Zoetis acquires veterinary diagnostic service provider Phoenix Lab
Category: #business  By Mateen Dalal  Date: 2019-11-02
  • share
  • Twitter
  • Facebook
  • LinkedIn

Zoetis acquires veterinary diagnostic service provider Phoenix Lab

Zoetis acquires veterinary diagnostic service provider Phoenix Lab

The global veterinary diagnostics market, including point-of-care diagnostics and reference laboratories, is estimated to be worth $4 billion, with a compound annual growth rate of approximately 10% over the past three years. The veterinary diagnostics segment is expected to grow more rapidly than the animal health market. As a result, the industry is increasingly witnessing acquisitions and collaborations. 

A recent instance of this trend was observed when, Zoetis, the largest vaccinations and medicines manufacturer of livestock and pets in the world, reportedly announced the acquisition of Phoenix Central Laboratory for Veterinarians, Inc., (Phoenix Lab), a US-based veterinary diagnostic services firm.

With the integration of reference laboratory service capabilities, Zoetis can now offer more comprehensive diagnostics services and products as an improved value to veterinarians across the U.S.

Point-of-care diagnostic testing and reference laboratories are highly synergistic, providing veterinarians an common source for a whole spectrum of tests, and access to the expertise of Board-certified pathologists and specialists to support test outcomes.

Group President and Executive Vice President, Business Development and Strategy, U.S. Operations at Zoetis, Kristin Peck stated that the addition of Phoenix Lab to Zoetis brings a reference laboratory extremely valued by veterinarians for customer care and quality assurance. 

Peck added that this acquisition strongly complements Zoetis’ diagnostic testing capabilities, including WITNESS®, VetScan®, AlphaTRAK®, and SERELISA® and it would help the company offer its consumers even better solutions across the continuum of care to prevent, detect, predict, and treat diseases in animals.

President and Chief Executive Officer of Phoenix Lab, John Evans stated that the company is extremely proud of its consistent track record in delivering veterinarians’ diagnostic requirements as well as the trusted relationships the company has built with its customers.

Evans further added that going forward the company is thrilled to join forces with Zoetis to provide the company’s customers even more for the health needs of their animals.

Zoetis did not disclose any financial terms about the acquisition of Phoenix Lab.

Earlier in 2018, Zoetis purchased Abaxis and its best-in-class portfolio of the VetScan rapid tests and diagnostic instruments. Through this takeover, the company became a leader in the manufacture, marketing and development of veterinary point of care consumables and diagnostic instruments.
 

Source credit: https://news.zoetis.com/press-release/diagnostics/zoetis-completes-acquisition-phoenix-lab-leading-veterinary-reference-labo

  • share
  • Twitter
  • Facebook
  • LinkedIn


About Author

Mateen Dalal    

Mateen Dalal

Mateen has completed his Bachelor’s degree in electronics and telecommunication engineering, post which he lent his proficiency to the industry, working as a quality and test engineer. Drawn intricately toward the field of content creation however, Mateen soon switc...

Read More

More News By Mateen Dalal

Gennova begins enrollment for Phase 1/2 trials of mRNA COVID vaccine
Gennova begins enrollment for Phase 1/2 trials of mRNA COVID vaccine
By Mateen Dalal

India's first mRNA-based COVID-19 vaccine, HGCO19, formulated by Pune-based biotech firm, Gennova Biopharmaceuticals is about to enter its Phase 1/2 clinical trials with the enrollment of candidates, said the Department of Biotechnology (DBT). R...

Mashcor launches new independent search engine for the Afrotech sector
Mashcor launches new independent search engine for the Afrotech sector
By Mateen Dalal

Mashcor, a leading South African digital agency, has reportedly announced the launch of Africa’s first indigenous search engine. The new search engine has been specifically designed to connect the region’s rapidly expanding tech sector to...

Canada and Germany ink new energy partnership with emphasis on hydrogen
Canada and Germany ink new energy partnership with emphasis on hydrogen
By Mateen Dalal

The government of Canada has inked a new, comprehensive energy partnership deal with the government of Germany to set up a formal collaboration across a wide array of shared energy priorities, including hydrogen and LNG. According to reports, this c...