ANN ARBOR, MI / ACCESSWIRE / July 9, 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 sales reach to the Gulf Cooperation Council Countries, including UAE, Saudi Arabia, Qatar, Oman, Kuwait and Bahrain; along with Egypt and India. Leader Healthcare Group will be the exclusive distributor to veterinarians in these areas, carrying the entire Zomedica product line as it becomes available in the respective geographies.
"The expansion into this region of the world marks yet another step toward building Zomedica into a global leader in the animal health space," stated Larry Heaton, Chief Executive Officer of Zomedica. "Our strategic vision is to have a global footprint for our product lines, and this is step in that direction, with the right partner for the future. Leader Healthcare Group is an innovative leader in the healthcare markets in the Middle East and India, and we are pleased to be aligned with a joint vision for the future," continued Heaton.
"We are excited and honored to partner with Zomedica, bringing their innovative products to our region," said Sukhdeep Sachdev, Global CEO of Leader Healthcare.
"As the market leader in the MENA and APAC regions, our commitment to excellence in veterinary health perfectly aligns with Zomedica's mission to advance animal health and veterinary success. This partnership is a beautiful synergy of two organizations dedicated to meeting the needs of clinical veterinarians with unrivaled products and services. The future is indeed bright and together, we are poised to make a significant impact on veterinary practices and animal care in this part of the world as we embark on this journey," added Sachdev.
The animal healthcare market in the Middle East and North Africa is approximately $4 billion per year, growing at approximately 5%, while animal healthcare market in India is nearly $1 billion annually, growing at approximately 7%.
About Leader Healthcare Group
Established in 2009, Leader Healthcare has a robust presence across the World's Healthcare Ecosystem. The company headquarters is in one of the world's most prosperous and fast-growing cities, Dubai, enabling their pervasive commitment to provide a comprehensive product range and service solutions. From Medical Simulation and Healthcare Education, Critical Care, Resuscitation and EMS, Dermatology and Aesthetics, Home Healthcare, Life Sciences, and Pharmaceuticals, Leader Healthcare has touched millions of lives in the MENA, APAC, and North American regions. With a decade of excellence in the fields across, Leader Healthcare continuously strives to leverage the brightest minds into the most healing hands.
Operating in over 12 locations worldwide with a diverse team of over 200 professionals from 29 nationalities, Leader Healthcare Group, including its subsidiaries Leader Life Sciences, Leader Edutech, and Leader Biotech Pharma, aims to support global health, education, research and pharma excellence.
For more information, please visit www.leaderhealthcaregroup.com or contact 043263980.
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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 $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: 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 the Middle East, Africa and India, 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 the Middle East, Africa and India; 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.
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| Market Cap: | US$126.410M |
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