LOS ANGELES, July 1, 2009 (GLOBE NEWSWIRE) -- VCA Antech, Inc. (Nasdaq:WOOF), a leading animal healthcare company in the United States, announced today that it has acquired Eklin Medical Systems, Inc., a leading seller of digital radiology (DR), ultrasound and practice management software (VIA) systems in the veterinary market. VCA Antech, Inc. established its medical technology segment with the acquisition of Sound Technologies, Inc. in October 2004. The combined company will be the largest supplier of diagnostic imaging equipment and other medical technology products to the veterinary market.
"We are combining the two leading providers of digital imaging in the veterinary market -- Sound Technologies and Eklin," said Bob Antin, chairman and CEO of VCA Antech. "In addition to the strength of Sound Technologies' product line, Eklin also has an outstanding reputation and a product line with strength in all sectors, particularly the equine market. Combining the two companies' technologies and senior management teams establishes us as the industry leader. Under the guidance of Sound Technologies' Steve Eyl, who will continue as president of Sound Eklin, we look forward to using our leadership position to support state-of-the-art medicine in the veterinary market, by providing the most advanced diagnostic tools in a cost-effective manner."
With more than 475 hospitals employing over 2,000 veterinarians, VCA Antech, Inc. owns, operates and manages the largest networks of freestanding veterinary hospitals and veterinary-exclusive clinical laboratories in the country. VCA Animal Hospitals had approximately 6.6 million patient visits during last year alone and the Antech lab division provided diagnostic testing for over 16,000 clients. VCA also supplies diagnostic imaging equipment to the veterinary industry through its Sound Technologies division.
"The combination of VCA Antech's Sound Technologies division and Eklin will provide the ability to offer veterinary care providers much broader and deeper technology solutions, customer education and customer care," said Gary R. Cantu, chairman and CEO of Eklin. "This is a capital intensive industry with continual challenges when it comes to investment in new technologies and customer support. The timing is right to combine these two leaders, from a market and a personal standpoint. After several previous attempts to retire, I feel comfortable entrusting the future of the company to the capable management teams at VCA Antech and Eklin."
Cantu will be stepping down to spend time with family, continue angel investments and work on outside board activities.
"Sound Technologies and Eklin truly have revolutionized the veterinary care industry," said Bob Antin. "We believe that joining these two entities together will create a significant technology advantage. The combination of expanded services and talented people from both organizations create a far stronger and larger company which will greatly benefit the profession."
About VCA Antech, Inc.
VCA Antech is the leading provider of pet health care services in the country with a nationwide clinical laboratory system and over 475 free-standing animal hospitals. VCA Antech has an excellent reputation in the pet health care industry caring for approximately five million animals annually. VCA Antech has achieved this position by acquiring and managing high quality veterinary practices, providing preeminent diagnostic laboratory services for animal hospitals across the country and supplying diagnostic imaging equipment to the veterinary industry. For further information, visit www.vcaantech.com.
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Statements in this release that are not historical are forward-looking statements. These statements are based on management's current beliefs and expectations, including the statements as to the expected growth, innovation and other benefits of the combination of the two companies. Actual results may vary substantially as a result of a variety of factors. Among the important factors that could cause actual results to differ are: the ability to successfully integrate the two companies and achieve expected operating synergies following the merger; the rate of the Company's laboratory internal revenue growth and animal hospital same-store revenue growth; the level of direct costs and the ability of the Company to maintain revenue at a level necessary to maintain expected operating margins; the level of selling, general and administrative costs; the effects of the Company's recent acquisitions and its ability to effectively manage its growth and achieve operating synergies; a continued decline in demand for some of the Company's products and services; any disruption in the Company's information technology systems or transportation networks; the effects of competition; any impairment in the carrying value of the Company's goodwill; changes in prevailing interest rates; the Company's ability to service its debt; and general economic conditions. These and other risk factors are discussed in the Company's periodic reports filed with the Securities and Exchange Commission, including the Company's Report on Form 10-K for the year ended December 31, 2008, and the reader is directed to these statements for a further discussion of important factors that could cause actual results to differ materially from those in the forward-looking statements.