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Patterson Companies, Inc. (Nasdaq: PDCO)
announced the acquisition by its Webster Veterinary Supply unit of
Columbus Serum Company, a full service distributor of companion-pet
veterinary supplies, equipment and pharmaceuticals, with sales of
approximately $166 million in 2007. Serving veterinarians in the Midwest
and mid-Atlantic regions, Columbus Serum will significantly strengthen
Webster’s current competitive position in these markets.
Headquartered in Columbus, Ohio, Columbus Serum has established a strong
reputation for customer service and a substantial presence in its
regional markets over the past 86 years. The company serves its
customers through more than 60 territory sales representatives and over
50 in-house customer service representatives. A long history of respect
exists between the Webster and Columbus Serum organizations. Bob
Peterson, president of Columbus Serum, will join Webster as regional
sales director for the Central Region, based in Columbus. Bruce
Peterson, senior vice president of Columbus Serum, will become Webster’s
vice president of business development also based in Columbus.
George Henriques, president of Webster Veterinary Supply, said: “In
addition to bolstering our competitive position in the Midwest and
mid-Atlantic markets, the acquisition of this highly respected
distributor expands the range of products and services available to
Columbus Serum’s customers, while creating additional opportunities for
the employees of this family-owned firm founded in 1922. Columbus Serum
also represents an excellent strategic fit with Webster, since both
companies share a strong commitment to a value-added, full-service
approach to the companion-pet veterinary supply marketplace.”
About Patterson Companies, Inc.
Patterson Companies, Inc. is a value-added distributor serving the
dental, companion-pet veterinarian and rehabilitation supply markets.
Dental Market
As Patterson’s largest business, Patterson
Dental provides a virtually complete range of consumable dental
products, equipment and software, turnkey digital solutions and
value-added services to dentists and dental laboratories throughout
North America.
Veterinary Market
Webster Veterinary is the nation’s second largest distributor of
consumable veterinary supplies, equipment and software, diagnostic
products, vaccines and pharmaceuticals to companion-pet veterinary
clinics.
Rehabilitation Market
Patterson Medical is the world’s leading distributor of rehabilitation
supplies and non-wheelchair assistive patient products to the physical
and occupational therapy markets. The unit’s global customer base
includes hospitals, long-term care facilities, clinics and dealers.
This release contains forward-looking statements as defined in the
Private Securities Litigation Reform Act of 1995. Forward-looking
statements are information of a nonhistorical nature and are subject to
risks and uncertainties that are beyond the Company’s ability to
control. The Company cautions shareholders and prospective investors
that the following factors, among others, may cause actual results to
differ materially from those indicated by the forward-looking
statements: competition within the dental, veterinary, and
rehabilitative and assistive living supply industries; changes in the
economics of dentistry, including reduced growth in expenditures by
private dental insurance plans, the effects of economic conditions and
the effects of healthcare reform, which may affect future per capita
expenditures for dental services and the ability and willingness of
dentists to invest in high-technology products; the effects of
healthcare related legislation and regulation which may affect
expenditures or reimbursements for rehabilitative and assistive
products; changes in the economics of the veterinary supply market,
including reduced growth in per capita expenditures for veterinary
services and reduced growth in the number of households owning pets; the
ability of the Company to maintain satisfactory relationships with its
sales force; unforeseen operating risks; unexpected loss of key senior
management personnel; risks associated with the dependence on
manufacturers of the Company’s products; and the ability of the Company
to successfully integrate the recent acquisitions into its existing
business. Forward-looking statements are qualified in their entirety by
the cautionary language set forth in the Company's filings with the
Securities and Exchange Commission, including its Form 10-K for fiscal
year 2007.
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