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Brakke Consulting’s
Animal Health News & Notes for June 23, 2023
Copyright © Brakke Consulting
Editor: Lynn Fondon DVM MBA
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IN THE NEWS:
Brakke Consulting News
Transactions Insights Seminar
Earnings News
Patterson
Other News
20/20 Imaging
Aera Technology
Alltech
Alltech Fennoaqua Oy
BrightPet Nutrition Group
Cascade Animal Sciences
Drools Pet Food Private Limited
Finnforel Oy
Hill’s
KineticVet
Kiora Pharmaceuticals
L Catterton
Medovate Ltd
Penn Veterinary Supply
QSM Diagnostic
Raisioaqua
Raw Advantage Processing
Roch
Sentrx Animal Care
Three Dog Bakery
Topspin Consumer Partners
Upside Foods
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2023 Animal Health Summit
August 28-29, 2023
Location: Midland Theatre | Kansas City, MO
Registration is now open for the 2023 Animal Health Summit
Register today! The Animal Health Summit features two days of networking, 1:1 business partnering, industry thought leaders, panel discussions, speakers and emerging company presentations. Learn more.
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EARNINGS NEWS RELEASES
- Patterson Companies, Inc. reported results for its fiscal year ended April 29, 2023. Animal Health net sales were $3.96 billion, a year-over-year decline of 0.5% (internal sales growth of 3.4%). Animal Health operating income for the year was $127 million, an increase of 11%. (company press release)
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COMPANY NEWS RELEASES
- Colgate-Palmolive Company is partnering with Aera Technology to automate complex decision making for its Hill’s Pet Nutrition division to optimize product deployment decisions across its fulfillment network of Hill’s Science Diet and Hill’s Prescription Diet plants, and mixing and distribution centers. (Pet Product News)
- KineticVet announced the availability of RE-COVR (tripelennamine hydrochloride injection), an injectable antihistamine indicated for use in cattle (beef & dairy) and horses. (Hoards)
- Cascade Animal Sciences announced the launch of its first dietary supplement product called Neuro-Pro, created for middle-to-senior-aged dogs and dogs that require neurological support. Neuro-Pro can be added to dogs’ regular feed and includes a medium-chain triglyceride (MCT) formulation that acts as an alternative fuel source for the brain with anti-inflammatory effects. (DVM360)
- QSM Diagnostics announced a distribution agreement with Penn Veterinary Supply. (company press release)
- Kiora Pharmaceuticals, Inc. and Sentrx Animal Care announced they have amended their existing licensing agreement for patents and technology related to Kiora’s KIO-201 product candidate, a modified form of the natural polymer hyaluronic acid, designed to accelerate corneal wound healing. (yahoo.com)
- 20/20 Imaging and Medovate Ltd announced a distribution agreement to bring SAFIRA (Safer Injection for Regional Anesthesia) to the veterinary industry. SAFIRA is a medical device designed to limit injection pressure and automatically stop injection at high pressures, helping to reduce the risk of nerve injury and improving patient safety. (DVM360)
- BrightPet Nutrition Group announced the acquisition of raw pet food manufacturer Raw Advantage Processing. This is the third acquisition that BrightPet has completed with the backing of A&M Capital Partners. In addition to greater scale and manufacturing, Raw Advantage provides the Company with a West Coast base of operations. Financial terms were not disclosed. (Pet Business)
- Upside Foods announced that it has received USDA approval for the label on its cell-cultivated chicken, making it the second company in the United States to secure that approval. (Veterinary Advantage – Reuters)
- Topspin Consumer Partners announced it has acquired the consumer products division of Three Dog Bakery. Three Dog Bakery’s existing management team will continue to lead the Company in their current roles. Financial terms were not disclosed. (Pet Business)
- Roch announced the launch of The Roch Standard, the world’s first universal dog friendly standard and certification process, designed to capture the dog-friendly policies and position of a business in order to rank them against their regional and industry peers. (Pet Business)
- INDIA L Catterton announced it has invested around $60 million in Drools Pet Food Private Limited, a pet food company in India. (Pet Product News)
- FINLAND Finnforel Oy and Alltech announced they have acquired fish feed factory Raisioaqua, now operating as Alltech Fennoaqua Oy. Alltech Coppens, Alltech’s aquaculture nutrition company, will support the company. Financial terms were not disclosed. (Feed Strategy)
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BRAKKE CONSULTING
Transaction Insights: Unlocking the Secrets to Successful Business Deals in Animal Health
New seminar coming August 30-31, 2023 in Kansas City
Are you seeking to navigate the complex landscape of buying and selling businesses in the animal health and nutrition industry? We are excited to announce the relaunch of our educational due diligence seminar, tailored specifically for animal health professionals.
It’s more than just due diligence – we will help you unlock the secrets to successful deals in animal health. Our comprehensive seminar is designed to equip you with the knowledge, tools, and strategies to make informed decisions and to successfully manage a transaction. Presenters include Bob Jones, Jim Kroman, Randy Freides, and Ron Brakke as well as Damian Burke, Main Street Capital and Mark Stoneman, Armstrong, Teasdale, LLP. The preliminary agenda can be found here.
This Seminar will be held after the KCAHC Animal Health Summit in Kansas City on Wednesday and Thursday, August 30-31. Click here to sign up today and receive a discount.
For more information, contact Amanda McDavid at amcdavid@brakkeconsulting.com or 336.396.3916.
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ANIMAL HEALTH STOCK PRICE TRACKER
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ANIMAL HEALTH NEWS
- US – BVDV A high seroprevalence rate of bovine diarrhea virus (BVDV) in wild pigs has been found in several US states, according to a recent study by investigators at the Auburn University College of Veterinary Medicine. Cattle are known as the dominant source of BVDV infection for pigs. Although pigs do not necessarily show signs of BVDV when infected, and the virus does not pose a threat to the species, it can be transmitted back to cattle and other ruminants. (DVM360)
- US – SWINE HEALTH A team of Agricultural Research Service (ARS) and university scientists announced that HotHog, a new smartphone application that predicts heat stress in pigs, is now available for download and use. HotHog taps into local weather data to predict the relative comfort or heat stress levels of pigs on an hourly, daily or weekly basis. (Feedstuffs – subscription)
- US – HOUSING REGULATIONS New federal bills aim to prohibit breed restrictions in public housing and provide support for unhoused people with pets to help them find emergency housing with their pets. The Providing for Unhoused People with Pets (PUPP) Act would provide grants to homeless shelters to support residents with pets, authorizing the USDA and the U.S. Department of Housing and Urban Development secretaries to award one-time grants to emergency shelters to acquire, rehabilitate, repurpose, retrofit or construct a property to be used to accommodate unhoused individuals with pets. Additionally, it would fund pet-related operating costs, including basic veterinary and behavioral services. The Pets Belong with Families Act would prohibit public housing agencies from imposing breed-specific restrictions as well as discourage those entities from imposing size and weight restrictions. (Vet Advantage)
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BRAKKE CONSULTING VIEWPOINT
Am I the only person reading current economic news that feels perpetually confused? I read that inflation is coming down (albeit slowly), interest rates are poised to rise slightly (but not too much) higher, employment levels continue to grow, and we are facing a recession in 2023 / 24 (or maybe not!). My guess is that at least a few of your share this confusion, which of course brings apprehension as well. Are we doing the right things, and do we even know what the right things are?
Times of uncertainty often call for us to go “back to basics,” to be sure that we are managing the small things. This could mean a careful focus on cost control, aggressive marketing efforts to develop new customers and clients, renewed efforts to simplify our purchasing and inventory management so that the right products are available at the right time, etc. These are generally the building blocks that successful businesses are built on; and they are effective actions at almost any point in your business’ life cycle.
Whether you manufacture goods or operate a veterinary practice, think about the basics that keep your business going. Now is the time to be sure that you have control of the issues that you CAN control. None of us can control the overall economy, but we can make sure that our life – and our business – is in the best possible shape to withstand the pressures of the unknown.
Jim Kroman
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YOUR VIEW
Last week we asked if your company has any initiatives focused on building or maintaining your customers’ trust. 69% replied “no,” and 31% said “yes.” See the above; perhaps this is the time for that 69% to re-focus a bit on trust..
This week
This week’s question focuses on fun! Now that we have survived the pandemic, will you attend a professional sporting event this summer? Any professional sport will do – baseball, soccer, racing, whatever. Let us know.
Do you plan to attend a professional sporting event this summer?
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