Covetrus
| Company type | Private |
|---|---|
| Industry | Animal health |
| Predecessor | Henry Schein Animal Health, Vets First Choice |
| Founded | 2019 |
| Headquarters | Portland , United States |
Area served | North America, Europe, Asia-Pacific |
| Products | Animal health consumables, supply chain solutions, veterinary software platforms, prescription management services, practice management applications, data analytics, client communication tools |
| Parent | Clayton, Dubilier & Rice and TPG Inc. |
Covetrus, Inc. is a U.S.-based enterprise specializing in animal health products and associated services. Prior to 2019, it functioned as the animal health segment within Henry Schein and VetsFirstChoice before being separated into an independent entity. By 2021, Covetrus achieved the 593rd position on the Fortune 1000 ranking according to revenue.
History
In 2006, Henry Schein acquired NLS Animal Health, a company engaged in veterinary distribution. Three years later, in 2009, Henry Schein partnered with Butler Animal Health Supply to create a joint venture named Butler Schein Animal Health, which became the leading veterinary sales and distribution firm in the United States.
Henry Schein pursued international growth by purchasing AUV Veterinary Services, based in the Netherlands, for approximately $40 million in 2012. The following year, Butler Schein Animal Health underwent rebranding and adopted the name Henry Schein Animal Health. Expansion continued with a merger involving Scil Animal Care in 2015 and the acquisition of RxWorks, a provider of veterinary practice management software, in 2016.
In 2019, Henry Schein divested its animal health division by merging it with Portland’s Vets First Choice to establish Covetrus. This newly formed company was subsequently listed on Nasdaq, with ownership split roughly as 63% for Henry Schein shareholders and 37% for those of Vets First Choice.
In 2021, Covetrus faced legal action from online pet retailer Chewy Inc., which accused the company of unlawfully redirecting pet medication and food sales away from Chewy to Covetrus.
Privatization
On May 25, 2022, Clayton, Dubilier & Rice together with TPG Inc. announced their intent to acquire Covetrus for $4 billion. This transaction reached completion in October of the same year.
Products
Covetrus provides animal health consumables to both wholesale and retail markets. Its product portfolio includes supply chain solutions, veterinary software platforms, prescription management services, practice management applications, data analytics capabilities, and tools for client communication. The company supports nearly 100,000 veterinary practices throughout North America, Europe, and the Asia-Pacific region.