S&P to Add Covetrus to MidCap 400 Index®
PORTLAND, Maine--(BUSINESS WIRE)--Vets First Choice and Covetrus, a global animal-health technology and services company empowering veterinary practices that will result from the expected spin-off and merger of the Henry Schein Animal Health business with Vets First Choice, today announced that Covetrus will be added to the Standard & Poor’s (S&P) MidCap 400 Index®, effective prior to the open of trading on Monday, February 11, 2019. Following the completion of the merger, anticipated to close on February 7, Covetrus will begin regular-way trading on the Nasdaq Stock Market under the symbol CVET on February 8, 2019.
“We are pleased that Covetrus will join the ranks of the S&P MidCap 400 Index®,” said incoming President and Chief Executive Officer Benjamin Shaw. “Being recognized by the S&P reflects our position in the growing global animal health market. We look forward to the launch of Covetrus and to empowering veterinarians to improve their patients’ health and thrive as small business owners.”
The S&P MidCap 400® Index provides investors with a benchmark for mid-sized companies. The Index, which is distinct from the LargeCap S&P 500®, measures the performance of mid-sized companies, reflecting the distinctive risk and return characteristics of this market segment.
Upon the closing of the transaction, Covetrus will be a global animal-health technology and services company dedicated to empowering veterinary practice partners to drive improved health and financial outcomes. We’re bringing together products, services, and technology into a single platform that connects our customers to the solutions and insights they need to work best. Our passion for the well-being of animals and those who care for them drives us to advance the world of veterinary medicine. Covetrus is headquartered in Portland, Maine, with more than 5,000 employees, serving over 100,000 customers around the globe.
In accordance with the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995, the parties provide the following cautionary remarks regarding important factors that, among others, could cause future results to differ materially from the forward-looking statements, expectations and assumptions expressed or implied herein. These statements are identified by the use of such terms as "may," "could," "expect," "intend," "believe," "plan," "estimate," "forecast," "project," "anticipate" or other comparable terms. Such forward-looking statements include, but are not limited to, statements about the benefits of the transaction, including future financial and operating results, plans, objectives, expectations and intentions. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future — including statements relating to anticipated synergies and the expected timetable for completing the proposed transaction — are forward-looking statements.
All forward-looking statements made by us are subject to risks and uncertainties and are not guarantees of future performance. Therefore, you should not rely on any of these forward-looking statements. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance and achievements or industry results to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. For example, these forward-looking statements could be affected by factors including, without limitation, risks associated with the ability to consummate the transaction and the timing of the closing of the transaction; the ability to obtain requisite approvals; the ability to successfully integrate operations and employees; the ability to realize anticipated benefits and synergies of the transaction; the potential impact of the announcement of the transaction or consummation of the transaction on relationships, including with employees, customers and competitors; the ability to retain key personnel; the ability to achieve performance targets; changes in financial markets, interest rates and foreign currency exchange rates; and those additional risks and factors discussed in the Registration Statement, including those discussed under the heading "Risk Factors" in the Registration Statement. We undertake no duty and have no obligation to update any forward-looking statements contained herein.
Vice President of Corporate Communications
Vice President of Investor Relations