crave a far more senior position, but don’t hold the room to development?
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bond cleaning melbourne
Our vets experience fulfilled becoming part of GP observe that gives A very diverse caseload throughout compact animals and exotics. This can be complemented by our very engaged consumers that are prepared to assist advised treatment ideas, supplying our Vets the chance to use their expertise and encounter towards the fullest. Our vets especially take pleasure in the commitment and expenditure shown in their particular advancement and growth. They solution the issues of clinic daily life with assurance, figuring out the clinic, professional consultants and higher Our Vet family members are there to assist them with any case in An immediate.
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Final talent is being out there after just about every 2nd or 3rd Saturday (no Sunday perform, we’ve just stopped it, we don’t like it!)
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Would you ever end up exhausted from late evenings or on-connect with work? Or come to feel such as you’re lacking out With regards to diversity in your case load? Or does one secretly (or not-so-secretly) crave a far more senior position, but don’t possess the home to progress?
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Henry Schein to Spin Off and Merge Animal Health Business with Vets First Choice
Many are probably already aware of this fact, but Henry Schein has different divisions that serve different aspects of healthcare. One of them is in the veterinary market. Recently Schein announced that it will be merging its Animal Health business and merge it with Vets First Choice. The resulting new company will be known as Vets First Corp.
Here is all the info that was made available through the US Government’s SEC:
MELVILLE, N.Y., and PORTLAND, ME, April 23, 2018 – Henry Schein, Inc. (Nasdaq: HSIC) and Vets First Choice announced plans today for Henry Schein to spin off its Animal Health business and merge it with Vets First Choice, creating an innovative approach to advancing the delivery of animal health care designed to provide unique benefits to veterinarians, manufacturers, pet owners, and their pets.
The new company, to be called Vets First Corp., will harness insights and analytics to provide pro-active prescription management, and combined with Henry Schein’s leading global animal health solutions, will create a unique animal health service and technology platform dedicated to supporting the veterinary market. By bringing together the power of data analytics, digital communications, practice management software, and supply chain expertise into a multi-channel platform, Vets First Corp. is expected to improve health outcomes for the benefit of pets and their owners, while driving increased demand for products and services for the benefit of veterinary offices and manufacturers.
“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,” said Stanley M. Bergman, Chairman of the Board and Chief Executive Officer, Henry Schein, Inc.
“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,” Mr. Bergman continued. “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 specialists as well as large group practices and ambulatory care sites.”
A New Global Leader in Animal Health
“We are early in the lifecycle of rapid technological change in the animal health market,” said Ben Shaw, Founder and CEO of Vets First Choice, who will become CEO of the new company. “This merger creates an enhanced value chain that connects the veterinarian, the manufacturer, and the pet owner through insights and analytics that will support better clinical and financial outcomes. This new global animal health care company is focused on improving clinical compliance by facilitating the delivery of care how, when, and where the pet owner wants it.”
Vets First Choice, founded in 2010, has quickly become a leading provider of technology-enabled health care services, with a sole focus on animal health. The company is based in Portland, Maine, where the combined company will be headquartered.
Henry Schein Animal Health (HSAH) is the world’s largest and only global supply chain provider of animal health products and related services, with market-leading positions in North America, Europe, and Australia/New Zealand. HSAH has approximately 4,300 team members and active customers include approximately 75% of veterinarians in the U.S., and 70% of veterinarians in Europe and Australia/New Zealand. In addition, more than 50% of U.S. Animal Health practices currently utilize Henry Schein’s practice management software platform to drive office productivity and customer engagement. Vets First Choice has approximately 750 team members in the U.S., and more than 5,100 veterinary practices on its prescription management platform.
Immediately following a spin-off from Henry Schein, HSAH will combine with Vets First Choice to form a new publicly traded company that is expected to provide veterinarians with a powerful new platform to grow their practices, improve client engagement, and drive better health outcomes for pets. This transaction is expected to uniquely position the new company to pursue new revenue opportunities, greater operational efficiency, and accelerated growth, in an attractive end-market.
The company will have combined pro forma 2017 sales of approximately $3.6 billion. HSAH and Vets First Choice expect synergies to grow annually such that in year three, operating income synergies for the combined business will be in excess of $100 million, driven largely by accelerated revenue growth from the adoption of the Vets First Choice platform across the HSAH customer base.
“By combining forces with HSAH, we anticipate accelerating the introduction of new and enhanced programs, services, and technology to veterinary teams so they can deepen their focus on doing the great work of caring for the animals in our lives,” said Mr. Shaw. “Manufacturers will benefit from a global platform to help drive category growth, improved client engagement, and enhanced medication and service compliance. At the same time, team members of the combined company will continue to contribute in a highly collaborative environment with the shared goal of supporting our customers’ success.”
Unlocking Henry Schein Shareholder Value
“For Henry Schein, we believe the transaction benefits our shareholders in two ways,” Mr. Bergman said. “We believe Vets First Corp., as an independent public company focused exclusively on animal health, will be well-positioned to achieve a premium valuation in the market. We believe the transaction positions Henry Schein shareholders to benefit from their investment in a more focused dental and medical growth company.
“Following the spin-off of HSAH as an independent company, Henry Schein will focus on our market-leading dental and medical businesses as we make continued investments for future growth,” Mr. Bergman said. “We are confident in our ability to build upon our track record of delivering solid internal and acquisition growth, as we have over our 23-year history as a public company. We believe our formula of serving the dental and medical markets with innovative products, solutions, and support will position us well to drive increased top and bottom line growth going forward.”
Following the close of the transaction, on a pro forma basis, Henry Schein’s total 2017 revenue for the remaining business will be approximately $9.0 billion with approximately $690 million in GAAP operating income, or $695 million on a non-GAAP basis (see Exhibit A for reconciliation of GAAP operating income and non-GAAP operating income). Henry Schein expects to deliver EPS growth for the remaining consolidated business in the high-single digit to low-double digit range. Henry Schein expects to update full-year earnings guidance for the remaining business once the transaction closes by the end of 2018.
Management and Governance
Henry Schein will nominate six individuals to the board of directors and Vets First Choice will nominate five individuals to the board. Stanley Bergman will serve as a board member of Vets First Corp. and will continue as Henry Schein’s Chairman of the Board and CEO. Henry Schein, Inc. will nominate the Chair of the Governance and Nominating Committee of Vets First Corp., who will also serve as lead director. Ben Shaw, the CEO of Vets First Choice, will become the CEO of Vets First Corp., and David Shaw, Chairman of the Board and Co-Founder of Vets First Choice, as well as Founder of IDEXX Laboratories, Inc., will serve as Chairman of Vets First Corp. The current management of HSAH and Vets First Choice will have senior roles in Vets First Corp.
Transaction Details and Conditions to Close
The transaction is structured as a “Reverse Morris Trust” transaction intended to be tax-free to Henry Schein shareholders for U.S. tax purposes. It is currently expected that shares of Vets First Corp. common stock will be distributed to Henry Schein stockholders in connection with the spin-off of the Henry Schein Animal Health business and to Vets First Choice stockholders in the subsequent merger. In addition, equity incentives held by Henry Schein Animal Health and Vets First Choice employees will be converted into equity incentives in respect of shares of Vets First Corp. and shares of Vets First Corp. may be issued to certain minority holders of Henry Schein Animal Health subsidiaries in exchange for their interests in those subsidiaries. It is expected that Henry Schein shareholders and the aforementioned Henry Schein Animal Health-related parties will own approximately 63% of Vets First Corp. common stock immediately following the transaction, while Vets First Choice investors will own approximately 37% of such stock. The precise ownership percentages are subject to adjustments as set forth in the transaction agreements, but in all cases Henry Schein shareholders will receive a majority of Vets First Corp. shares in the transaction.
Additionally, Henry Schein expects to receive between $1.0 billion and $1.25 billion in cash on a tax-free basis as part of the transaction. Henry Schein plans to use the proceeds for general corporate purposes, including share repurchases, repayment of indebtedness and acquisition opportunities.
The transaction has been unanimously approved by the Boards of Directors of Henry Schein and Vets First Choice, and is expected to close by the end of 2018. It is also subject to customary closing conditions, including customary regulatory approvals, the receipt of tax opinions from counsel with respect to the transaction and the effectiveness of the registration statement on Form S-1/S-4 to be filed with the U.S. Securities and Exchange Commission in connection with the transaction.
Advisors
Centerview Partners is serving as exclusive financial advisor to Henry Schein, Inc., and Cleary Gottlieb and Proskauer Rose are serving as its legal advisors. J.P. Morgan Securities, LLC is serving as exclusive financial advisor to Vets First Choice and Morgan Lewis is serving as its legal advisor.
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