PawsPlus Inc., the holding company for Vetco Hospitals Inc., has acquired Animal Health Associates Inc. in an all-stock transaction. Both companies are based in Sarasota, Fla.
Vetco Hospitals and Animal Health operate pet vaccination clinics in pet stores. With the acquisition, PawsPlus will offer almost 700 vaccination clinics in eight states. Five full-service Vetco Hospitals are in Southern California.
“This is a perfect fit,” said K. Bryan Shobe, CEO of PawsPlus. “Animal Health is a significant player in the pet vaccination services industry, serving clients in Florida and Georgia inside Pet Supermarket, Tractor Supply Co. and independent pet stores. Their corporate philosophy, organizational structure and business model closely mirror that of our operating subsidiary, Vetco Hospitals.”
George Johnson, co-founder of Animal Health, was named chief operating officer and president of PawsPlus.
PawsPlus, which moved its headquarters into the newly expanded Animal Health offices in Sarasota, set a sales record in the first half of 2009 despite the flagging economy, Shobe said.
Vetco’s six-month sales ending June 30 were $7.1 million, a 25 percent increase from the year-ago period. Animal Health saw sales of $3.1 million in the first six months.
Combined sales for the two companies on a pro forma basis would have been $17.8 million in 2008 and $10.2 million for the first six months of 2009.