Mars Inc. will buy veterinary equipment firm Heska Corp. in a $1.3 billion deal. The companies expect to close the deal in the second half of 2023.
In a joint statement, Mars said it would pay $120 per share to Heska's shareholders.
Heska will join Mars Petcare’s new division, Science & Diagnostics, which includes Antech Diagnostics. Antech’s businesses include reference laboratories, veterinary imaging and education, and telemedicine with board-certified specialist support services.
Mars Petcare also has an international network of more than 2,500 pet hospitals including Banfield, BluePearl, Mount Pleasant, and VCA.
Because of a rise in pet ownership, Mars is looking to expand its animal diagnostics business. Heska makes diagnostic equipment such as cancer screening tests for animals and sells its products across the United States and internationally.