M&A Deal Summary

Zoetis Acquires Abaxis

On May 16, 2018, Zoetis acquired medical products company Abaxis for 2.0B USD

Acquisition Highlights
  • This is Zoetis’ 3rd transaction in the Medical Products sector.
  • This is Zoetis’ largest (disclosed) transaction.
  • This is Zoetis’ 3rd transaction in the United States.
  • This is Zoetis’ 1st transaction in California.

M&A Deal Summary
Date 2018-05-16
Target Abaxis
Sector Medical Products
Buyer(s) Zoetis
Deal Type Add-on Acquisition
Deal Value 2.0B USD
Advisor(s) Piper Jaffray Companies (Financial)
Cooley LLP (Legal)

Target

Abaxis

Union City, California, United States
website
Abaxis, Inc. is a developer, manufacturer, marketer and seller of portable blood analysis systems for use in any veterinary or human patient-care setting to provide clinicians with rapid blood constituent measurements. Abaxis was founded in 1989 and is based in Union City, California.

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Buyer(S) 1

Buyer

Zoetis

Parsippany, New Jersey, United States

website

Category Company
Founded 1952
Sector Life Science
Employees11,300
Revenue 6.7B USD (2020)
DESCRIPTION

Zoetis engages in the discovery, development, manufacture and commercialization of a diverse portfolio of animal health medicines and vaccines designed to meet the real-world needs of veterinarians and the livestock farmers and companion animal owners they support. Zoetis was founded in 1952 and is based in Parsippany, New Jersey.

DEAL STATS #
Overall 7 of 13
Sector (Medical Products) 3 of 3
Type (Add-on Acquisition) 7 of 12
State (California) 1 of 4
Country (United States) 3 of 8
Year (2018) 1 of 1
Size (of disclosed) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-04-13 Nexvet Biopharma

Tullamore, Ireland

Nexvet Biopharma PLC is a veterinary biologic therapeutics company focused on transforming the therapeutic market for companion animals, such as dogs and cats, by developing and commercializing novel, species-specific biologics. Nexvet Biopharma is based in Tullamore, Ireland.

Buy $85M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-22 Platinum Performance

Buellton, California, United States

Platinum Performance is a nutrition-focused animal health company. Platinum Performance develops, manufactures and markets a broad range of premium nutritional product formulas for horses as well as a smaller range of petcare brands and human supplements. Platinum Performance was founded in 1996 and is based in Buellton, California.

Buy -
Mergr

Product

Company

Legal