Zomedica Continues Global Expansion Through Strategic Partnership with SIRE Veterinario, S.A for Sales Expansion in Central America
Zomedica Corp. (NYSE American:ZOM) has announced a strategic partnership with SIRE Veterinario, S.A. to expand its sales reach into Costa Rica. SIRE Veterinario will be the exclusive distributor of Zomedica products to veterinarians in the country. This move aligns with Zomedica's strategic vision to establish a global footprint for its product lines.
The partnership aims to bring Zomedica's products to approximately 3,000 veterinarians in Costa Rica, enhancing pet care in the region. This expansion into Central America is part of Zomedica's broader strategy to grow in Central and South American markets. The collaboration is expected to enable better medicine and care for pet patients while furthering Zomedica's international reach.
Zomedica Corp. (NYSE American:ZOM) ha annunciato una partnership strategica con SIRE Veterinario, S.A. per espandere la propria portata commerciale in Costa Rica. SIRE Veterinario sarà il distributore esclusivo dei prodotti Zomedica per i veterinari del paese. Questa mossa si allinea con la visione strategica di Zomedica di stabilire un impatto globale per le proprie linee di prodotto.
La partnership mira a portare i prodotti Zomedica a circa 3.000 veterinari in Costa Rica, migliorando la cura degli animali domestici nella regione. Questa espansione in America Centrale fa parte della strategia più ampia di Zomedica per crescere nei mercati dell'America Centrale e Meridionale. La collaborazione è destinata a garantire una migliore medicina e cura per i pazienti animali domestici, ampliando ulteriormente la portata internazionale di Zomedica.
Zomedica Corp. (NYSE American:ZOM) ha anunciado una asociación estratégica con SIRE Veterinario, S.A. para ampliar su alcance de ventas en Costa Rica. SIRE Veterinario será el distribuidor exclusivo de los productos Zomedica para veterinarios en el país. Este movimiento se alinea con la visión estratégica de Zomedica de establecer una presencia global para sus líneas de productos.
La asociación tiene como objetivo llevar los productos de Zomedica a aproximadamente 3,000 veterinarios en Costa Rica, mejorando así la atención a las mascotas en la región. Esta expansión en Centroamérica es parte de la estrategia más amplia de Zomedica para crecer en los mercados de América Central y del Sur. Se espera que la colaboración permita ofrecer mejores medicamentos y atención para los pacientes animales, mientras se amplía aún más el alcance internacional de Zomedica.
Zomedica Corp. (NYSE 미국:ZOM)이 코스타리카로의 판매 확대를 위해 SIRE Veterinario, S.A.와 전략적 파트너십을 발표했습니다. SIRE Veterinario는 해당 국가의 수의사에게 Zomedica 제품의 독점 배급자가 될 것입니다. 이 조치는 Zomedica의 글로벌 입지를 구축하려는 전략적 비전과 일치합니다.
이 파트너십의 목표는 Zomedica의 제품을 코스타리카의 약 3,000명의 수의사에게 제공하여 지역의 애완 동물 관리 향상입니다. 중앙 아메리카로의 이러한 확장은 Zomedica가 중앙 및 남미 시장에서 성장하기 위한 더 광범위한 전략의 일환입니다. 이 협력은 애완 동물 환자를 위한 보다 나은 의약품과 치료를 가능하게 하여 Zomedica의 국제적 도달 범위를 더욱 확대할 것으로 기대됩니다.
Zomedica Corp. (NYSE American:ZOM) a annoncé un partenariat stratégique avec SIRE Veterinario, S.A. pour étendre son empreinte commerciale au Costa Rica. SIRE Veterinario sera le distributeur exclusif des produits Zomedica pour les vétérinaires du pays. Ce mouvement s'inscrit dans la vision stratégique de Zomedica d'établir une présence mondiale pour ses gammes de produits.
Ce partenariat vise à apporter les produits Zomedica à environ 3.000 vétérinaires au Costa Rica, améliorant ainsi les soins aux animaux dans la région. Cette expansion en Amérique Centrale représente une partie de la stratégie plus vaste de Zomedica pour se développer sur les marchés d'Amérique Centrale et du Sud. La collaboration devrait permettre une meilleure médecine et des soins pour les patients animaux de compagnie, tout en renforçant la portée internationale de Zomedica.
Zomedica Corp. (NYSE American:ZOM) hat eine strategische Partnerschaft mit SIRE Veterinario, S.A. angekündigt, um seine Vertriebsreichweite nach Costa Rica auszudehnen. SIRE Veterinario wird der exklusive Distributor der Zomedica-Produkte für Tierärzte im Land sein. Dieser Schritt steht im Einklang mit der strategischen Vision von Zomedica, einen globalen Fußabdruck für seine Produktlinien zu etablieren.
Ziel der Partnerschaft ist es, die Produkte von Zomedica zu etwa 3.000 Tierärzten in Costa Rica zu bringen, was die Tierpflege in der Region verbessert. Diese Expansion nach Mittelamerika ist Teil der umfassenderen Strategie von Zomedica, in den Märkten in Mittel- und Südamerika zu wachsen. Die Zusammenarbeit wird voraussichtlich eine bessere Medizin und Pflege für Haustierpatienten ermöglichen und gleichzeitig die internationale Reichweite von Zomedica weiter ausbauen.
- Expansion into a new market (Costa Rica) through exclusive distribution partnership
- Access to approximately 3,000 veterinarians in Costa Rica
- Strategic step towards establishing a global footprint
- Alignment with company's goal to expand in Central and South American regions
- None.
Insights
This strategic partnership with SIRE Veterinario marks a significant step in Zomedica's global expansion strategy. While the financial impact isn't immediately quantifiable, it opens up a new market in Costa Rica, potentially reaching approximately 3,000 veterinarians. This move aligns with Zomedica's vision to establish a global footprint, which could drive long-term revenue growth. However, investors should note that market penetration and revenue generation in new territories often take time to materialize. The partnership's success will depend on factors like product adoption rates and the competitive landscape in Costa Rica's veterinary market. Overall, this expansion represents a positive development for Zomedica's growth trajectory, but its full impact on the company's financials remains to be seen.
Zomedica's entry into Costa Rica through SIRE Veterinario is a strategic move to tap into the growing Latin American pet care market. This region has been experiencing a rise in pet ownership and increased spending on pet health, presenting a lucrative opportunity. The exclusive distribution agreement with a reputable local partner like SIRE Veterinario could accelerate Zomedica's market penetration. However, success will hinge on factors such as cultural acceptance of advanced veterinary diagnostics and the economic capacity of pet owners in Costa Rica. Investors should monitor the pace of product rollout and adoption rates in this new market. While this expansion is promising, it's important to temper expectations as establishing a strong presence in a new geographic market often requires substantial time and resources.
Zomedica's partnership with SIRE Veterinario in Costa Rica is a calculated move to expand its reach in the veterinary diagnostics market. The company's focus on point-of-care diagnostics aligns well with the growing trend of in-clinic testing in veterinary practices. This expansion could potentially improve access to advanced diagnostics for Costa Rican veterinarians, enhancing the quality of pet healthcare in the region. However, the success of this venture will depend on factors such as product training, after-sales support and the adaptability of Zomedica's products to local veterinary practices. Investors should keep an eye on how well Zomedica's product range meets the specific needs of the Costa Rican veterinary market and whether it can effectively compete with established local and international players in the region.
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
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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:
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SOURCE: Zomedica Corp.
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