Zomedica Finalizes Acquisition of Veterinary Imaging Company Revo Squared
Zomedica Corp. (NYSE American: ZOM) has successfully completed the acquisition of Revo Squared LLC, integrating its innovative MicroView digital cytology platform. This platform enhances diagnostic accuracy for veterinarians by automating slide preparation, significantly reducing errors. The manufacturing and distribution will shift to Zomedica's expanded facility in Roswell, Georgia, which is expected to optimize production capabilities. The launch of MicroView into the veterinary market is anticipated in 2023.
- Acquisition of MicroView platform expected to enhance diagnostic capabilities.
- Automation of slide preparation reduces errors, improving workflow efficiency.
- Shift to Roswell facility leverages expanded manufacturing capabilities.
- Dependence on successful integration of Revo's assets may pose operational risks.
- Potential uncertainties regarding regulatory approvals and market acceptance.
ANN ARBOR, MI / ACCESSWIRE / July 6, 2022 / Zomedica Corp. (NYSE American:ZOM) ('Zomedica' or the 'Company'), a veterinary health company offering diagnostic and therapeutic products for companion animals, today announced that the acquisition of the assets of Revo Squared LLC ('Revo') was recently completed.
Revo's innovative MicroView digital cytology platform will provide veterinarians with best-in-class image quality while providing the first in-clinic automated slide preparation system. Slide preparation is a critical part of hematology and cytology. and slide preparation errors are the number one reason cited by pathologists for being unable to read a slide. The MicroView platform improves practice workflow efficiency by automating the process to assure a consistent smear and stain to produce a readable slide.
Final development, manufacturing, and distribution for the MicroView digital cytology platform will move to Zomedica's new global manufacturing and distribution center in Roswell, Georgia, to take advantage of the site's capital improvements, expansion in manufacturing capacity, and advanced technologies.
"We're excited to bring the MicroView platform to our new facility." said Tony Blair, Chief Operating Officer of Zomedica. "We will be able to readily capitalize upon the success of our current high-quality manufacturing site and the experienced workforce already operating there - and we look forward to developing it further to bring MicroView to the veterinary market in 2023."
About Zomedica
Based in Ann Arbor, Michigan, Zomedica (NYSE American: ZOM) is a veterinary health company creating products for companion animals by focusing on the unmet needs of clinical veterinarians. Zomedica's product portfolio includes innovative diagnostics and medical devices that emphasize patient health and practice health. It is Zomedica's mission to provide veterinarians the opportunity to increase productivity and grow revenue while better serving the animals in their care. For more information, visit www.ZOMEDICA.com.
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Reader Advisory
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 the ability to transition the Revo assets to Zomedica's facility, American economic growth, demand for the Company's products, the Company's ability to produce and sell its products, our ability to successfully integrate and operate the Revo business, the sufficiency of our budgeted capital and operating expenditures, the cost, adequacy and availability of supplies required for our operations, 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: uncertainty as to whether our strategies and business plans will yield the expected benefits; uncertainty as to the timing and results of development work and 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 and operate the Revo business, uncertainty as to our ability to supply equipment and assays in response to customer demand; uncertainty regarding the cost, adequacy and availability of supplies required for our operations; uncertainty as to the likelihood and timing of any required regulatory approvals, 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; 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.sedar.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:
PCG Advisory Group
Kirin Smith, President ksmith@pcgadvisory.com
+1.646.823.8656
SOURCE: Zomedica Corp.
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https://www.accesswire.com/707578/Zomedica-Finalizes-Acquisition-of-Veterinary-Imaging-Company-Revo-Squared
FAQ
What is the significance of Zomedica's acquisition of Revo Squared?
When will the MicroView platform be available in the veterinary market?
How will the acquisition affect Zomedica's production capabilities?
What are the key benefits of the MicroView platform?
What challenges might Zomedica face after acquiring Revo Squared?
