VCA adds 56 veterinary clinics with $344M stake in Las Vegas chain

VCA ($WOOF) said on February 29 that it would buy up an 80% stake in Companion Animal Practices North America (CAPNA), a Las Vegas-based chain of 56 veterinary hospitals. CAPNA will retain its management team, operating independently while sharing various VCA systems and processes, said VCA CEO Bob Antin in a press release. "We have confidence in this model which is very similar to our Canadian business, which operates under an independent management that takes advantage of VCA's expertise and infrastructure," Antin said. VCA estimates that CAPNA will bring in $200 million in sales this year and will be accretive to earnings. The deal should also result in $116 million from future tax benefits, VCA estimated. The companies expect to close the transaction by July. Release

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