Zoetis Completes Acquisition of Basepaws, an Innovative Leader in Petcare Genetics, to Strengthen its Portfolio of Precision Animal Health Solutions

Rhea-AI Summary

Zoetis (NYSE:ZTS) has completed the acquisition of Basepaws, a petcare genetics company specializing in genetic testing and health risk assessments for pets. This strategic move enhances Zoetis' precision animal health portfolio, allowing for better disease detection and management for pet owners and veterinarians. Financial details of the acquisition were not disclosed. Zoetis aims to leverage Basepaws' insights for future innovations in petcare, supporting their commitment to advancing animal health.

Positive

• Acquisition enhances Zoetis' portfolio in precision animal health.
• Basepaws' genetic testing capabilities can lead to early disease detection.
• Strengthens Zoetis' relationship with veterinarians and pet owners.

Negative

• None.

PARSIPPANY, N.J.--(BUSINESS WIRE)-- Zoetis Inc. (NYSE:ZTS) today announced the completion of its acquisition of Basepaws, a privately held petcare genetics company, which provides pet owners with genetic tests, analytics and early health risk assessments. The genetic insights from Basepaws help pet owners and veterinarians understand an individual pet’s risk for disease and can lead to more meaningful engagements and increased likelihood of early detection and treatment of disease. The acquisition was first announced on June 7^th, and financial terms of the transaction were not disclosed.

“When we first met Basepaws CEO Anna Skaya and the team, we were immediately drawn to their passion for pets and the role that genetic testing and data analytics can have in advancing animal care – a purpose that drives us every day,” said Zoetis CEO Kristin Peck. “The addition of Basepaws will enhance our portfolio in the precision animal health space and inform our future pipeline of petcare innovations. Working together, we can continue to provide veterinarians and pet owners with more comprehensive ways to proactively manage the health, wellness and quality of care for their animals.”

About Basepaws

Basepaws is a petcare genetics company that builds early detection health risk tests based on genetic and microbiome data. Basepaws is committed to companion animal health research, and it has the world’s first at-home genetic testing platform for cats. Founded in 2017 by Anna Skaya, the company is based in Los Angeles, CA. For more information, visit www.basepaws.com.

About Zoetis

As the world’s leading animal health company, Zoetis is driven by a singular purpose: to nurture our world and humankind by advancing care for animals. After 70 years innovating ways to predict, prevent, detect, and treat animal illness, Zoetis continues to stand by those raising and caring for animals worldwide – from livestock farmers to veterinarians and pet owners. The company’s leading portfolio and pipeline of medicines, vaccines, diagnostics and technologies make a difference in over 100 countries. A Fortune 500 company, Zoetis generated revenue of $7.8 billion in 2021 with approximately 12,100 employees. For more information, visit www.zoetis.com.

DISCLOSURE NOTICES

Forward-Looking Statements: This press release contains forward-looking statements, which reflect the current views of Zoetis with respect to: expectations regarding the performance of acquired companies and our ability to integrate new businesses; expectations regarding the financial impact of acquisitions; business plans or prospects, future operating or financial performance, future guidance, future operating models; R&D costs; timing and likelihood of success; expectations regarding products, product approvals or products under development, expected timing of product launches; the impact of the coronavirus (COVID-19) global pandemic and any recovery therefrom on our business, supply chain, customers and employees; future use of cash, dividend payments and share repurchases; tax rate and tax regimes and any changes thereto; and other future events. These statements are not guarantees of future performance or actions. Forward-looking statements are subject to risks and uncertainties. If one or more of these risks or uncertainties materialize, or if management's underlying assumptions prove to be incorrect, actual results may differ materially from those contemplated by a forward-looking statement. Forward-looking statements speak only as of the date on which they are made. Zoetis expressly disclaims any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. A further list and description of risks, uncertainties and other matters can be found in our Annual Report on Form 10-K for the fiscal year ended December 31, 2021, including in the sections thereof captioned “Forward-Looking Statements and Factors That May Affect Future Results” and “Item 1A. Risk Factors,” in our Quarterly Reports on Form 10-Q and in our Current Reports on Form 8-K. Such risks and uncertainties may be amplified by the COVID-19 global pandemic and its potential impact on the global economy and our business. These filings and subsequent filings are available online at www.sec.gov, www.zoetis.com, or on request from Zoetis.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20220621006057/en/

Media Contacts:

Bill Price

1-973-443-2742 (o)

William.price@zoetis.com



Kristen Seely

1-973-443-2777 (o)

Kristen.seely@zoetis.com



Anna Skaya

1-949-426-9229 (o)

anna@basepaws.com



Investor Contact:

Steve Frank

1-973-822-7141

steve.frank@zoetis.com

Source: Zoetis Inc.

FAQ

What is the significance of Zoetis' acquisition of Basepaws?

The acquisition enhances Zoetis' precision animal health offerings, providing advanced genetic testing for pet owners and veterinarians.

How will Basepaws contribute to Zoetis' business?

Basepaws will provide valuable genetic insights that can improve early disease detection and management in pets.

When was the acquisition of Basepaws by Zoetis announced?

The acquisition was first announced on June 7th, prior to its completion.

What can we expect from the acquisition's impact on Zoetis' future?

The acquisition is expected to inform Zoetis' future pipeline of petcare innovations, enhancing their ability to provide comprehensive animal health solutions.