November 1, 2019
Zoetis completes acquisition of vet reference lab Phoenix Lab
Zoetis Inc. announced October 31 the completion of the acquisition of Phoenix Central Laboratory for Veterinarians, Inc. (Phoenix Lab), a full-service veterinary reference laboratory company, after fulfilling all closing requirements.
With the addition of reference laboratory services, Zoetis now can provide more comprehensive diagnostics products and services as an enhanced value to veterinarians in the United States. Financial terms of the transaction are not being disclosed.
Reference laboratories and point-of-care diagnostic testing are highly synergistic, offering veterinarians a single source for a full spectrum of tests, as well as access to the expertise of Board-certified specialists and pathologists to support test results. Phoenix Lab, founded in 1989 and headquartered near Seattle, serves veterinary clinics in 20 states, primarily in the Pacific Northwest, with complete clinical and anatomic pathology testing as well as microbiology, serology, haematology, chemistry, urinalysis and other diagnostic tests for avian, equine and pet health needs.
Kristin Peck, executive vice president and group president, U.S. Operations, Business Development and Strategy for Zoetis, said, "This acquisition is a strong complement to other diagnostic testing capabilities at Zoetis, including VetScan®, WITNESS®, SERELISA® and AlphaTRAK®, and it will help us offer our customers even more comprehensive solutions across the continuum of care to predict, prevent, detect and treat disease in animals."
The global veterinary diagnostics category, which includes reference laboratory and point-of-care diagnostics, is estimated to be US$4 billion, with compound annual growth of about 10% over the past three years. Zoetis expects the diagnostics category to continue to grow faster than the animal health industry, with growth in the mid to high single digits.