Zoetis to Acquire Abaxis

Zoetis will acquire Abaxis in a merger agreement valued at approximately $2 billion which will bring Zoetis a proven line of diagnostic instruments and consumables, and enable them to support veterinarians with solutions to predict, prevent, detect and treat diseases in animals.
Commenting on the merger, Zoetis’ CEO Juan Ramon Alaix said “This acquisition brings Zoetis a company that has a proven, competitive diagnostic platform for growth that we can help to accelerate in the U.S. and worldwide with our global scale and direct customer relationships in approximately 45 countries. Together we can bring more veterinarian customers a broader range of products that fit into our comprehensive solutions and innovations, from prediction and early detection of disease in animals to prevention and treatment.”
CEO of Abaxis Clint Severson added “We recently invested in expanding operations in Europe, Latin America, and the Asia Pacific Region, with 20% of revenue in fiscal year 2018 coming from our international operations. Zoetis has the global presence and direct veterinary customer relationships to deliver greater value to more customers around the world and accelerate the growth of our international operations. This acquisition gives recognition to our record of success and the highly skilled, dedicated employees of Abaxis who helped build our company over the course of nearly three decades.”