Elanco and Aratana Therapeutics finalize deal to mergeJuly 18, 2019Elanco Animal Health has acquired Aratana Therapeutics. Structured as a stock-for-stock transaction, the deal was accepted by Aratana stockholders. "Aratana's strong position in the specialty market—with its current portfolio and pipeline—complements Elanco's field presence and capitalizes on new opportunities for key existing Elanco pet therapy brands," says Jeff Simmons, president and chief executive officer of Elanco. "This deal furthers Elanco's value-generating innovation, portfolio, and productivity (IPP) strategy, while continuing to bring great value to veterinarians and pet owners." Aratana produces Galliprant, a canine NSAID for osteoarthritis for which Elanco has had the exclusive rights to develop, manufacture, and commercialize since 2016. Aratana also contributes two additional products to Elanco's portfolio: Entyce, the only FDA-approved veterinary therapeutic to stimulate appetite in dogs, and Nocita, a long-acting local anesthetic that provides up to 72 hours of post-operative pain relief following certain surgeries in dogs and cats. Further, Aratana's research and development pipeline will contribute to Elanco's efforts to sustain the introduction of novel and innovative companion animal therapeutics. As a result of the acquisition, Elanco says it is forming a new commercial team dedicated to the veterinary specialty business into which the Aratana field force will transition. This specialty sales force will …
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Synchrony acquires Pets Best to expand CareCredit platformMarch 12, 2019Pets Best will now operate under Synchrony's CareCredit to offer pet parents more options to pay for veterinary care. "With Pets Best, we now have unique insight into the fast-growing pet health insurance market and can offer pet owners more choices for their pet's care," says CareCredit CEO, Beto Casellas. "This acquisition will further strengthen our strong veterinary relationships by giving veterinarians the ability to offer comprehensive financial options and a seamless customer experience." Pets Best has more than 125,000 pet health insurance policies, more than one million claims processed, and payouts of $200 million in claims. "CareCredit has unmatched expertise with consumer financing in the veterinary industry, and their digital-first, customer-focused culture perfectly complements our priorities," says Pets Best president, Chris Middleton. "Joining forces with CareCredit, we can quickly scale our offerings and provide a full suite of financing options to our customers, benefiting veterinarians, pet parents, and ultimately pets for the long term." As a result of the acquisition, CareCredit will offer consumers comprehensive care for their pets by merging financing and insurance options.
Vetsource acquires VetSuccess to enhance data delivery, analyticsSeptember 10, 2018Vetsource, a Portland, Ore.-based technology-enabled healthcare services company, has acquired Toronto-based VetSuccess, a veterinary data analytics, machine learning, and business intelligence organization. Vetsource recently closed a $50 million round of investment led by Bain Capital Ventures. The company's services include home delivery of manufacturer-sourced medications and nutrition products, as well as the mobile-optimized ScriptRight ePrescribing tool that veterinarians use to write, review, and approve prescriptions from web-enabled devices. With the acquisition of VetSuccess, Vetsource will expand its customizable dashboards that give veterinary practices detailed performance data regarding the success of its home delivery program, according to the company. "Uniting VetSuccess with our services was a natural choice, as we share a common vision in providing essential solutions to veterinary practices and partnering with them in their success," said Kurt Green, president and CEO of Vetsource. "The addition of VetSuccess' leading-edge, data-focused technology will enable our customers to gain greater visibility into the health of their business, empowering them to make evidence-based decisions using their performance data in new and unparalleled ways."
Eli Global acquires veterinary derm company Stratford PharmaceuticalsAugust 28, 2018Eli Global LLC, based in Durham, N.C., has acquired Stratford Pharmaceuticals LLC, DBA Stratford Animal Health. Financial terms of the transaction were not disclosed. Stratford, which currently provides a wide arrangement of dermatology products to more than 10,000 veterinary hospitals in the U.S. and eight other countries, will continue to operate independently under the leadership of Brian Nugent, founder and CEO, from its Oldsmar, Fla., corporate headquarters. Greg Lindberg is chairman and CEO of Eli. "Partnering with Eli Global was a natural fit as it allows Stratford to keep our corporate identity, provide stability and continuity for our amazing employees while continuing to provide excellent products and services to our large base of veterinary hospitals in the U.S. and abroad," said Nugent. "In addition, Eli Global's resources include more than 100 businesses with 7,500-plus employees and over $20 Billion in proforma assets, which will allow Stratford to continue its double-digit organic growth while at the same time being extremely aggressive in the pursuit of animal health acquisitions."
