The acquisition of IVESCO Holdings by MWI Veterinary Supply (MWIV) at the end of August was largely overlooked by the market. It shouldn't have been. The purchase propels MWI into a dominant market position.
MWI Veterinary Supply distributes animal healthcare products to veterinarians in the United States and in the United Kingdom. As well, a portion of IVESCO Holdings' revenue was derived from the same source. However, IVESCO's reach functionally extends well beyond the vet's office. And, in that reach, MWI just snatched significant market share regarding animal health.
The animal health industry is typically addressed in two segments - production animals and companion animals. The production animal segment consists of cattle, swine, poultry and other...