Los Angeles — VCA Antech Inc. purchased Pet's Choice Inc., gaining 46 animal hospitals and about 1,000 new employees.
LOS ANGELES — VCA Antech Inc. purchased Pet's Choice Inc., gaining 46 animal hospitals and about 1,000 new employees.
VCA will assume Pet's Choice's debts as part of the deal, and the $60-million price tag will be paid in cash, according to company officials.
VCA Antech Inc. now boasts of 365 hospitals in 37 states. VCA's Veterinary Care Animal Hospital is located in Albuquerque, New Mexico.
"We have had a close relationship with Pet's Choice over the years, and I think it was a sensible acquisition," says Tom Fuller, VCA's vice president chief financial officer. "We wanted to expand our company, and Pet's Choice has the type of people and operation that VCA wants."
VCA plans to close Pet's Choice's corporate offices but says they will offer positions to most of those employees.
"The Pet's Choice corporate office is in Seattle, so if employees are willing to relocate, some will have that option," Fuller adds.
Pet's Choice gained $60 million from investors since its inception in 1996. Once the purchase is finalized, VCA will own 365 hospitals in 37 states.
"The most valuable asset of the hospital is their people, and they are hard to replace, so they will be keeping their jobs," Tom Fuller says.
The Pet's Choice purchase is expected to be finalized this month.
The regional management structure is not impacted by the acquisition.
"This acquisition means we will be able to reach more clients and gain the knowledge and expertise of the Pet's Choice staff," Fuller adds.
For staff in the hospitals, nothing really changes; some corporate employees will have about three months to find other positions.
"The acquisition will grow our hospital base, providing VCA hospitals with good locations and give us an even stronger stance in many communities," Fuller says.