Today's Veterinary Business

JUN 2018

Today’s Veterinary Business provides information and resources designed to help veterinarians and office management improve the financial performance of their practices, allowing them to increase the level of patient care and client service.

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6 Today's Veterinary Business News Briefs News Briefs Zoetis to acquire Abaxis Veterinary drug giant Zoetis Inc. agreed to buy diagnostic equipment maker Abaxis Inc. for $1.9 billion. The deal is expected to close by year's end. Abaxis reported 2017 rev- enue of $227 million, some 23 times less Zoetis' record $5.3 billion. Vet services tax is coming Kentucky lawmakers approved a 6 percent tax on companion animal veterinary services starting July 1. Equine and food animal veterinary services are exempt. An effort is underway to repeal the tax in 2019. 2 specialties win approval The American Veterinary Medical Association board of directors fully recognized two specialties. The American College of Veterinary Sports Medicine and Rehabilitation received provisional recognition as a veterinary specialty organization in 2010. The exotic companion mam- mal specialty under the American Board of Veterinary Practitioners won provision recognition in 2008. NAVTA's Burns now editor Kara M. Burns, MS, MEd, LVT, VTS, VTS-H, was named editor-in-chief of the peer-reviewed journal Today's Veterinary Nurse, which like Today's Veterinary Business is published by the North American Veterinary Community. Burns is president of the National Association of Veter- inary Technicians in America. She also will serve as director of veteri- nary nursing for NAVC Publishing. VetSummit is set for Dallas Building a stronger veterinary prac- tice is the theme of the 2018 VetSum- mit, a continuing education confer- ence organized by Henry Schein Inc. and set for Oct. 10 to 12 in Dallas. The annual event, formerly called the Veterinary Technology Summit, will focus on business, practice manage- ment and technology subjects. Learn more at http://bit.ly/2jylyDX. Appetite stimulant is OKd Kindred Biosciences Inc. is planning the summer 2018 release of what it called the first FDA-approved trans- dermal medication for the manage- ment of weight loss in cats. Applied to the inner ear once a day, Mirataz (mirtazapine transdermal ointment) resulted in significant weight gain in as little as 14 days, studies found. AABP to meet in Phoenix Registration for the 51st American Association of Bovine Practitioners annual conference is available at www.aabp.org. The meeting will take place Sept. 13 to 15 in Phoenix. Petland hires ex-Petco vet Consultant and former Petco exec- utive Thomas Edling, DVM, MSpVM, MPH, was named consulting veter- inarian for the Petland retail chain. Dr. Edling was Petco's vice president of veterinary medicine for 15 years. Patterson backs VNI St. Paul, Minnesota, distributor Pat- terson Veterinary announced its sup- port of the Veterinary Nurse Initiative, a campaign to unite the veterinary technician profession under a single title, single credentialing require- ments and single scope of practice. Vets get the 7-year itch Veterinarians looking for a new challenge or better work-life bal- ance tend to leave clinical practice at the seven-year mark of their career, a British Veterinary Associ- ation survey showed. "This has to be a wakeup call to all employers to think about whether we can do things differently to support our colleagues," said BVA Senior Vice President Gudrun Ravetz, BVSc. AVMA at 91,000 members Membership in the American Veter- inary Medical Association surpassed 91,000 veterinarians, a record. WVC switches to February WVC's annual conference will move from March to February in 2019 and last four days instead of five. The schedule changes followed an at- tendee survey. The 2019 conference is set for Feb. 17 to 20 at Mandalay Bay Convention Center in Las Vegas. Clean up on grooming Veterinary practices looking for another revenue stream might want to consider grooming services. Pack- aged Facts reported that U.S. sales of pet grooming and spa services and products hit nearly $3 billion in 2017, a compounded annual growth rate of more than 5 percent since 2013. New owner for OptiGen Mars Petcare acquired OptiGen, a DNA diagnostics company spe- cializing in canine inherited eye disorders. Included are exclusive licenses to a portfolio of genetic disease tests patented in the United States, Australia and across Europe, and a biobank of more than 150,000 samples collected over 20 years. Pet spending sets record The American Pet Products Associa- tion reported that overall spending in the pet industry reached a record $69.51 billion in 2017. Announced at Global Pet Expo, the figure sur- passed the 2016 number by nearly $3 billion, a 4 percent increase. Hospital chain names CEO Community Veterinary Partners, which co-owns and manages 45 animal hospitals in 10 states, hired a human health care veteran to take over as CEO. Kevin Ruffe, MBA, served as chief growth officer at MedExpress, where he oversaw an expansion to 250 urgent-care facili- ties across the United States. Brakke issues pain report Brakke Consulting's latest multiclient study takes an in-depth look at pain management products for dogs and cats. The study also profiles the veterinary market for analgesics, nutritional supplements, thera- peutic diets for joint support, and complementary therapies. More information is available at lfondon@ brakkeconsulting.com. Looking into the future The American Veterinary Medical Association and the Association of American Veterinary Medical Col- leges created a panel that will take a "big picture" look at the profession. The Veterinary Futures Commission, made up of 10 people with links to veterinary medicine, will meet up to three times a year. Mars teams with Whistle Mars Petcare plans to enroll more than 200,000 client-owned dogs in a three-year longitudinal study that aims to identify links between pet activity, behavior and health. Partic- ipating dogs will wear the data-col- lecting Whistle Fit. Learn more at www.petinsightproject.com. BI vaccine plant due in '20 Boehringer Ingelheim is spending $80 million to construct an avian vaccine plant in Lyon, France. The factory, set to open in spring 2020, will serve the world market with the exception of the United States. CSU gets endowed chair The Colorado State University College of Veterinary Medicine and Biomedical Sciences is establishing the Jorgensen Laboratories Inc. Chair in Clinical Sciences. AVMA hires PR chief The American Veterinary Medical Association dipped into human health care to find its new commu- nications director. John Eckroth last worked as director of digital experi- ence and strategy at the Blue Cross Blue Shield Association. Fear Free for pet owners Fear Free program founder Marty Becker, DVM, co-authored a book for dog owners. "From Fearful to Fear Free: A Positive Program to Free Your Dog from Anxiety, Fears, and Phobias" explains how excessive barking, aggression, destructive be- haviors and house-soiling can germi- nate from fear, anxiety and stress. Vet clinics eyed at Walmart PetIQ, the new owner of the VIP Petcare network, plans to open 20 veterinary clinics inside Walmart stores. PetIQ, a manufacturer of flea and tick preventives, supplements and treats, purchased VIP Petcare in January 2018 for $220 million. Vetsource adds drug line The home-delivery service Vet- source will make compounded medications available to veteri- narians and their clients through Wedgewood Pharmacy.

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