Patterson Veterinary Supply Becomes New Name of Patterson Companies' Webster Veterinary Unit
ST. PAUL, Minn.--(BUSINESS WIRE)-- Patterson Companies, Inc. (NAS: PDCO) today announced that its Webster Veterinary Supply unit will be renamed Patterson Veterinary Supply, effective January 1, 2013, in a move aimed at leveraging the Patterson brand across its three businesses, which also include Patterson Dental Supply and Patterson Medical. Patterson Veterinary is one of the nation's leading full-service, value-added distributors of products and services to companion-pet veterinarians.
George Henriques, president of Patterson Veterinary, commented: "By further leveraging the Patterson brand, we are strengthening our visibility and position in the U.S. companion-pet veterinary market. We will remain the same company operationally, but our thousands of customers will now know at a glance that we are backed by the highly respected Patterson name. We believe our closer public identification with Patterson will also facilitate our marketing initiatives in this growing market. As part of this effort, we will launch in early January Patterson Veterinary's new website, www.pattersonvet.com, which will offer many upgraded features including an enhanced online ordering experience."
He continued: "Since Webster was acquired by Patterson in 2001, we have grown our annual sales from approximately $150 million to $735 million in fiscal 2012 and established a national geographic footprint through a combination of internal growth and strategic acquisitions. Supported by Patterson's significant financial resources, infrastructure and technological capabilities, we have continually expanded our offerings of consumable supplies, equipment, technology solutions and value-added services, which have enabled us to capture a share of the U.S. companion-pet veterinary market in excess of 20%. This record of success has been generated by our relationship with Patterson, making it only logical to formally extend the Patterson brand name to our business."
Scott P. Anderson, Patterson Companies' president and chief executive officer, added: "Webster has been one of our growth engines in recent years, and now that this business carries the Patterson brand, we are confident Patterson Veterinary will continue on its trajectory of growth and profitability well into the future."
About Patterson Companies, Inc.
Patterson Companies, Inc. (www.pattersoncompanies.com) is a value-added distributor serving the dental, companion-pet veterinarian and rehabilitation supply markets.
As Patterson's largest business, Patterson Dental provides a virtually complete range of consumable dental products, equipment and software, turnkey digital solutions and value-added services to dentists and dental laboratories throughout North America.
Patterson Veterinary is a leading distributor of consumable veterinary supplies, equipment and software, diagnostic products, vaccines and pharmaceuticals to companion-pet veterinary clinics.
Patterson Medical is the world's leading distributor of rehabilitation supplies and non-wheelchair assistive patient products to the physical and occupational therapy markets. The unit's global customer base includes hospitals, long-term care facilities, clinics and dealers.
This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are information of a non-historical nature and are subject to risks and uncertainties that are beyond the Company's ability to control. The Company cautions shareholders and prospective investors that the following factors, among others, may cause actual results to differ materially from those indicated by the forward-looking statements: competition within the dental, veterinary, and rehabilitative and assistive living supply industries; changes in the economics of dentistry, including reduced growth in expenditures by private dental insurance plans, the effects of economic conditions and the effects of healthcare reform, which may affect future per capita expenditures for dental services and the ability and willingness of dentists to invest in high-technology products; the effects of healthcare related legislation and regulation which may affect expenditures or reimbursements for rehabilitative and assistive products; changes in the economics of the veterinary supply market, including reduced growth in per capita expenditures for veterinary services and reduced growth in the number of households owning pets; the ability of the Company to maintain satisfactory relationships with its sales force; unexpected loss of key senior management personnel; unforeseen operating risks; risks associated with the dependence on manufacturers of the Company's products; and the ability of the Company to successfully integrate the recent acquisitions into its existing business. Forward-looking statements are qualified in their entirety by the cautionary language set forth in the Company's filings with the Securities and Exchange Commission.
Patterson Companies, Inc.
R. Stephen Armstrong, 651-686-1600
Executive Vice President & CFO
Equity Market Partners
Richard G. Cinquina, 904-415-1415
KEYWORDS: United States North America Minnesota
The article Patterson Veterinary Supply Becomes New Name of Patterson Companies' Webster Veterinary Unit originally appeared on Fool.com.