Mar. 20, 2015, 11:22 AM
- VCA's (WOOF +0.7%) laboratory division, Antech Diagnostics, acquires the assets of AVRL (Abaxis Veterinary Reference Laboratory) from Abaxis (ABAX +1.4%) for $21M in cash. Abaxis will take a pre-tax charge of $10M - 12M this quarter for the transaction, expected to close by end of the month.
- The deal will enable Abaxis to increase its focus on its core products and bolster its co-marketing relationship with Antech Diagnostics. Sales representatives from both firms will continue to work together to market a complete diagnostic solution consisting of Abaxis' point-of-care products and Antech Diagnostics' reference lab services.