Idexx buys Vita-Tech for undisclosed sum |
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Tue, 06 Mar 2007 23:27
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WESTBROOK, Maine (AP) - Idexx Laboratories Inc., an animal health products company, said Tuesday it bought Vita-Tech Canada Inc. for an undisclosed sum.Vita-Tech, based in Toronto, provides laboratory testing services to veterinarians in Canada.Idexx expects the acquisition to add $15 million to $17 million to 2007 revenue, and to reduce earnings for the year by a penny per share, due to expenses related to the deal.For 2008, the acquisition is expected to add to earnings.Shares of Idexx were trading at $84.98 in the after-hours session, up 13 cents from Tuesday's closing price of $84.85 on the Nasdaq Stock Market.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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