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Covetrus's Business Segments
Covetrus's reported revenue by business segment and by geographic region, quarterly and annual, normalized against the consolidated income statement. Free below: the top 3 rows per table, this quarter and this fiscal year. Subscriber access adds the full segment history and operating income by segment.
Segment Data As of Q2 FY2022
Reportable Segments
3
Largest Segment
North America
Total Revenue
$ 1,217
Regions Reported
-
Revenue Share by Reportable Segment - Q2 FY2022
- North America64.3%
- Europe26.9%
- Asia Pacific and Emerging Markets9%
Revenue by Reportable Segment - Q2 FY2022
| Segment | Revenue (Millions) | % of Total |
|---|---|---|
| North America | $ 783 | 64.3% |
| Europe | $ 327 | 26.9% |
| Asia Pacific and Emerging Markets | $ 109 | 9% |
Revenue by Product & Service Category - Q2 FY2022
- Supply Chain84.6%
- Prescription Management13.4%
- Software Solutions2.1%
Revenue by Product & Service Category - Q2 FY2022
| Category | Revenue (Millions) | % of Total |
|---|---|---|
| Supply Chain | $ 1,029 | 84.6% |
| Prescription Management | $ 163 | 13.4% |
| Software Solutions | $ 25 | 2.1% |
Product and service categories are a supplemental disclosure and are not required to sum to consolidated revenue or to the reportable segments above.
Description of Covetrus
Covetrus Inc. is a global animal health technology and services company that was formed in February 2019 following the merger of two companies: Vets First Choice and Henry Schein Animal Health. The company is headquartered in Portland, Maine, and has offices and operations in more than 25 countries, serving veterinary practices, animal welfare organizations, and pet owners.
Covetrus offers a comprehensive suite of technology-enabled products and services that include software, pharmacy, and supply chain solutions, as well as diagnostic products, vaccines, and equipment. The company's technology platform provides veterinary practices with a suite of tools to manage their practice operations, patient care, and inventory. This platform, called Covetrus Connect, allows veterinarians to manage their practice data from anywhere and at any time, with a suite of integrated applications designed to make their lives easier.
One of Covetrus' unique offerings is its prescription management service, which simplifies the prescription-writing process for veterinarians and pet owners. The service allows veterinarians to send prescriptions directly to Covetrus, which will then contact the pet owner, handle the payment processing, and deliver the medication directly to them.
Covetrus also operates an online marketplace called Covetrus North America (CNA), which provides veterinary practices with access to a wide range of animal health products and supplies from more than 2,800 suppliers. The platform provides a streamlined ordering process, competitive pricing, and access to product information and customer support.
The company has also established relationships with pet owners and animal welfare organizations. Covetrus offers a range of products and services aimed at improving pet health and wellness, including prescription medications, over-the-counter remedies, and wellness products.
Since its establishment, the company has grown significantly, with more than 5,500 employees globally, generating $4 billion in annual revenue. Covetrus has a strong commitment to innovation and is constantly expanding its offerings to provide better solutions and support to its customers.
Covetrus offers a comprehensive suite of technology-enabled products and services that include software, pharmacy, and supply chain solutions, as well as diagnostic products, vaccines, and equipment. The company's technology platform provides veterinary practices with a suite of tools to manage their practice operations, patient care, and inventory. This platform, called Covetrus Connect, allows veterinarians to manage their practice data from anywhere and at any time, with a suite of integrated applications designed to make their lives easier.
One of Covetrus' unique offerings is its prescription management service, which simplifies the prescription-writing process for veterinarians and pet owners. The service allows veterinarians to send prescriptions directly to Covetrus, which will then contact the pet owner, handle the payment processing, and deliver the medication directly to them.
Covetrus also operates an online marketplace called Covetrus North America (CNA), which provides veterinary practices with access to a wide range of animal health products and supplies from more than 2,800 suppliers. The platform provides a streamlined ordering process, competitive pricing, and access to product information and customer support.
The company has also established relationships with pet owners and animal welfare organizations. Covetrus offers a range of products and services aimed at improving pet health and wellness, including prescription medications, over-the-counter remedies, and wellness products.
Since its establishment, the company has grown significantly, with more than 5,500 employees globally, generating $4 billion in annual revenue. Covetrus has a strong commitment to innovation and is constantly expanding its offerings to provide better solutions and support to its customers.
Covetrus Inc. is a leading animal health technology and services provider that offers a range of products and services to support veterinarians, pet owners, and animal health organizations worldwide. The company operates in three segments, which are:
1. Technology and Software Solutions:
Covetrus provides innovative and advanced technology-based solutions to optimize the workflow of veterinary practices. The company's technology solutions include software, hardware, and online tools to manage inventory, billing, medical records, and other business operations. Some of the popular software products offered by Covetrus include:
- Covetrus Practice Management: A cloud-based veterinary practice management solution that streamlines and automates key operations like scheduling, medical records, billing, and inventory management.
- VetInsite: A client communication platform that allows veterinary practices to stay in touch with pet owners and provide them with relevant updates about their pet's health and wellness.
- ePrescribe: An electronic prescription management system that simplifies the prescription process by enabling veterinarians to transmit prescriptions directly to pharmacies.
2. Diagnostics, Pharmaceuticals, and Consumables:
Covetrus provides a wide range of high-quality diagnostic, pharmaceutical, and consumable products to support the health and wellbeing of animals. The company's portfolio includes a broad range of products from several leading manufacturers, which ensures that its customers have access to the highest quality products at competitive prices. Covetrus offers the following products under this segment:
- Laboratory Diagnostics: Covetrus offers a range of laboratory diagnostic products, including blood tests, fecal exams, urine analysis, and other diagnostic services that help vets diagnose and treat various conditions.
- Pharmaceuticals: Covetrus offers a wide range of animal health products, including prescription drugs, vaccines, nutritional supplements, and other medications that help vets treat various medical conditions and infections.
- Consumables: The company provides an extensive range of consumable products that are used in veterinary clinics daily, like syringes, gloves, catheters, IV fluids, and other supplies.
3. Services:
Covetrus provides a wide range of professional services to support veterinary practices and animal healthcare providers. These services include:
- Consulting: Covetrus offers a consulting service to help veterinary practices improve their operations, reduce costs and improve profitability.
- Education: The company provides educational resources to veterinary professionals to enhance their knowledge, including webinars, digital courses, veterinary CE and more.
- Marketing & Communication: Covetrus offers marketing and communication services to help veterinary clinics grow their business, attract new clients, and improve brand recognition.
Overall, Covetrus offers a comprehensive suite of animal health technology-based products and services, which help improve the animal healthcare industry's efficacy and efficacy.
1. Technology and Software Solutions:
Covetrus provides innovative and advanced technology-based solutions to optimize the workflow of veterinary practices. The company's technology solutions include software, hardware, and online tools to manage inventory, billing, medical records, and other business operations. Some of the popular software products offered by Covetrus include:
- Covetrus Practice Management: A cloud-based veterinary practice management solution that streamlines and automates key operations like scheduling, medical records, billing, and inventory management.
- VetInsite: A client communication platform that allows veterinary practices to stay in touch with pet owners and provide them with relevant updates about their pet's health and wellness.
- ePrescribe: An electronic prescription management system that simplifies the prescription process by enabling veterinarians to transmit prescriptions directly to pharmacies.
2. Diagnostics, Pharmaceuticals, and Consumables:
Covetrus provides a wide range of high-quality diagnostic, pharmaceutical, and consumable products to support the health and wellbeing of animals. The company's portfolio includes a broad range of products from several leading manufacturers, which ensures that its customers have access to the highest quality products at competitive prices. Covetrus offers the following products under this segment:
- Laboratory Diagnostics: Covetrus offers a range of laboratory diagnostic products, including blood tests, fecal exams, urine analysis, and other diagnostic services that help vets diagnose and treat various conditions.
- Pharmaceuticals: Covetrus offers a wide range of animal health products, including prescription drugs, vaccines, nutritional supplements, and other medications that help vets treat various medical conditions and infections.
- Consumables: The company provides an extensive range of consumable products that are used in veterinary clinics daily, like syringes, gloves, catheters, IV fluids, and other supplies.
3. Services:
Covetrus provides a wide range of professional services to support veterinary practices and animal healthcare providers. These services include:
- Consulting: Covetrus offers a consulting service to help veterinary practices improve their operations, reduce costs and improve profitability.
- Education: The company provides educational resources to veterinary professionals to enhance their knowledge, including webinars, digital courses, veterinary CE and more.
- Marketing & Communication: Covetrus offers marketing and communication services to help veterinary clinics grow their business, attract new clients, and improve brand recognition.
Overall, Covetrus offers a comprehensive suite of animal health technology-based products and services, which help improve the animal healthcare industry's efficacy and efficacy.