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Henry Schein names animal health spin-off Covetrus

Henry Schein Inc. and Vets First Choice will name their new standalone company Covetrus, which will result from a spin-out of Henry Schein's animal health business.

Covetrus will be a new animal health business focused on the companion, equine and large-animal veterinary markets, Henry Shein said in a Dec. 20 press release.

The standalone company results from the spin-off of Henry Schein's Animal Health business, and subsequent merger with Vets First Choice that was announced in April.

The transaction is set to close in the first quarter of 2019, according to the release.

Henry Schein Inc. provides healthcare products and services including dental practitioners and laboratories, animal health clinics and physician practices.