ANN ARBOR, MI / ACCESSWIRE / May 19, 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 it has purchased a $1.0 million convertible note from Structured Monitoring Products, Inc. (SMP), makers of the VetGuardianTM wireless remote pet monitoring platform, and in connection therewith has acquired the option to act as a sales agent for SMP's platform. Under the terms of the agreement, Zomedica will also have the option to acquire the VetGuardian product line for use in Animal Health. Exercise of both options is subject to certain conditions, including negotiation and execution of mutually acceptable agreements.
The VetGuardian Platform improves the quality of care of pets during recovery from surgery, and for those staying in clinic overnight by providing real time remote monitoring of the pet's vital signs with the ability to alert staff if the vital signs exceed preset ranges. Its unique patented doppler technology allows VetGuardian to read vital signs in real time without wired leads, or a harness on the pet, thus allowing the pet to rest comfortably during recovery.
'We are excited to announce this investment and potential collaboration with SMP' said Greg Blair, VP of Business Development for Zomedica, who will become a member of SMP's Board of Directors pursuant to the terms of the agreement. 'This investment is part of Zomedica's ongoing commitment to working with partners across the veterinary industry in flexible ways to bring innovative products that provide clinical value to market. This investment will enable SMP to accelerate the development and commercialization of VetGuardian.'
'Veterinary clinics want to track their patients' vital signs remotely with zero-touch monitoring, to help detect recovery problems early and create less stress for veterinary staff, pets and pet parents. VetGuardian's product delivers that standard of care today in clinics across the country. We are excited to be working with Zomedica to take our product to the next level.' Said Vik Ramprakash, Founder and CEO of Structured Monitoring Products.
About Structured Monitoring Products
Based in Elyria, Ohio, Structured Monitoring Products, Inc. is committed to commercialize innovative remote sensing technology solutions to improve the quality and efficiency of animal care. Our zero-touch vital signs remote monitoring platform provides veterinarians the ability to monitor stressed or aggressive animal patients without wires or wearables and to become the norm of tomorrow
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 will include 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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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 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 PulseVet 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 Pulse Vet 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.
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Investor Relations Contact:
PCG Advisory Group
Kirin Smith, President
SOURCE: Zomedica Corp.
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