• Hero Banner
  • ACVCACVC
  • DVM 360
  • Fetch DVM 360Fetch DVM 360
DVM 360
dvm360 | Veterinary News, Veterinarian Insights, Medicine, Pet Care
dvm360 | Veterinary News, Veterinarian Insights, Medicine, Pet Care
By Role
AssociatesOwnersPractice ManagerStudentsTechnicians
Subscriptions
dvm360 Newsletterdvm360 Magazine
News
All News
Association
Breaking News
Education
Equine
FDA
Law & Ethics
Market Trends
Medical
Products
Recalls
Regulatory
Digital Media
dvm360 LIVE!™
Expert Interviews
The Vet Blast Podcast
Medical World News
Pet Connections
The Dilemma Live
Vet Perspectives™
Weekly Newscast
dvm360 Insights™
Publications
All Publications
dvm360
Firstline
Supplements
Top Recommended Veterinary Products
Vetted
Clinical
All Clinical
Anesthesia
Animal Welfare
Behavior
Cardiology
CBD in Pets
Dentistry
Dermatology
Diabetes
Emergency & Critical Care
Endocrinology
Equine Medicine
Exotic Animal Medicine
Feline Medicine
Gastroenterology
Imaging
Infectious Diseases
Integrative Medicine
Nutrition
Oncology
Ophthalmology
Orthopedics
Pain Management
Parasitology
Pharmacy
Surgery
Toxicology
Urology & Nephrology
Virtual Care
Business
All Business
Business & Personal Finance
Buying or Selling a Practice
Hospital Design
Leadership & Personal Growth
Personnel Management
Practice Finances
Practice Operations
Technology
Wellbeing & Lifestyle
Continuing Education
Conferences
Live Conferences
Conference News
Conference Proceedings
Resources
CBD in Pets
Contests
Veterinary Heroes
Partners
Spotlight Series
Team Meeting in a Box
Toolkit
Top Recommended Veterinary Products
Vet to Vet
  • Contact Us
  • Fetch DVM360 Conference
  • Terms and Conditions
  • Privacy
  • Do Not Sell My Information
  • About Us

© 2023 MJH Life Sciences and dvm360 | Veterinary News, Veterinarian Insights, Medicine, Pet Care. All rights reserved.

Advertisement
By Role
  • Associates
  • Owners
  • Practice Manager
  • Students
  • Technicians
Subscriptions
  • dvm360 Newsletter
  • dvm360 Magazine
  • Contact Us
  • Fetch DVM360 Conference
  • Terms and Conditions
  • Privacy
  • Do Not Sell My Information
  • About Us
  • MJHLS Brand Logo

© 2023 MJH Life Sciences™ and dvm360 | Veterinary News, Veterinarian Insights, Medicine, Pet Care. All rights reserved.

Mars announces acquisition of Heska

April 3, 2023
dvm360 Staff

Acquisition will enable science & diagnostics division of Mars Petcare to extend its diagnostic offerings

Mars, Incorporated and Heska Corporation have entered into a definitive agreement enabling Mars to acquire Heska, a global provider of advanced veterinary diagnostic and specialty products for $120.00 per share.1 As of March 31, 2023, transaction price represents a premium of about 38% over Heska's 60-calendar day volume weighted average price and a premium of about 23% over Heska's closing stock price. The agreement has been unanimously approved by the boards of directors of both entities.

Upon transaction close, Heska will join Mars Petcare, a purpose-driven global business serving pets and pet parents through products and services within veterinary health and diagnostics, nutrition, innovation, and technology. This acquisition will allow the science & diagnostics division of Mars Petcare, which currently includes Antech Diagnostics, to extend its diagnostic offerings and broadly promote point-of-care veterinary diagnostics to the global pet healthcare community.

"We look forward to welcoming Heska to Science & Diagnostics as we share the belief that diagnostic innovation is a critical enabler to providing transformative veterinary care,” stated Nefertiti Greene, president, Mars Petcare, science & diagnostics, in the release.1 "This transaction will bring together highly complementary businesses with a strong strategic and cultural fit that furthers our purpose to create A BETTER WORLD FOR PETS. This comprehensive diagnostic offering will mean broader coverage across diagnostic products, services, and technology, and will accelerate R&D for novel solutions."

Kevin Wilson, CEO & president of Heska, added "Today's announcement is a great testament to the quality of our Heska family - we are small, but our people and their creativity, execution, expertise, and value-creation have made us exceptional. We are thrilled to join Mars Petcare on its quest to build A BETTER WORLD FOR PETS. Working together, Heska's innovations will more quickly reach more veterinarians to help more pet families live better, healthier, longer lives. That's been our mission for over a decade and today is an incredible milestone towards realizing it."

The transaction consists of customary closing conditions, including Heska shareholders' and regulatory approvals, and is anticipated to close in the second half of 2023.

Advertisement

Lazard served as the financial advisor for Mars, and Skadden, Arps, Slate, Meagher & Flom LLP acted as Mars' legal advisor. BofA Securities, Inc and Piper Sandler & Co served as Heska's financial advisors, and Gibson, Dunn & Crutcher LLP acted as Heska's legal advisor.

Reference

Mars to acquire Heska, global provider of advanced veterinary diagnostic and specialty solutions. News release. Heska Corporation. April 3, 2023. Accessed April 3, 2023. https://www.prnewswire.com/news-releases/mars-to-acquire-heska-global-provider-of-advanced-veterinary-diagnostic-and-specialty-solutions-301787960.html

Related Content:

Business
CityVet names new chief strategy officer
CityVet names new chief strategy officer
Hannah Pet Hospital names new CEO
Hannah Pet Hospital names new CEO
CityVet Celina opens in Prosper, Texas
CityVet Celina opens in Prosper, Texas

Advertisement

Latest News

Novel vaccine on the market for viruses in pigs

3 Must-reads for World Oceans Day

Research reveals efficacy of non-surgical contraceptive alternative for cats

Potential blood transfusion may offer lion chance of survival

View More Latest News
Advertisement