Morgan Lewis has advised Covetrus in relation to the negotiation of a definitive agreement for the sale.
Heska Corporation executed the acquisition of Covetrus scil animal care business for a purchase price of $125 million. The transaction is expected to close in the next 60 to 90 days, subject to customary closing conditions.
The sale agreement also includes a commercial relationship between Covetrus and Heska concerning ongoing logistics support for Heska’s diagnostic products as well as connectivity between the Covetrus Global Technology Solutions practice information management software systems and Heska’s laboratory and imaging solutions.
Covetrus is a global animal-health technology and services company working with veterinary practitioners.
Heska (NASDAQ: HSKA) is a provider of veterinary diagnostic and specialty products.
Stifel acted as the exclusive financial advisor to Covetrus for this transaction.
Morgan Lewis partners Ulrich Korth (Picture) in Frankfurt and Mark Stein in Boston led the cross border team, with support from partners Michael Masling and Joerg Siegels in Frankfurt and Dan Nelson in Boston.
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