Zomedica Corp. (ZOM) stock prices were down by 1.19% as of the market closing on October 11th, 2021. This brought the price per share down to USD$0.51 at the end of the trading day. Subsequent premarket fluctuations have seen the stock rise by 2.71%, bringing it up to USD$0.52.
Changes in Leadership
October 4th, 2021 saw ZOM stock announce the appointing of Larry Heaton as the new President of the company. This development came into effect as of October 1st, 2021. CEO Robert Cohen will retire on October 31st, 2021, after which he will remain on the board of directors of the company. Mr. Heaton will take on the role of Chief Executive Officer thereafter. The new President and CEO will bring more than 35 years experience of in executive leadership and operations know-how in the medical device and biotech industries.
ZOM Stock Acquires PulseVet
The company announced on October 1st, 2021 that it had acquired the Pulse Veterinary Technologies businesses. The transaction was valued at USD$70.9 million and was conducted in all-cash and stock. PulseVet is a world leader in electro-hydraulic shock wave technology, which is used to treat a myriad of conditions in veterinary patients. The high-energy sound waves stimulate cells and release healing growth factors in the body. This serves to reduce inflammation, increase blood flow, and accelerate bone and soft tissue development. The technology is used in conditions including, but not limited to, tendon and ligament healing, bone healing, osteoarthritis, chronic pain, and wound healing.
PulseVet is currently the market leader in the equine market space, as evidenced by its 1500 systems that are actively in use all around the world. The company recently announced the launch of its new handpiece, the X-Trode. It has an energy output that is intended for maximum efficacy, while no longer requiring patient sedation. The acquisition by ZOM stock is hoped to prove to be highly synergistic and productive. PulseVet will be combined with the veterinary health company that focuses on creating products for companion animals. The partnership will seek to focus on the unmet needs of clinical veterinarians.
Future Outlook for ZOM Stock
ZOM stock is poised to capitalize on the expanded scope of opportunities afforded to it as a result of its acquisition of PulseVet. The combined company is excited to collaborate to usher in an unprecedented trajectory of success. Current and potential investors are hopeful that management will be able to leverage the resources at their disposal effectively. This is hoped to facilitate consistent and organic growth in shareholder value over the long term.