Correct: Heska Expects Costs Related to the Acquisition and Other End-Of-Yr Transaction Activities Will Have an Impact on 2019 Reported Earnings >CVET

正确:赫斯卡预计与收购和其他年终交易活动相关的成本将对2019年的盈利报告>cvet产生影响。

2020/01/15 05:07  道琼斯

*DJ Heska Corporation To Acquire Scil Animal Care, A European Leader In Veterinary Point-of-Care Diagnostics >HSKA



(MORE TO FOLLOW) Dow Jones Newswires (212-416-2800)

January 14, 2020 16:05 ET (21:05 GMT)

Press Release: Heska Corporation to Acquire scil animal care, a European Leader in Veterinary Point-of-Care Diagnostics

Heska Corporation to Acquire scil animal care, a European Leader in Veterinary Point-of-Care Diagnostics

Jumps to #1 or #2 in key markets and expands reach to 25 countries

PR Newswire

LOVELAND, Colo., Jan. 14, 2020

LOVELAND, Colo., Jan. 14, 2020 /PRNewswire/ -- Heska Corporation (NASDAQ: HSKA - News; "Heska" or the "Company"), a provider of advanced veterinary diagnostic and specialty products, announced today that the Company has entered into an agreement (the "Agreement") to acquire 100% of the capital stock of scil animal care company GmbH ("scil") from Covetrus, Inc. (NASDAQ: CVET) (the "Acquisition"). Founded in 1998 and headquartered in Germany with operations in France, Italy, Spain and Canada, scil has grown into a veterinary point of care laboratory and imaging diagnostics leader, serving pets and their families across Europe and the globe. With the combination of two of the world's top veterinary diagnostics companies servicing millions of pets through tens of thousands of veterinarians and active analyzers across the globe, Heska expects to(1) :


-- reach over 25 countries to win a top three position in key markets to
capture market share of at least: United States (.APPROX.12.5%), Canada
(.APPROX.13%), Germany (.APPROX.40%), Spain (.APPROX.40%), France
(.APPROX.30%), and Italy (.APPROX.19%), and to leverage a strong and
growing presence in the Czech Republic, the Netherlands, Poland, the
United Kingdom, Australia, Latin America and Malaysia;

-- include over 500 total employees, with direct sales teams in 10 countries
spanning Europe, North America and Australia;

-- generate approximately $200 million in sales for 2020, subject to the
closing and closing date of the Acquisition and other conditions;

-- derive 93% of sales in Core Companion Animal, with total 2020 sales
estimated to come from Laboratory (60%), Imaging (23%), Other CCA (10%),
and Other Vaccines and Pharma (7%); and

-- deliver a favorable geographic sales mix for growth from North America
(62%) and greater Europe (37%).

Heska's Chief Executive Officer and President, Kevin Wilson, commented, "I am thrilled to welcome the entire scil animal care team to our Heska family. Heska ended December as a clearly advancing #3 in North America but largely unrepresented overseas. We begin January a much stronger #3 in North America and a solid #1 or #2 in key European markets, with footholds and assets in place to drive more deeply and more broadly everywhere. By joining with Optomed in France (announced last year), CVM in Spain (announced last week), and scil now, we emphatically reaffirm our commitment to our strategic goals to: (1) double the customers and geography Heska serves, (2) double Heska's addressable revenue-product streams and (3) continuing to win in our baseline business. After two focused years of preparation and investment, we now rapidly advance all of these goals in 2020 as a global team capable of globally partnering with individual veterinarians, corporate hospital consolidators, pharmaceutical leaders and diet companies. Into this new global reach, we intend to drive Heska's new products pipeline, including the new Element RC (rotor chemistry), new Element i+ (immunoassay) and upcoming Element UF (urine and fecal), which we continue to expect to reach market later this year."

Transaction Details

Heska will purchase scil for $125 million in cash, subject to working capital and other adjustments as set forth in the Agreement. The Acquisition is expected to close in the next 60 to 90 days, subject to the satisfaction or waiver of closing conditions set forth in the Agreement, including the receipt by Heska of audited financial statements of scil for the years ended December 31, 2018 and 2019 and other customary closing conditions. The Acquisition is not subject to any financing condition. Piper Sandler acted as the exclusive financial advisor to Heska for the Acquisition.

Heska intends to finance the transaction through a private offering of $125 million of Convertible Preferred Stock ("Preferred Stock") pursuant to a Securities Purchase Agreement (the "Financing Agreement"), dated as of January 12, 2020. The transactions contemplated by the Financing Agreement are expected to close at the time the Company closes the Acquisition, subject to customary closing conditions. 125,000 shares of Preferred Stock ("Preferred Shares") will be issued pursuant to the Financing Agreement, under which the Company expects to exercise its right to convert the Preferred Shares into 1,508,751 shares of the Company's Public Common Stock following and subject to the receipt of an affirmative shareholder vote at the Company's annual shareholder meeting to increase the number of authorized shares of Public Common Stock; provided however, if such affirmative shareholder vote is not obtained and the conversion of the Preferred Shares does not occur, the Company will pay a cash dividend to the owners of Preferred Shares at an initial per annum rate of 5.75%, which shall increase in subsequent periods up to a maximum per annum rate of 7.25%. The conversion of the Preferred Shares will result in dilution of less than 20% of total shares of the Company's Public Common Stock currently issued and outstanding.

Heska anticipates costs associated with the Acquisition and other end-of-year transactions related activities will have an impact on 2019 reported earnings. Heska expects the Acquisition to be moderately accretive to 2020 earnings per share. The Company will provide its 2020 full-year outlook on the upcoming 2019 fourth quarter and full-year report late February and will provide a multi-year outlook at its upcoming May 20, 2020 Investor Day in New York.

Webcast Details

Heska CEO and President, Kevin Wilson, will provide more information about this announcement and other growth initiatives at the J.P. Morgan Healthcare Conference at 6:00 p.m. ET on Wednesday, January 15, 2020. Investors and the public may access the live webcast at https://jpmorgan.metameetings.net/events/hc20/sessions/30066-heska-q-a/webcast. A question and answer session will be held following the presentation and can be accessed at https://jpmorgan.metameetings.net/events/hc20/sessions/30066-heska-q-a/webcast. The webcast will be archived shortly after the event, and a replay will be available on the company's website for 90 days following the conference.

About Heska

Heska Corporation (NASDAQ: HSKA - News) manufactures, develops and sells advanced veterinary diagnostic and specialty healthcare products through two business segments. The Core Companion Animal Health ("CCA") segment represents approximately 85% of revenues, and the Other Vaccines and Pharmaceuticals ("OVP") segment represents approximately 15% of revenues, as of September 30, 2019. CCA segment includes Point of Care Laboratory testing instruments and consumables, primarily under a unique multi-year Reset Subscription model, digital imaging products, software and services, local and cloud-based data services, allergy testing and immunotherapy, and single use offerings such as in-clinic diagnostic tests and heartworm preventive products. OVP segment includes private label vaccine and pharmaceutical production under third party agreements and channels, primarily for herd animal health.

Forward-Looking Statements

This document contains forward-looking information related to the Company. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as "believes," "plans," "anticipates," "expects," "intends," "strategy," "future," "opportunity, " "may," "will," "should," "could," "potential," or similar expressions. All of the statements in this document, other than historical facts, are forward-looking statements and are based on a number of assumptions that could ultimately prove inaccurate and cause actual results to materially deviate from forward-looking statements. Forward-looking statements in this document include, among other things, statements with respect to future sales, sales split percentages, sales geography percentages, market share, and strategic goals, the expected timing of the Acquisition and its funding and its anticipated benefits; the expected conversion of the Preferred Shares into shares of Public Common Stock; anticipated investments and growth; and the number of customers that the Company will be able to acquire and retain. Such statements are subject to risks and uncertainties, including, but not limited to, uncertainties related to the closing of the Acquisition; the ability to achieve the anticipated benefits of the Acquisition uncertainties related to supplier availability, competing suppliers, any product's ability to perform and be recognized as anticipated, in particular when such product is under development; uncertainties related to Heska's ability to sell and market its products in an economically sustainable fashion, including related to varying customs, cultures, languages and sales cycles and uncertainties with foreign political and economic climates; and the Company's ability to integrate the acquired scil business within its existing operations; and new product development and release schedules. Other factors that could cause actual results to differ materially from those matters expressed in or implied by such forward-looking statements are set forth under "Risk Factors" in the Company's most recent annual report on Form 10-K and subsequent quarterly reports on Form 10-Q.

(MORE TO FOLLOW) Dow Jones Newswires

January 14, 2020 16:05 ET (21:05 GMT)

Press Release: Heska Corporation to Acquire scil -2-

(1) Information regarding market share and market position is derived from data from publicly available information disclosed by third party sources and Heska internal estimates based on such data, scil data, and Heska's knowledge of the industry. Heska has not independently verified the data from third party sources and cannot assure its accuracy or completeness, and Heska internal and scil estimates have not been independently verified. Data specifically excludes items not point of care, including central reference laboratories and single use "rapid" tests. While Heska is not aware of any misstatements regarding this information, Heska cannot guarantee its accuracy or completeness. Information regarding future sales, sales split percentages, sales geography percentages, and goals are forward-looking statements and actual results can materially differ from those noted, due to several factors, including but not limited to market, currency, integration, supplier, distributor, scil, and Heska performance and those mentioned in Safe Harbor and forward-looking statements disclaimer herein.

View original content to download multimedia:http://www.prnewswire.com/news-releases/heska-corporation-to-acquire-scil-animal-care-a-european-leader-in-veterinary-point-of-care-diagnostics-300986870.html

SOURCE Heska Corporation

/CONTACT: Heska Corporation, Jon Aagaard, Director, Investor Relations, 970.619.3033, investorrelations@heska.com



/Web site: http://www.heska.com



(END) Dow Jones Newswires

January 14, 2020 16:05 ET (21:05 GMT)

*DJ Covetrus to Purchase Scil for $125M in Cash >CVET



(MORE TO FOLLOW) Dow Jones Newswires (212-416-2800)

January 14, 2020 16:06 ET (21:06 GMT)

*DJ Covetrus Expects Costs Related to the Acquisition and Other End-Of-Yr Transaction Activities Will Have an Impact on 2019 Reported Earnings >CVET



(MORE TO FOLLOW) Dow Jones Newswires (212-416-2800)

January 14, 2020 16:06 ET (21:06 GMT)

*DJ Correct: Heska to Purchase Scil From Covetrus for $125M in Cash >HSKA



(MORE TO FOLLOW) Dow Jones Newswires (212-416-2800)

January 14, 2020 16:07 ET (21:07 GMT)

*DJ Correct: Heska Expects Costs Related to the Acquisition and Other End-Of-Yr Transaction Activities Will Have an Impact on 2019 Reported Earnings >CVET



(MORE TO FOLLOW) Dow Jones Newswires (212-416-2800)

January 14, 2020 16:07 ET (21:07 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.

*DJ heska公司收购欧洲兽医护理点诊断中心的领导



道琼斯通讯社(212-416-2800)

2020年01月14日16:05(格林尼治时间21:05)

新闻稿:赫斯卡公司收购欧洲兽医点诊断中心领导的模具动物护理公司

赫斯卡公司收购欧洲兽医点诊断中心的动物护理公司

在关键市场跃升至#1或#2,并扩展到25个国家。

新闻通讯社

洛夫兰,科罗拉多州,2020年1月14日

科罗拉多州Loveland,2020/PRNewswire/-Heska Corporation(纳斯达克:HSKA-News;“Heska”或“Company”),一家先进的兽医诊断和专业产品供应商,今天宣布,该公司已经签订了一项协议(“协议”),从Covetrus公司获得斯皮动物护理公司GmbH(“模具”)100%的资本存量。(纳斯达克市场代码:CVeT)(“收购”)该公司成立于1998年,总部设在德国,在法国、意大利、西班牙和加拿大设有分公司,现已发展成为兽医护理实验室和影像诊断中心的领导者,为欧洲和全球的宠物及其家人提供服务。随着两家世界顶级兽医诊断公司的合并,通过全球成千上万名兽医和活跃的分析人员为数百万只宠物提供服务,赫斯卡预计(1):


--在25个以上的国家赢得关键市场的前三名
至少占领市场份额:美国(.APPROX.12.5%)、加拿大
(.APPROX.13%)、德国(.APPROX.40%)、西班牙(.APPROX.40%)、法国
(.APPROX.30%)和意大利(.APPROX.19%)
在捷克共和国、荷兰、波兰、
联合王国、澳大利亚、拉丁美洲和马来西亚;

-包括500多名雇员,在10个国家设有直销队
横跨欧洲、北美和澳大利亚;

--2020年的销售额约为2亿美元,但前提是
收购的截止日期和其他条件;

-获得核心伙伴动物93%的销售额,2020年总销售额
估计来自实验室(60%)、影像学(23%)、其他共同国家评估(10%),
及其他疫苗及药物(7%);及

-为北美的增长提供有利的地理销售组合
(62%)和大欧洲(37%)。

Heska公司的首席执行官兼总裁凯文·威尔逊说:“我很高兴欢迎整个模具动物护理团队加入我们的赫斯卡家族。去年12月,赫斯卡在北美的排名明显上升,但在海外却基本上没有代表。我们从今年1月开始,北美市场排名第3位,欧洲主要市场排名第1或第2位,我们的立足点和资产已经到位,可以更深入、更广泛地推动世界各地的发展。通过加入法国Optomed公司(去年宣布)、西班牙CVM公司(上周宣布)和SILE Now公司,我们强调重申我们对我们的战略目标的承诺:(1)将客户和地理Heska服务增加一倍;(2)使Heska的可寻址收入增加一倍--产品流;(3)继续在我们的基线业务中获胜。经过两年集中的准备和投资,我们在2020年迅速推进了所有这些目标,成为一个全球团队,能够与个别兽医、企业医院整合者、制药领导者和饮食公司建立全球合作伙伴关系。在这一新的全球范围内,我们打算推动Heska公司的新产品管道,包括新元素RC(转子化学)、新元素I+(免疫分析法)和即将推出的元素UF(尿和粪便),我们预计这些产品将在今年晚些时候投放市场。“

交易细节

Heska将以1.25亿美元的现金购买模具,但须按协议的规定进行周转资金和其他调整。这笔收购预计将在今后60至90天内结束,但须满足或放弃“协议”规定的结束条件,包括Heska收到截至2018年12月31日和2019年12月31日的年度经审计的SILE财务报表和其他惯常的结束条件。收购不受任何融资条件的限制。派珀·桑德勒(Piper Sandler)担任Heska公司此次收购的独家财务顾问。

Heska打算根据截至2020年1月12日的证券购买协议(“融资协议”),通过私募发行价值1.25亿美元的可转换优先股(“优先股”)为这项交易融资。融资协议所设想的交易预计将在公司结束收购时结束,但须符合惯例的结束条件。根据“融资协议”,将发行12.5万股优先股(“优先股”),根据该协议,公司将行使其权利,将优先股转换为公司公共普通股中的1,508,751股,但须在公司年度股东大会上获得肯定的股东投票,以增加公共普通股的授权股份;但如未能获得该等肯定的股东表决,而优先股并无进行转换,公司将以5.75%的初始年率向优先股的拥有人派发现金股息,而在其后各期间,该股息的最高年率为7.25%。优先股的转换将导致公司目前发行和发行的公共普通股股份总额的20%以下被稀释。

赫斯卡预计,与收购相关的成本和其他年终交易相关活动将对2019年的报告收益产生影响。赫斯卡预计,到2020年,这笔收购将适度增加每股收益。该公司将为即将到来的2019年第四季度和2月底的全年报告提供2020年全年展望,并将在即将到来的2020年纽约投资者日提供一个多年期展望。

网播详情

Heska首席执行官兼总裁凯文·威尔逊将于下午6点在J.P.Morgan保健会议上提供更多关于这一宣布和其他增长计划的信息。2020年1月15日(星期三)投资者和公众可以在https://jpmorgan.metameetings.net/events/hc20/sessions/30066-heska-q-a/webcast.网上直播。问答课将在演讲结束后举行,并可在https://jpmorgan.metameetings.net/events/hc20/sessions/30066-heska-q-a/webcast.上访问。会议结束后不久,将对网络直播进行存档,会议结束后90天内将在公司网站上播放重播。

关于赫斯卡

Heska公司(纳斯达克市场代码:HSKA-News)通过两个业务部门生产、开发和销售先进的兽医诊断和专业保健产品。截至2019年9月30日,核心伙伴动物健康(CCA)部分约占收入的85%,其他疫苗和制药部门(“OVP”部分)约占收入的15%。CCA部门包括护理点实验室测试仪器和消耗品,主要采用独特的多年重置订阅模式、数字成像产品、软件和服务、本地和基于云的数据服务、过敏测试和免疫治疗,以及单一用途的产品,如临床诊断测试和预防心脏蠕虫产品。OVP部分包括私人标签疫苗和第三方协议和渠道下的药品生产,主要用于畜群动物健康。

前瞻性陈述

本文件包含与本公司有关的前瞻性信息.这些前瞻性陈述通常包括具有预测性的、取决于或提及未来事件或条件的陈述,并包括诸如“相信”、“计划”、“预期”、“预期”、“打算”、“战略”、“未来”、“机会”、“可能”、“将”、“应该”、“可能”、“潜力”或类似的表述。本文件中的所有陈述,除了历史事实之外,都是前瞻性的陈述,并且基于许多可能最终证明是不准确的假设,并导致实际结果与前瞻性的陈述大不相同。本文件中的前瞻性陈述除其他外,包括关于未来销售、销售分割百分比、销售地理百分比、市场份额和战略目标、预期收购时机及其资金及其预期收益的报表;优先股的预期转换为公共普通股股份;预期的投资和增长;以及公司能够获得和保留的客户数量。这类声明受风险和不确定因素的影响,包括但不限于与收购结束有关的不确定因素;获得与供应商供应、竞争供应商、任何产品的表现能力和被确认为预期的不确定因素有关的预期收益的能力,特别是在开发这类产品时;与赫斯卡以经济上可持续的方式销售和销售其产品的能力有关的不确定性,包括与不同习俗、文化有关的不确定性。, 语言、销售周期和不确定因素与国外政治和经济环境有关;公司有能力在现有业务范围内整合所收购的模具业务;以及新产品开发和发布时间表。其他可能导致实际结果与这些前瞻性陈述所表达或暗示的事项大不相同的因素列在公司最近关于表10-K的年度报告和随后关于表10-Q的季度报告中的“风险因素”项下。

道琼斯通讯社

2020年01月14日16:05(格林尼治时间21:05)

新闻稿:Heska公司将收购铅笔-2-

(1)关于市场份额和市场状况的信息来自第三方来源公开提供的信息和Heska根据这些数据、SILD数据和Heska对该行业的知识所作的内部估计。Heska没有独立地核实来自第三方来源的数据,也无法保证其准确性或完整性,而且Heska内部和SILD的估算也没有得到独立的核实。数据特别不包括非护理点的物品,包括中央参考实验室和一次性“快速”测试。虽然Heska不知道关于这一信息的任何错误陈述,但Heska无法保证其准确性或完整性。关于未来销售、销售分割百分比、销售地理百分比和目标的信息是前瞻性的,而实际结果可能与注意到的信息大不相同,这是由于几个因素造成的,包括但不限于市场、货币、整合、供应商、经销商、模具和赫斯卡绩效,以及这里提到的安全港和前瞻性声明中提到的那些。

查看下载multimedia:http://www.prnewswire.com/news-releases/heska-corporation-to-acquire-scil-animal-care-a-european-leader-in-veterinary-point-of-care-diagnostics-300986870.html的原始内容

源Heska公司

/联系人:Heska Corporation,Investor Relations董事Jon Aagaard,970.619.3033



/网站:http://www.heska.com



(完)道琼斯通讯社

2020年01月14日16:05(格林尼治时间21:05)

*DJ Covetrus将以1.25亿美元现金购买模具



道琼斯通讯社(212-416-2800)

2020年01月14日16:06(格林尼治时间21:06)

*dj covetrus预计与收购和其他年终交易活动相关的成本将对2019年的报告收益>cvet产生影响。



道琼斯通讯社(212-416-2800)

2020年01月14日16:06(格林尼治时间21:06)

*DJ正确:Heska以现金1.25亿美元从Covetrus购买铅笔



道琼斯通讯社(212-416-2800)

2020年01月14日16:07(格林尼治时间21:07)

*dj正确:heska预计与收购和其他年终交易活动相关的成本将对2019年的报告收益>cvet产生影响。



道琼斯通讯社(212-416-2800)

2020年01月14日16:07(格林尼治时间21:07)

版权(C)2020 DowJones&Company,Inc.

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