VCA ACQUIRES TERESITA ANIMAL HOSPITAL IN PASADENA, CALIF.
VCA ACQUIRES TERESITA ANIMAL HOSPITAL IN PASADENA, CALIF. SANTA MONICA, Calif., Jan. 9 /PRNewswire/ -- Veterinary Centers of America (AMEX: VET/VET.W), one of the largest providers of veterinary services in the United States, has acquired Teresita Animal Hospital, Pasadena, Calif., for cash and notes subject to financial performance, VCA Chairman and Chief Executive Officer Robert L. Antin announced today. Established in 1978, Teresita is a leading veterinary center in the Pasadena market, with special expertise in exotic animals and birds. Antin noted that the Teresita Hospital acquisition was the second VCA has announced in approximately three weeks. The company announced the purchase of Asher Veterinary Hospital, Redding, Calif., on Dec. 17. "The year 1991 was essentially a year of raising capital, culminating in VCA's initial public offering in October," Antin said. "Now, with two acquisitions in three weeks, we are signalling our intention to use that capital to grow VCA in 1992 by selective purchasing of animal health-care facilities. "These two latest acquisitions exemplify our growth strategies," he said. "We intend to establish our presence in new U.S. markets, as we did in acquiring the Asher Hospital, and we intend to build market share in established VCA markets by filling in the spaces in the geographical areas we cover, as we're doing in the Teresita acquisition." Teresita Animal Hospital in Pasadena is located approximately five miles from VCA's Santa Anita Small Animal Hospital in Monrovia, Calif. VCA owns and operates a network of 14 veterinary hospitals and a veterinary clinical laboratory in Los Angeles and Orange Counties, Calif.; San Jose, Calif.; Redding, Calif.; Phoenix and Lakewood, Colo. -0- 1/9/92 /CONTACT: Robert L. Antin, chairman and CEO of Veterinary Centers of America, 310-829-7533; or Thomas O. Wick of the Financial Relations Board, 818-783-2400, for Veterinary Centers of America/ (VET/VET.W) CO: Veterinary Centers of America; Teresita Animal Hospital ST: California IN: SU: TNM
EH-CH -- LA008 -- 8116 01/09/92 10:01 EST
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|Date:||Jan 9, 1992|
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