MWIV » Topics » Securos, Inc. and International Veterinary Distribution Network, Inc. Acquisition

This excerpt taken from the MWIV 10-Q filed Jul 31, 2008.

Securos, Inc. and International Veterinary Distribution Network, Inc. Acquisition

 

In June 2007, we acquired substantially all of the assets of Securos, Inc. and International Veterinary Distribution Network, Inc. (collectively “Securos”) for approximately $5,147, consisting of $4,661 in cash (including direct acquisition costs of approximately $177) and 13,058 shares of restricted common stock valued at the time of the issuance at approximately $486.  The purchase price was reduced by $50 as a result of a post closing working capital adjustment that was completed during the nine months ended June 30, 2008.  Additional contingent consideration will be paid to the former shareholders of Securos if certain defined financial targets are achieved in each year through 2011.  This is currently estimated to be approximately $1,000. These additional payments will increase the purchase price and goodwill at the time the financial targets are achieved.  Based in Charlton, Massachusetts, Securos is a provider of veterinary orthopedic products and sources private label products in the categories of veterinary surgical consumables and equipment and handheld instruments.  Securos also holds a majority interest in a company based in Germany with operations in Europe.

 

For more information on our business, see our Annual Report on Form 10-K filed with the SEC on November 21, 2007.

 

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This excerpt taken from the MWIV 10-Q filed May 1, 2008.

Securos, Inc. and International Veterinary Distribution Network, Inc. Acquisition

 

In June 2007, we acquired substantially all of the assets of Securos, Inc. and International Veterinary Distribution Network, Inc. (collectively “Securos”) for approximately $5,147, consisting of $4,661 in cash (including direct acquisition costs of approximately $177) and 13,058 shares of restricted common stock valued at the time of the issuance at approximately $486.  The purchase price was reduced by $50 as a result of a post closing working capital adjustment that was completed during the six months ended March 31, 2008.  Additional contingent consideration will be paid to Securos shareholders if certain defined financial targets are achieved in each year through 2011.  This is currently estimated to be approximately $1.0 million. These additional payments will increase the purchase price and goodwill at the time the financial targets are achieved.  Based in Charlton, Massachusetts, Securos is a provider of veterinary orthopedic products in the United States and select foreign countries.  Securos sources private label products in the categories of veterinary surgical consumables and equipment and handheld instruments.

 

For more information on our business, see our Annual Report on Form 10-K filed with the SEC on November 21, 2007.

 

15



 

This excerpt taken from the MWIV 10-Q filed Feb 1, 2008.

Securos, Inc. and International Veterinary Distribution Network, Inc. Acquisition

 

In June 2007, we acquired substantially all of the assets of Securos, Inc. and International Veterinary Distribution Network, Inc. (collectively “Securos”) for approximately $5,147, consisting of $4,661 in cash (including direct acquisition costs of approximately $177) and 13,058 shares of restricted common stock valued at the time of the issuance at approximately $486.  Additional contingent consideration will be paid to Securos shareholders if certain defined financial targets are achieved in each year through 2011.  This is currently estimated to be approximately $1.0 million. These additional payments will increase the purchase price and goodwill at the time the financial targets are achieved.  Based in Charlton, Massachusetts, Securos is a provider of veterinary orthopedic products in the United States and select foreign countries and sources private label products in the categories of veterinary surgical consumables and equipment and handheld instruments.

 

For more information on our business, see our Annual Report on Form 10-K filed with the SEC on November 21, 2007.

 

14



 

This excerpt taken from the MWIV 10-Q filed Aug 1, 2007.

Securos, Inc. and International Veterinary Distribution Network, Inc. Acquisition

In June 2007, we acquired substantially all of the assets of Securos, Inc. (“Securos”) and International Veterinary Distribution Network, Inc. (“IVDN”) for approximately $5,096, consisting of $4,610 in cash and 13,058 shares of restricted common stock valued at the time of the issuance at approximately $486.  Additional contingent consideration will be paid to Securos and IVDN shareholders if certain defined financial targets are achieved in each year through 2011 and is currently estimated to be approximately $1.1 million. These additional payments will increase the purchase price and goodwill at the time the financial targets are achieved.  Based in Charlton, MA, Securos is a provider of veterinary orthopedic products in the United States and select countries abroad.  Also based in Charlton, MA, IVDN sources private label products in the categories of veterinary surgical consumables and equipment and handheld instruments.  Our headcount increased by 20 employees as a result of this acquisition.

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