Zoetis acquires Phoenix Labs
Zoetis announced the acquisition of Phoenix Central Laboratory, a full service veterinary reference laboratory company. With the addition of reference laboratory services, Zoetis now can provide more comprehensive diagnostics products and services as an enhanced value to veterinarians in the U.S.
Phoenix Lab, founded in 1989 and headquartered near Seattle, serves veterinary clinics in 20 states, primarily in the Pacific Northwest, with complete clinical and anatomic pathology testing as well as microbiology, serology, hematology, chemistry, urinalysis and other diagnostic tests for canine, feline, avian and equine health needs.
Veterinary Diagnostics: A Growing and Vital Category of Animal Health
The global veterinary diagnostics category, which includes reference laboratory and point-of-care diagnostics, is estimated to be $4 billion, with compound annual growth of approximately 10% over the past three years1. Zoetis expects the diagnostics category to continue to grow faster than the animal health industry, with growth in the mid to high single digits; this growth is driven by international adoption of point-of-care diagnostic instruments due to pet owners’ increasing interest in pet wellness trends, rising medicalization rates, increasing standards of veterinary care and the convenience of in-clinic testing1.
In 2018, Zoetis acquired Abaxis, Inc. and its world-class portfolio of VetScan diagnostic instruments and rapid tests. Through this acquisition, Zoetis became a leader in the development, manufacture, and marketing of veterinary point of care diagnostic instruments and consumables.
