| Market Capitalization (Millions $) |
1,920 |
| Shares
Outstanding (Millions) |
23 |
| Employees |
798 |
| Revenues (TTM) (Millions $) |
245 |
| Net Income (TTM) (Millions $) |
27 |
| Cash Flow (TTM) (Millions $) |
-48 |
| Capital Exp. (TTM) (Millions $) |
6 |
Business Description
Abaxis, Inc. is a developer, manufacturer, and marketer of portable blood analysis systems worldwide, which are used in various medical specialties in human or veterinary patient care to provide clinicians with rapid blood constituent measurements. It is also a leading global provider of veterinary point-of-care diagnostic products. Abaxis provides advanced technology, tools, and services that support best medical practices, allowing physicians and veterinarians to respond to the health needs of their clients at the point of care while operating economically and profitably.
Abaxis primarily offers point-of-care diagnostic instruments and consumables used in the medical and veterinary markets, including portable blood chemistry analysis systems that provide clinicians with rapid blood constituent measurements. The company also sells point-of-care diagnostic products, including instruments, consumables, and rapid tests, to help customers improve the efficiency and effectiveness of their healthcare operations.
Abaxis is a California corporation founded in 1989, and its sales have increased over the years due to the growing installed base of its blood chemistry analyzers and the expansion of test methods provided to the medical and veterinary markets. The company has also expanded its diagnostic products and service offerings in the veterinary market.
Abaxis previously provided veterinary reference laboratory diagnostic and consulting services for veterinarians through its Abaxis Veterinary Reference Laboratories ("AVRL") division. However, it sold substantially all of the assets of AVRL to Antech Diagnostics, Inc., the VCA laboratory division, for $21.0 million in cash pursuant to an asset purchase agreement in March 2015. The company has reclassified the assets and liabilities of AVRL as discontinued operations on its consolidated balance sheets for all periods presented, and the results of operations of AVRL as discontinued operations on its consolidated statements of income for all periods presented.
On May 15, 2018, Abaxis entered into an Agreement and Plan of Merger with Zoetis Inc., a Delaware corporation, and Zeus Merger Sub, Inc., a California corporation, and an indirect wholly-owned subsidiary of Zoetis. Pursuant to the Merger Agreement, Merger Sub merged with and into Abaxis, with Abaxis continuing as the surviving corporation and a wholly-owned subsidiary of Zoetis. As a result of the Merger, each share of common stock, no par value, of Abaxis issued and outstanding immediately prior to the effective time of the Merger was converted into the right to receive $83.00 in cash, without interest, per share.
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