Heska aiming to raise $75m through private offering, plans to finance expansion

摘要

Veterinary diagnostics and specialty products business Heska is preparing to raise substantial funding through a private offering. Sales from the firm's core companion animal (CCA) unit were down 3.1% to $26.3m in the third quarter. The CCA unit is comprised of: pharmaceuticals, vaccines and diagnostics (PVD); point-of-care (POC) lab consumables; lab and 'other' POC instruments; infusion pump POC instruments; and POC imaging.The decrease in CCA revenues was due to expected lower sales from Heska's PVD segment - especially the firm's TriHeart heartworm product. PVD revenues were down 52% to $3.5m. However, higher sales of POC lab consumables -up 20.9% to $14m - offset this decrease.