Zomedica Announces Expansion of Exclusive Equine Distribution Agreement with Grovet in Europe
Zomedica Corp. (NYSE American:ZOM) has expanded its distribution partnership with Grovet in Europe for its equine PulseVet® and TRUFORMA product platforms. The updated agreement grants Grovet exclusive distribution rights in 27 European countries and non-exclusive rights in Italy and the UK. This expansion includes the introduction of the TRUFORMA equine platform to the European market, alongside existing equine assays for eACTH and Cortisol, with equine Insulin launching later this year.
Kevin Klass, Zomedica's Senior VP of Sales, expressed satisfaction with the expanded partnership, highlighting Grovet's success in distributing PulseVet products. Koen Schmitz, Managing Director of Grovet, emphasized the scientific basis of Zomedica's products. The TRUFORMA platform offers equine veterinarians the ability to diagnose and monitor conditions like PPID (Cushing's disease) with reference lab accuracy and point-of-care convenience.
Zomedica Corp. (NYSE American:ZOM) ha espanso la sua partnership di distribuzione con Grovet in Europa per le sue piattaforme di prodotto PulseVet® e TRUFORMA equine. L'accordo aggiornato concede a Grovet diritti di distribuzione esclusivi in 27 paesi europei e diritti non esclusivi in Italia e Regno Unito. Questa espansione include l'introduzione della piattaforma equina TRUFORMA nel mercato europeo, insieme ai test equini esistenti per eACTH e Cortisolo, con il lancio dell'Insulina equina previsto per la fine dell'anno.
Kevin Klass, Vicepresidente Senior delle Vendite di Zomedica, ha espresso soddisfazione per la partnership ampliata, sottolineando il successo di Grovet nella distribuzione dei prodotti PulseVet. Koen Schmitz, Direttore Generale di Grovet, ha enfatizzato la base scientifica dei prodotti di Zomedica. La piattaforma TRUFORMA offre ai veterinari equini la possibilità di diagnosticare e monitorare condizioni come la PPID (malattia di Cushing) con accuratezza da laboratorio di riferimento e praticità sul campo.
Zomedica Corp. (NYSE American:ZOM) ha expandido su asociación de distribución con Grovet en Europa para sus plataformas de productos PulseVet® y TRUFORMA equina. El acuerdo actualizado otorga a Grovet derechos de distribución exclusivos en 27 países europeos y derechos no exclusivos en Italia y el Reino Unido. Esta expansión incluye la introducción de la plataforma equina TRUFORMA en el mercado europeo, junto con los ensayos equinos existentes para eACTH y Cortisol, con el lanzamiento de Insulina equina previsto para finales de este año.
Kevin Klass, Vicepresidente Senior de Ventas de Zomedica, expresó su satisfacción con la asociación ampliada, destacando el éxito de Grovet en la distribución de productos PulseVet. Koen Schmitz, Director General de Grovet, enfatizó la base científica de los productos de Zomedica. La plataforma TRUFORMA ofrece a los veterinarios equinos la capacidad de diagnosticar y monitorear condiciones como la PPID (enfermedad de Cushing) con exactitud de laboratorio de referencia y conveniencia en el punto de atención.
조메디카 코퍼레이션 (NYSE American:ZOM)은 유럽에서 자사의 말 전용 제품 플랫폼인 PulseVet®와 TRUFORMA에 대해 Grovet와의 유통 파트너십을 확대했습니다. 업데이트된 계약에 따라 Grovet는 27개 유럽 국가에서 독점 유통 권한을 갖고 있으며, 이탈리아와 영국에서는 비독점 권한을 부여받습니다. 이 확장은 기존의 eACTH 및 코르티솔 검사를 포함하여 TRUFORMA 말 플랫폼을 유럽 시장에 소개하는 것을 포함하며, 말 인슐린은 올해 말에 출시될 예정입니다.
조메디카의 영업 수석 부사장 케빈 클래스를 통해 확장된 파트너십에 대한 만족감이 표현되었으며, Grovet가 PulseVet 제품을 유통하는 성공을 강조했습니다. Grovet의 관리 이사인 코엔 스미츠는 조메디카 제품의 과학적 기초를 강조했습니다. TRUFORMA 플랫폼은 수의사들이 PPID(쿠싱병)와 같은 상태를 참조 실험실의 정확성과 현장 편리함으로 진단하고 모니터링할 수 있는 능력을 제공합니다.
Zomedica Corp. (NYSE American:ZOM) a élargi son partenariat de distribution avec Grovet en Europe pour ses plateformes de produits PulseVet® et TRUFORMA équines. L'accord mis à jour accorde à Grovet des droits de distribution exclusifs dans 27 pays européens et des droits non exclusifs en Italie et au Royaume-Uni. Cette expansion comprend l'introduction de la plateforme équine TRUFORMA sur le marché européen, aux côtés des tests équins existants pour eACTH et Cortisol, avec le lancement de l'insuline équine prévu pour la fin de l'année.
Kevin Klass, Vice-président senior des ventes de Zomedica, a exprimé sa satisfaction quant à l'élargissement du partenariat, soulignant le succès de Grovet dans la distribution des produits PulseVet. Koen Schmitz, directeur général de Grovet, a souligné la base scientifique des produits de Zomedica. La plateforme TRUFORMA offre aux vétérinaires équins la capacité de diagnostiquer et de surveiller des conditions telles que la PPID (maladie de Cushing) avec la précision d'un laboratoire de référence et la commodité sur le lieu de soins.
Zomedica Corp. (NYSE American:ZOM) hat seine Vertriebspartnerschaft mit Grovet in Europa für die equinen Produktplattformen PulseVet® und TRUFORMA ausgebaut. Das aktualisierte Abkommen gewährt Grovet exklusive Vertriebsrechte in 27 europäischen Ländern und nicht-exklusive Rechte in Italien und Großbritannien. Diese Expansion umfasst die Einführung der equinen TRUFORMA-Plattform auf dem europäischen Markt, zusammen mit bestehenden equinen Tests für eACTH und Cortisol, wobei die equine Insulin-Produkte später in diesem Jahr auf den Markt kommen.
Kevin Klass, Senior Vice President für Vertrieb von Zomedica, äußerte sich zufrieden über die erweiterte Partnerschaft und hob den Erfolg von Grovet bei der Verteilung der PulseVet-Produkte hervor. Koen Schmitz, Geschäftsführer von Grovet, betonte die wissenschaftliche Grundlage der Produkte von Zomedica. Die TRUFORMA-Plattform bietet Pferdeveterinären die Möglichkeit, Erkrankungen wie PPID (Cushing-Krankheit) mit Referenzlabor-Genauigkeit und praktischer Anwendung vor Ort zu diagnostizieren und zu überwachen.
- Expanded distribution partnership with Grovet for equine products in Europe
- Exclusive distribution rights in 27 European countries, non-exclusive in Italy and UK
- Introduction of TRUFORMA equine platform to European market
- Upcoming launch of equine Insulin assay later this year
- None.
Insights
The expansion of Zomedica's distribution agreement with Grovet is a strategic move to strengthen its presence in the European equine veterinary market. This deal significantly broadens Zomedica's reach, covering 29 countries for both PulseVet and TRUFORMA product lines. The exclusive rights in 27 countries provide a competitive advantage, potentially leading to increased market share and revenue growth.
The inclusion of the TRUFORMA platform in the agreement is particularly noteworthy. With the ability to diagnose common equine health issues like Cushing's disease quickly and accurately, this technology addresses a critical need in equine veterinary care. The upcoming launch of the equine insulin assay further enhances the platform's value proposition.
For investors, this expansion signals positive growth potential in Zomedica's international operations. The partnership with an established distributor like Grovet reduces market entry barriers and leverages local expertise, which could accelerate adoption rates of Zomedica's products in Europe. However, the impact on financials will depend on the execution of this expanded agreement and market reception of the products.
Zomedica's expansion strategy in Europe demonstrates a focus on the growing veterinary diagnostics market. The TRUFORMA platform, with its point-of-care capabilities, aligns with the trend towards rapid, on-site testing in veterinary medicine. This could give Zomedica a competitive edge in the equine segment.
The company's approach of offering both diagnostic (TRUFORMA) and therapeutic (PulseVet) solutions creates a more comprehensive product portfolio. This diversification can potentially lead to increased customer retention and higher revenue per client. The emphasis on scientifically backed products, as noted by Grovet's managing director, enhances credibility in a field where efficacy is paramount.
Investors should note that while this expansion is promising, the veterinary medical device market is competitive. Zomedica's success will hinge on factors such as product performance, pricing strategy and the effectiveness of Grovet's distribution network. The company's ability to innovate and expand its assay offerings, as evidenced by the upcoming equine insulin assay, will be important for long-term growth in this market.
Expansion adds new countries to Grovet's existing PulseVet distribution coverage and enables launch of the TRUFORMA® equine platform in Europe
ANN ARBOR, MI / ACCESSWIRE / October 3, 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 expansion of its distribution partnership in Europe with Grovet, a leading equine-focused veterinary distributor.
The terms of the updated agreement offer Grovet equine distribution rights for Zomedica's equine PulseVet® and TRUFORMA product platforms throughout most of Europe. Grovet will exclusively distribute these equine products in 27 countries, including Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, and Switzerland, and will distribute these products on anon-exclusive basis in Italy and the UK.
In addition to expanding the distribution of PulseVet products to equine veterinarians into additional European countries, this agreement also expands their product offerings to include the TRUFORMA platform as well as the Company's current equine assays for eACTH and Cortisol, and equine Insulin when it launches later this year.
"We are very pleased to expand our relationship with Grovet for all of Zomedica' s equine products in Europe," stated Kevin Klass, Zomedica's Senior Vice President of Sales. "Grovet has been a terrific partner since inception. Having them lead the way for us in equine by introducing the TRUFORMA equine product line to the market in 29 countries is a natural recipe for success," continued Klass.
"Working with Zomedica and selling the PulseVet device has been a great experience for us," stated Koen Schmitz-Managing Director of Grovet. "We only partner with companies whose products are rooted in scientific studies, and all of Zomedica's products we are carrying are exactly just that, rooted in science and steeped in research," continued Schmitz.
"Grovet has been a great partner to Zomedica for the equine PulseVet product line over the last several years, and they were the perfect partner to help expand the reach of our TRUFORMA equine platform within Europe," stated Brandon Marino, Senior Director of Global Channels for Zomedica.
"PPID, or Cushing's disease, is one of the most common endocrine disorders in horses and ponies. Left undiagnosed and untreated, quality of life for these animals will rapidly decline and their life expectancy will shorten. The TRUFORMA eACTH assay for equine plasma offers equine veterinarians the ability to diagnose and screen for PPID as well as monitor patients during treatment, in minutes in their own labs or stall-side. The equine Cortisol assay provides critical data to veterinarians treating foals, and the upcoming equine insulin assay will be of benefit for assessing insulin issues commonly faced by horses. The compact, easy to use, and durable TRUFORMA device offers reference lab accuracy with point of care convenience, making it a great fit for the unique challenges that face equine practitioners," concluded Marino.
For more information on these products or any of Zomedica's other products please visit, wwww.zomedica.com.
About Grovet - Equine health company
Grovet has been supporting equine veterinarians with high-quality products for over 25 years. Our team consists of people who are passionate about horses, which is why horse health is at the heart of everything we do.
With our extensive experience and knowledge, we offer a wide range of innovative products, including instruments, medicines, MedTech and supplements to support equine veterinarians. We are committed to continuously improving and expanding our product line to meet the evolving needs of equine practitioners. By working closely with veterinarians and industry experts, we stay up to date on the latest trends and challenges, allowing us to provide effective solutions that help vets deliver the best care possible.
A key example of our ongoing commitment to innovation is our successful collaboration with Zomedica. This partnership has allowed us to expand our product offerings with the PulseVet and now the TRUFORMA equine line of products. PulseVet products are highly regarded by our clients and fit seamlessly into Grovet's existing range and customer base. Our clients are pleased to have access to these products through a European distributor, making it easier than ever to incorporate them into their veterinary practices.
For more information about our products or to explore partnership opportunities, please visit www.grovet.com or contact us directly.
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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
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SOURCE: Zomedica Corp.
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FAQ
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