Zomedica Corp (AMEX:ZOM) is trading significantly higher Friday after the company announced the purchase of Pulse Veterinary Technologies for $70.9 million in cash and stock.
Pulse Veterinary Technologies uses electro-hydraulic shock wave technology for the treatment of a wide variety of conditions in veterinary patients. The technology is used in conditions including tendon and ligament healing, bone healing, osteoarthritis, chronic pain, and wound healing.
“It has been our goal to complement our TRUFORMA product platform, and to accelerate the growth of Zomedica overall, by strategically investing to expand our product offerings, technologies, and product development efforts,” said Robert Cohen, CEO of Zomedica.
Cohen continued, “This selective process, focused on expanding Zomedica’s capability to be a valued partner to the veterinary clinic by bringing novel and valuable offerings that enhance both animal and veterinary practice health, has led us to PulseVet.”
Zomedica is a veterinary health company creating products for companion animals by focusing on the unmet needs of clinical veterinarians.
ZOM Price Action: Zomedica has traded as high as $2.91 and as low as 6 cents over a 52-week period.
The stock was up 24.20% at 65 cents at time of publication.
Photo: Mirko Sajkov from Pixabay.