SIRE Veterinario, SA Selected as Distribution Partner to Launch Zomedica® Products into Costa Rica
ANN ARBOR, MI / ACCESSWIRE / August 14, 2024 / Zomedica Corp. (NYSE American:ZOM) ("Zomedica" or the "Company"), a veterinary health company offering point-of-care diagnostics and therapeutic products for equine and companion animals, today announced the latest expansion of its sales reach into Costa Rica. SIRE Veterinario, S.A. will be the exclusive distributor to veterinarians in the country, offering a range of Zomedica products as they become available in the region.
"We are further expanding our international reach by engaging with terrific partners, like SIRE Veterinario," stated Larry Heaton, Chief Executive Officer of Zomedica. "Our strategic vision is to establish a global footprint for our product lines, and this partnership is a further step in that direction. SIRE Veterinario is a top-tier organization, and we are proud to collaborate with them to bring the benefits of our products to the pets in Costa Rica and the approximately 3,000 veterinarians who care for them."
"Partnership with Zomedica is an obvious fit aligning with our vision and medical excellence that we pursue at SIRE," stated Dr. Gloriana López Porras. "Our clients deserve nothing but the best extensively researched products to provide solutions to veterinary hospitals and clinics further enabling them to provide the best care to their pet patients. Adding the Zomedica product lines, is another step in our vision to accomplish this."
"Expanding into the Central and South American regions has always been a strategic goal for Zomedica," stated Senior Director of Global Channels, Brandon Marino. "The partnership with SIRE is a big step in realizing this goal. SIRE provides us a strategic partner that will help us grow and expand in the region while continuing to enable the best medicine and care to the pet patients that need it most. We look forward to a successful collaboration with SIRE Veterinario."
About SIRE Veterinario SA
SIRE Veterinario is a premier Costa Rican supplier of high-end veterinary equipment, boasting over 15 years of experience in the field. With a deep commitment to advancing animal healthcare, SIRE Veterinario has established itself as a trusted partner for veterinarians across the country, offering a comprehensive range of cutting-edge products that meet the diverse needs of veterinary professionals.
At SIRE Veterinario, we believe in more than just providing equipment; we strive to empower veterinarians with the tools and solutions they need to deliver the highest quality care to their patients. Our product portfolio is carefully curated to include the latest innovations in veterinary technology, ensuring that our clients have access to the most effective and reliable equipment on the market.
At SIRE Veterinario, we are proud to collaborate with Zomedica as we continue to expand our range of high-end veterinary solutions. Together, we are dedicated to supporting the veterinary community in Costa Rica, ensuring that veterinarians have access to the best equipment and technologies available to meet the evolving demands of their profession.
About Zomedica
Zomedica is a leading equine and companion animal healthcare company dedicated to improving animal health by providing veterinarians innovative therapeutic and diagnostic solutions. Our gold standard PulseVet® shock wave system, which accelerates healing in musculoskeletal conditions, has transformed veterinary therapeutics. Our suite of products also includes the Assisi® Loop line of therapeutic devices and the TRUFORMA® diagnostic platform, the TRUVIEW digital cytology system, and the VetGuardian® no-touch monitoring system, all designed to empower veterinarians to provide top-tier care. In the aggregate, their total addressable market in the U.S. exceeds $2 billion. Headquartered in Michigan, Zomedica employs approximately 150 people and manufactures and distributes its products from its world-class facilities in Georgia and Minnesota. An NYSE American company, Zomedica grew revenue 33% in 2023 to $25 million and maintains a strong balance sheet with approximately $91 million in liquidity as of March 31, 2024. Zomedica is advancing its product offerings, leveraging strategic acquisitions, and expanding internationally as we work to enhance the quality of care for pets, increase pet parent satisfaction, and improve the workflow, cash flow and profitability of veterinary practices. For more information visit www.zomedica.com.
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Cautionary Note Regarding Forward-Looking Statements
Except for statements of historical fact, this news release contains certain "forward-looking information" or "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur and include statements relating to our expectations regarding future results. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance, or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.
Forward-looking information is based on the opinions and estimates of management at the date the statements are made, including assumptions with respect to economic growth, demand for the Company's products, the Company's ability to produce and sell its products, sufficiency of our budgeted capital and operating expenditures, the satisfaction by our strategic partners of their obligations under our commercial agreements, our ability to realize upon our business plans and cost control efforts and the impact of COVID-19 on our business, results and financial condition.
Our forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: the expected market and Zomedica's share of such market, continued growth of sales, the outcome of clinical studies, the application of generally accepted accounting principles, which are highly complex and involve many subjective assumptions, estimates, and judgments, uncertainty as to whether our strategies and business plans will yield the expected benefits; uncertainty as to the timing and results of development work including the development of new cartridges; uncertainty as to the timing and results of verification and validation studies; uncertainty as to the timing and results of commercialization efforts, as well as the cost of commercialization efforts, including the cost to develop an internal sales force and manage our growth; uncertainty as to our ability to successfully integrate acquisitions; uncertainty as to our ability to supply products in response to customer demand; uncertainty as to the likelihood and timing of any required regulatory approvals, or other requirements for our products in Costa Rica, and the availability and cost of capital; the ability to identify and develop and achieve commercial success for new products and technologies; veterinary acceptance of our products, particularly in Costa Rica; competition from related products; the level of expenditures necessary to maintain and improve the quality of products and services; changes in technology and changes in laws and regulations; our ability to secure and maintain strategic relationships; performance by our strategic partners of their obligations under our commercial agreements, including product manufacturing obligations; risks pertaining to permits and licensing, intellectual property infringement risks, risks relating to any required clinical trials and regulatory approvals, risks relating to the safety and efficacy of our products, the use of our products, intellectual property protection, risks related to the COVID-19 pandemic and its impact upon our business operations generally, including our ability to develop and commercialize our products, and the other risk factors disclosed in our filings with the SEC and under our profile on SEDAR+ at www.sedarplus.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.
Investor Relations Contact:
Zomedica Investor Relations
investors@zomedica.com
1-734-369-2555
SOURCE: Zomedica Corp.
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