VCA Antech Adds to Pet Clinics

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Animal health care provider VCA Antech Inc. said it completed its $153 million acquisition of Fairfield, Conn.-based Healthy Pet Corp. on Friday.


Healthy Pet, which was majority owned by Washington D.C.-based Allied Capital Corp., operates 44 animal hospitals with annual revenue of about $80 million. Los Angeles-based VCA expects the merger to add slightly to net income starting next year.


VCA owns the largest network of freestanding veterinary hospitals and clinical laboratories in the country, and supplies diagnostic imaging equipment to the veterinary industry.


In connection with the deal, VCA amended its credit facility to allow for an additional $160 million in senior term notes to be issued. The amendment arranged by Goldman Sachs and Wells Fargo leaves the company with $532 million of outstanding senior term notes and a $75 million revolving credit facility.


Shares of VCA closed up 2 cents to $39.60 on Friday.

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