VCA Antech to buy National PetCare Centers

FORT COLLINS-VCA Antech Inc. (NASDAQ: WOOF) located in Los Angeles, Calif. has agreed to purchase National PetCare Centers Inc., a Fort Collins-based veterinary hospital owner and operator. Under the agreement, VCA Antech will acquire NPC for $76.5 million, not including assumed debt, to be paid in cash. The agreement is scheduled to close in June.
NPC operates 69 animal hospitals in 11 states. In 2003 the company had annual revenues of $81.7 million. On completion of the merger, the combined companies will operate 316 animal hospitals in 36 states. In fiscal 2003, VCA Antech’s revenues were $544.7 million.
National PetCare Centers was established in 1996 by six veterinarians with a desire to increase the quality of veterinary care received by animals.
“I am proud of what we built over the past eight years,´ said Gary Burge, founder and chairman of the board of NPC in a released statement. “I view this as a merger of hospitals, people and cultures and believe it is a great fit. It is really a continuation of our original vision. The size and scale of the combined hospital operations will afford our hospitals many benefits and advance our objective of providing the highest quality veterinary care in the nation.”
The NPC board of directors unanimously approved the merger agreement, and significant stockholders -representing over 36 percent of the vote required to approve the transaction – have agreed to vote in favor of the merger.

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