Mars to acquire vet player in a bid to expand its diagnostic offering
Colorado-based firm Heska will join Mars’ pet division once the deal is sealed later in the year.
Mars Petcare will acquire Heska, a global veterinary diagnostic and specialty product provider, for $120 (€109) per share.
Through the acquisition, the multinational aims to expand its diagnostic offerings and promote point-of-care veterinary diagnostics through its Science & Diagnostics division to the global pet healthcare community.
Heska is set to join Mars in all verticals across veterinary health and diagnostics, nutrition, innovation, and technology.
“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,” said Nefertiti Greene, President at Mars Petcare, Science & Diagnostics.
The transaction, which is still pending regulatory approval, is expected to close in the second half of 2023.