| |
IDEXX Laboratories Announces Acquisition of Vita-Tech Canada Inc.
Westbrook, Maine, March 6, 2007—IDEXX Laboratories, Inc. (NASDAQ:IDXX), today announced that it has acquired all of the outstanding shares of Vita-Tech Canada Inc. Based in Toronto, and with additional operations in Montreal, Vita-Tech is the largest provider of reference laboratory testing services to veterinarians in Canada.
IDEXX expects that the acquisition will increase its 2007 revenues by approximately $15 million to $17 million, and reduce its 2007 fully diluted earnings per share by slightly more than $0.01, attributable to discrete acquisition-related expenses. The transaction is expected to be accretive to earnings beginning in 2008.
About IDEXX Laboratories
IDEXX Laboratories, Inc. is a leader in companion animal health, serving practicing veterinarians around the world with innovative, technology-based offerings, including a broad range of diagnostic products and services, practice management systems and pharmaceuticals. IDEXX products enhance the ability of veterinarians to provide advanced medical care and to build more economically successful practices. IDEXX is also a worldwide leader in providing diagnostic tests and information for the production animal industry and tests for the quality and safety of water and milk. Headquartered in Westbrook, Maine, IDEXX Laboratories employs more than 3,500 people and offers products to customers in over 100 countries.
Note Regarding Forward-Looking Statements
Contact: Merilee Raines, Chief Financial Officer, 1-207-556-8155
|