Heska acquires pair of Spanish vet diagnostics companies

LOVELAND and TUDELA, SPAIN — Heska Corp. (Nasdaq: HSKA) closed acquisitions of CVM Diagnostico Veterinario S.L. and CVM Ecografia S.L., two sister companies in the veterinary diagnostics industry based in Spain.

Heska, which produces its own set of blood tests and imaging tools for animals, said the companies initially agreed to a sale late last year. The CVM companies estimated they have the largest market share in Spain for veterinary ultrasound and digital radiography equipment and the second-largest market share for non-laboratory blood tests.

In a prepared statement, Heska CEO and President Kevin Wilson said the CVM companies will be footholds as the company looks to expand further into the European market.

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“The Spanish market is a healthy, core European market that fits well with Heska’s reset subscriptions model for diagnostics, and it is a key part of Heska’s geographic expansion strategy in advance of our upcoming product launches,” he said.

Heska did not disclose the acquisition price, but that figure and additional details may be released in a future quarterly report or during its scheduled presentation at next week’s J.P. Morgan 2019 Healthcare Conference. The company declined a request for additional comment Thursday morning.