The addition of three lab locations complements
Zoetis’ growing reference laboratory footprint and enhances its
value to veterinarians in the U.S.
Zoetis Inc. (NYSE:ZTS) today announced the acquisition of Ethos
Diagnostic Science, a veterinary reference lab business dedicated
to serving leading specialty animal hospitals, the greater
veterinary community and researchers with accurate, reliable
results. Having entered the veterinary reference laboratory space
through the acquisitions of both Phoenix Lab and ZNLabs in 2019,
Zoetis continues to grow its diagnostics presence to offer
comprehensive and enhanced value to veterinarians in the U.S.
Financial terms of the transaction are not being disclosed.
Ethos Diagnostic Science is a business unit of Ethos Veterinary
Health and has laboratory locations in Boston, Denver and San
Diego. Its clinical team has decades of combined experience in
veterinary and laboratory medicine and is proud of the strong
client relationships built through comprehensive review of
accurate, reliable results for the best possible patient outcomes.
Ethos Diagnostic Science performs testing for all veterinary
species in hematology, clinical chemistry, urinalysis,
microbiology, parasitology, endocrinology, serology, cytology and
histology. It aims to provide the highest quality results in rapid
turnaround times, while advancing the field of veterinary
diagnostic medicine.
Acquisition Adds to Zoetis’ Growing Presence in Reference
Labs
“We are thrilled to add the Ethos Diagnostic Science labs to our
expanding diagnostics presence in the U.S., and we look forward to
working with their dedicated, trusted, board-certified pathologists
and laboratory technicians,” said Lisa Lee, Senior Vice President
and Head of Global Diagnostics for Zoetis. “With the addition of
Ethos’ labs in San Diego, Denver and Boston, we continue to build a
more holistic diagnostics portfolio at Zoetis, and together we can
provide veterinarians with even more valuable service and accurate
insights that inform the care they provide to animals.”
“We’re very proud of Ethos Diagnostic Science and our lab teams
who have demonstrated our core value of innovation and provided
invaluable service to our clinical teams, pet families at Ethos
Veterinary Health and veterinary teams of our lab customers,” said
Brian Cassell, DVM, Chief Strategy Officer, Ethos Veterinary
Health. “We look forward to a continued strong relationship with
Zoetis as they add our labs to all that they can offer the
veterinary community.”
Reference Labs Complement Point-of-Care Diagnostics
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. In 2018, through the acquisition of Abaxis, Inc., and its
world-class portfolio of VetScan® diagnostic instruments and rapid
tests, Zoetis became a leader in the development, manufacture, and
marketing of veterinary point-of-care diagnostic instruments and
consumables.
The global veterinary diagnostics category, which includes
reference laboratory and point-of-care diagnostics, is estimated to
exceed $4 billion1, with compound annual growth of approximately
10% over the past three years1. Zoetis expects the diagnostics
category to continue to grow faster than the animal health
industry, with growth in the high single digits; this growth is
driven by pet owners’ increasing interest in pet wellness trends
along with rising medicalization rates, increasing standards of
veterinary care, and the convenience of in-clinic testing1.
About Zoetis
Zoetis is the leading animal health company, dedicated to
supporting its customers and their businesses. Building on more
than 65 years of experience in animal health, Zoetis discovers,
develops, manufactures and commercializes medicines, vaccines and
diagnostic products, which are complemented by biodevices, genetic
tests and a range of services. Zoetis serves veterinarians,
livestock producers and people who raise and care for farm and
companion animals with sales of its products in more than 100
countries. In 2018, the company generated annual revenue of $5.8
billion with approximately 10,000 employees. For more information,
visit www.zoetis.com.
About Ethos Diagnostic Science
Ethos Diagnostic Science, part of Ethos Veterinary Health, is a
full-service veterinary diagnostic laboratory founded in 2015 as
the former STAT Veterinary Lab. With lab locations in Boston,
Denver and San Diego, Ethos Diagnostic Science performs testing for
all veterinary species in hematology, clinical chemistry,
urinalysis, microbiology, parasitology, endocrinology, serology,
cytology and histology, and aims to provide the highest quality
results and rapid turnaround times, while advancing the field of
veterinary diagnostic medicine. For more information, visit
www.ethosdiagnostics.com.
Forward-Looking Information
This press release contains forward-looking statements, which
reflect the current views of Zoetis with respect to business plans
or prospects, future operating or financial performance, future
guidance, future operating models, expectations regarding products,
expectations regarding the performance of acquired companies and
our ability to integrate new businesses, expectations regarding the
financial impact of acquisitions, future use of cash and dividend
payments, and other future events.
These statements are not guarantees of future performance or
actions. Forward-looking statements are subject to risks and
uncertainties. If one or more of these risks or uncertainties
materialize, or if management's underlying assumptions prove to be
incorrect, actual results may differ materially from those
contemplated by a forward-looking statement. Forward-looking
statements speak only as of the date on which they are made. Zoetis
expressly disclaims any obligation to update or revise any
forward-looking statement, whether as a result of new information,
future events or otherwise. A further list and description of
risks, uncertainties and other matters can be found in our Annual
Report on Form 10-K for the fiscal year ended December 31, 2018,
including in the sections thereof captioned “Forward-Looking
Statements and Factors That May Affect Future Results” and “Item
1A. Risk Factors,” in our Quarterly Reports on Form 10-Q and in our
Current Reports on Form 8-K. These filings and subsequent filings
are available online at www.sec.gov, www.zoetis.com, or on request
from Zoetis.
1 Based on internal estimates and publicly available
information.
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version on businesswire.com: https://www.businesswire.com/news/home/20200207005449/en/
Zoetis Media: Bill Price
1-973-443-2742 (o) William.Price@zoetis.com
Christina Lood 1-973-822-7249 (o) Christina.Lood@zoetis.com
Zoetis Investors: Steve Frank
1-973-822-7141 (o) Steve.Frank@zoetis.com
Ethos Media: Nadja Torling
720-213-2717 ntorling@ethosvet.com
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