Acquisition strengthens IDEXX’s connected diagnostic and software ecosystem with AI-native workflow capabilities that enhance efficiency, clinical decision-making, and diagnostic utilization
WESTBROOK, Maine–(BUSINESS WIRE)–IDEXX Laboratories, Inc. (Nasdaq: IDXX), a global leader in pet healthcare innovation, today announced the acquisition of CoVetAI Inc. (CoVet), a leading and rapidly growing provider of AI-native ambient listening and clinical workflow software for veterinary practices. Serving both multipractice corporate groups and independent veterinary practices worldwide, CoVet helps veterinary teams automatically capture and organize information across the patient care journey, from consultation to treatment planning and client follow-up, reducing documentation burden and saving clinicians’ time. The acquisition expands the value of IDEXX’s software, diagnostics, and AI offerings by making information more accessible, actionable, and connected across the practice. CoVet will be integrated into the IDEXX software ecosystem, which will continue to support other ambient scribe solutions and third-party integrations. CoVet will also continue to integrate with non-IDEXX practice management systems.
“Veterinary practices are managing growing complexity and generating more information than ever before, and clinical teams need better ways to capture, connect, and use that information,” said Mike Erickson, President and Chief Executive Officer of IDEXX. “CoVet brings leading workflow intelligence capabilities that complement our diagnostic and software ecosystem. Together, we can help veterinary professionals work more efficiently and unlock greater value from information generated throughout the clinical workflow to support expanded patient care.”
IDEXX is a leader in veterinary software, with more than 10,000 clinics globally using its cloud-based practice management systems. The company has a long history of applying AI and advanced analytics across its portfolio, including the IDEXX inVue Dx™ Cellular Analyzer, SediVue Dx™ Urine Sediment Analyzer, ProCyte One™ Hematology Analyzer, IDEXX DecisionIQ™, and IDEXX Web PACS™ Software. The acquisition of CoVet reinforces software and AI as strategic enablers of diagnostic insights, workflow efficiency, and practice performance. Combined with IDEXX software, diagnostics, clinical decision support tools, and solutions such as the Vello™ Client Engagement Platform, CoVet creates opportunities for deeper integration of patient information before, during, and after the clinical visit. Over time, these capabilities can help increase diagnostic utilization by surfacing relevant patient insights at key clinical decision points, supporting more personalized client communication, and creating capacity to see more patients.
“From the beginning, our mission has been to use technology to give veterinary professionals more time back, for their patients and for themselves,” said Yannick Bloem, Co-Founder and Chief Executive Officer of CoVet. “We started with clinical documentation, but the opportunity is far greater. AI has the potential to transform the day-to-day experience of practicing veterinary medicine to benefit more pets. With IDEXX, we can bring those benefits to veterinary teams around the world.”
CoVet’s multi-region footprint will also expand and enhance the impact of IDEXX software globally, through integration with IDEXX VetConnect™ PLUS and by addressing practice team needs in geographies not currently served by IDEXX practice management systems.
Financial terms of the transaction were not disclosed.
About IDEXX
IDEXX is a global leader in pet healthcare innovation. Our diagnostic and software products and services create clarity in the complex, evolving world of veterinary medicine. We support longer, fuller lives for pets by delivering insights and solutions that help the veterinary community around the world make confident decisions—to advance medical care, improve efficiency, and build thriving practices. Our innovations also help measure the safety of milk and water across the world and maintain the health and well-being of people and livestock. IDEXX Laboratories, Inc. is a member of the S&P 500™ Index. Headquartered in Maine, IDEXX employs approximately 11,000 people and offers solutions and products to customers in more than 175 countries and territories. For more information about IDEXX, visit: www.idexx.com.
About CoVet
CoVet is an AI-powered clinical copilot built by veterinary professionals, for veterinary professionals. It gives veterinarians and care teams one place to capture, organize, and act on information throughout a patient’s care, from consultation and diagnostics to treatment planning and client follow-up. By automating SOAP notes, transcribing consultations, and streamlining communication with pet owners, CoVet reduces administrative burden and saves time. Trusted by tens of thousands of users across North America, Europe, Australia and New Zealand, CoVet helps veterinary teams focus more of their day on what matters most: exceptional patient care. For more information about CoVet, visit: https://co.vet/
Note Regarding Forward-Looking Statements
This news release contains or may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the use of words such as “expects,” “may,” “anticipates,” “intends,” “would,” “will,” “plans,” “believes,” “estimates,” “should,” “project,” and similar words and expressions. These forward-looking statements are intended to provide our current expectations or forecasts of future events; are based on current estimates, projections, beliefs, and assumptions; are not guarantees of future performance; and involve known and unknown risks and uncertainties that may cause actual events or results to differ materially from those described in the forward-looking statements. Specific risks associated with this transaction include those with respect to software integration, continued execution of the CoVet and IDEXX software product roadmaps, and customer acceptance. Readers are cautioned not to put undue reliance on such forward-looking statements because actual results may vary materially from those expressed or implied. The reports filed by IDEXX pursuant to United States securities laws contain discussions of some of these risks and uncertainties. IDEXX assumes no obligation to, and expressly disclaims any obligation to, update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Readers are advised to review IDEXX’s filings with the United States Securities and Exchange Commission (which are available from the SEC’s EDGAR database at sec.gov and via IDEXX’s website at idexx.com).
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