- Neogen Corporation NEOG has acquired CAPInnoVet, Inc, an Atlanta-based companion animal health company. Deal terms were not disclosed.
- CAPInnoVet, founded in 2014, provides pet medications to the veterinary market.
- Neogen's acquisition of CAPInnoVet will provide entry into the fast-growing over $12 billion retail parasiticide market.
- CAPInnoVet will integrate into Neogen's Animal Safety business segment, including veterinary instruments, pharmaceuticals, vaccines, and diagnostic products.
- "The acquisition of CAPInnoVet provides NEOGEN a strategic pathway into the parasiticide market and naturally aligns within our Animal Safety business segment," said Doug Jones, Neogen's Chief Commercial Officer.
- Price Action: NEOG stock is down 3.09% at $40.10 during the market session on the last check Monday.
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