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DVM NEWS - MARCH 2018
PETIQ TO OPEN 20 VETERINARY SERVICES CLINICS
IN WALMART STORES

PetIQ, Inc. (Nasdaq: PETQ) announced the opening of 20 veterinary services clinics in Walmart (NYSE: WMT) locations. This marks the beginning of PetIQ's plan to expand veterinary services to leading retailers following the acquisition of VIP Petcare in January of this year.
"We are excited to announce this partnership with Walmart to open 20 veterinary clinics. The first two locations will open next week with all 20 locations to open over the next 90 days," stated Cord Christensen, PetIQ's Chairman and CEO. "I am incredibly proud of our team who in a very short period of time has leveraged our cross-functional capabilities to introduce our first VetIQ Petcare clinics. We are excited to provide pet parents and their pets a unique experience in conjunction with our retail partners."
PetIQ has plans to open more than one thousand additional veterinary services clinics, in retail-partner locations, through 2023. In conjunction with the Company's core veterinary product lines, it believes that the veterinary services clinics will help drive total company net sales and adjusted EBITDA margin to more than $1 billion and 15%, respectively, by 2023. Today, PetIQ and VIP serve more than 40 retail partners representing more than 60,000 locations. The Company's plan would require opening veterinary clinics in fewer than 2% of its current retail locations.

Originally published on StreetInsider.com, March 13, 2018 4:16 PM EDT

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