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Henry Schein to buy RxWorks, completes Vetstreet purchase

Staff writer |
Henry Schein signed an agreement to acquire RxWorks, a provider of veterinary practice management software.

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RxWorks had sales for the 12 months ended June 30, 2015 of approximately $7 million. Henry Schein expects the acquisition to close in the second half of January 2016, and to be dilutive by less than $0.01 to 2016 earnings per share, and accretive to 2017 earnings per share by approximately $0.01.

Founded in 1988 with headquarters in Brisbane, Queensland, Australia, RxWorks has 68 Team Members and an installed base of more than 1,500 veterinary clinics in 19 countries worldwide.

RxWorks will continue to be led by its current management team. Upon closing, RxWorks will become part of Henry Schein's Global Animal Health Practice Solutions business. Financial details and terms of the transaction were not disclosed.

Henry Schein completed the purchase of 80.1 percent interest in Vetstreet, a software as a service (SaaS) provider of marketing solutions and health information analytics to veterinary practices and animal health product manufacturers. The transaction was announced on November 2, 2015.

Founded in 2008 and headquartered in Yardley, Pa., Vetstreet offers veterinary practices a fully integrated suite of online and offline products and services that improve veterinary practices' ability to communicate with pet owners for their pet needs and enhance compliance with wellness visits.

Vetstreet had sales in 2014 of approximately $43 million. The remaining minority interest in Vetstreet will continue to be owned by VCA Inc.

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