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Brakke Consulting’s
Animal Health News & Notes for July 12, 2024
Copyright © Brakke Consulting
Editor: Lynn Fondon DVM MBA
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IN THE NEWS:
Brakke Consulting News
Transaction Insights Seminar
Earnings News
ImmuCell
Other News
Adisseo
AECI Animal Health
Animal Health Angels
Arcaplanet
Cal-Maine Foods
Covetrus
Elanco
FirstVet
Fressnapf
GlobalVetLink
Globion
HT Vet
Inflexion
ISE America
Kyoritsu Holdings
Lintbells
MI:RNA
Norbrook Laboratories
NovaQuest
Nutreco
PetDesk
Pharmaq Analytiq
STIM
Syngenta
TELUS Global Ventures
Valley Veterinary Care
VANE
The Veterinary Cooperative
Veterinary Innovative Partners
Veterinary Management Groups
Vetnique Labs
Virbac (management change)
Virbac (Globion)
Wedgewood
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Brakke Consulting
Transaction Insights: Unlocking the Secrets to Successful Business Deals in Animal Health
Wednesday, August 28th | Kansas City
Many of our News & Notes newsletter readers noticed the spelling error in the subject line of the email we sent out yesterday – we did too, right after it was sent out! We blame competing auto-correcting software systems, not our proofreading cabapilities. But, thanks to a missing apostrophe, we did get your attention and hope you sign up.
Are you seeking to navigate the complex landscape of buying and selling businesses or technology in the animal health and nutrition industry? Given the success of last year’s relaunch, we are excited to announce our educational transaction seminar for 2024, 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. This one-day comprehensive seminar is designed to equip you with the knowledge, tools, and strategies to make informed decisions and to successfully manage a transaction in the animal health industry.
Presenters include Senior Brakke Consultants Jim Kroman, Paul Casady, and Randy Freides. The Seminar will be held on Wednesday August 28th, immediately following the KCAHC Animal Health Summit in Kansas City. Click here to sign up today and receive a discount.
To view the full agenda for this meeting, click here.
For more information, contact Amanda McDavid at amcdavid@brakkeconsulting.com or 336.396.3916.
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EARNINGS NEWS RELEASES
- ImmuCell Corporation announced preliminary, unaudited sales results for the second quarter of 2024. Sales were $5.47 million, a 55% increase over the prior-year quarter. (company press release)
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2024 Animal Health Summit
August 26-27, 2024
Location: Midland Theatre | Kansas City, MO
Registration is now open for the 2024 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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COMPANY NEWS RELEASES
- The Veterinary Cooperative (TVC) announced a new partnership with Elanco Animal Health, offering exclusive savings on Elanco’s extensive portfolio. (com)
- Virbac announced the resignation of Sébastien Huron from his position as chief executive officer. The board of directors has appointed Habib Ramdani, currently chief financial officer and deputy chief executive officer, as interim CEO while the appointments and compensation committee recruits the next chief executive officer. (com)
- The FDA announced it has approved Norbrook Laboratories‘ Felanorm (generic methimazole oral solution) for the treatment of hyperthyroidism in cats. (FDA)
- Adisseo introduced Mycoman, its new all-in-one digital solution that helps proactively manage risks in combating the negative effects of mold and mycotoxins. The Mycoman digital platform helps anticipate the mycotoxin contamination in feed with prevision through a partnership with Syngenta. (Feedstuffs)
- Wedgewood announced that Marcy Bliss will retire from her role as Chief Executive Officer. She will retain her position on the Wedgewood Board and serve as a Senior Advisor to the incoming CEO and Board. Alejandro Bernal, DVM, MS, MBA, has been named the incoming CEO of Wedgewood Pharmacy; he was most recently President and CEO of PetDx. (com)
- Vetnique Labs announced it has agreed to acquire Lintbells, the manufacturer of YuMOVE pet supplements, from European private equity investor Inflexion. Vetnique is backed by Gryphon Investors. Financial terms were not disclosed. (Pet Product News)
- Veterinary Innovative Partners (VIP), a network of veterinarian-owned-and-operated hospitals across nine states, announced its acquisition of Valley Veterinary Care, a veterinary care group with 24 clinics across Texas, California and Colorado. Financial terms were not disclosed. (com)
- HT Vet announced Covetrus as a US national distributor of the HT Vista cancer screening tool, only non-invasive dermal and subcutaneous cancer screening product for dogs. (company press release)
- GlobalVetLink (GVL) announced the launch of its Pet Travel Concierge Service, which provides comprehensive support for all aspects of international pet travel documentation. (prnewswire)
- PetDesk announced a strategic partnership with Veterinary Management Groups (VMG). The collaboration will bring PetDesk’s innovative technology to VMG’s dedicated members. (prnewswire)
- Cal-Maine Foods, Inc. announced it has completed the acquisition of substantially all the assets of ISE America, Inc. and certain affiliates for approximately $110 million. The acquired ISE assets include commercial shell egg production and processing facilities with current capacity of approximately 4.7 million laying hens, feed mills, as well as an extensive customer distribution network across the Northeast and Mid-Atlantic states. (Feedstuffs)
- INDIA Virbac announced that it has acquired the remaining minority shares in Indian poultry vaccine company Globion, thereby increasing its stake to 100%. The transaction follows the acquisition of a 74% majority stake on November 1, 2023. Financial terms were not disclosed. (com)
- SCOTLAND MI:RNA, a veterinary diagnostics company, has secured $4 million in Series A funding. Funds were raised from lead investor NovaQuest, Kyoritsu Holdings, VANE and Animal Health Angels as well as three existing investors. (co.uk)
- ITALY Fressnapf announced it has acquired pet retailer Arcaplanet, adding 560 locations across Italy. Financial terms were not disclosed. (Globalpets)
- SWEDEN FirstVet, a Sweden-based online pet health service provider, has secured EUR 20 million ($21.4 million) in a Series C funding round led by TELUS Global Ventures and existing investors. The capital injection will accelerate product development and support the company’s expansions plans in North America. (Globalpets)
- AFRICA Nutreco announced it will acquire South African company Chemfit Fine Chemicals Proprietary Ltd. t/a AECI Animal Health. AECI AH’s strengths complement Nutreco’s Trouw Nutrition South Africa’s operations. Financial terms were not disclosed. (Feed Strategy)
- UK Aquaculture and fish health service provider STIM has entered an agreement to purchase the fish health and environmental services arm of Pharmaq Analytiq for an undisclosed sum. The deal will see STIM acquire Pharmaq services in Scotland and Ireland. The acquisition comes four months after private equity fund Summa Equity acquired STIM from its former parent company Nordly Holding for an undisclosed amount. (com)
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ANIMAL HEALTH STOCK PRICE TRACKER
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ANIMAL HEALTH NEWS
- THAILAND – CAT HEALTH RESEARCH Researchers from Chulalongkorn University (Chula) in Bangkok, Thailand have developed an in-home cat urine test kit for the detection of hematuria. The test is run using urine-soaked cat litter and provides results in 5-10 minutes. (DVM360)
- US – BOVINE TB RESEARCH Researchers across various universities are developing a new vaccine and delivery system to prevent bovine tuberculosis (TB) in free-roaming white-tailed deer, a primary reservoir for the disease. The development is a mucosal, oral, probiotic-based vaccine that was designed to withstand the intestinal mucosal barrier. The new bovine TB vaccine project, which received a grant from the United States Department of Agriculture, has the potential of being engineered to protect other wildlife animals against any infectious disease, such as the highly pathogenic H5N1 avian influenza, due to the flexible nature of the vaccine’s delivery mechanism, which is similar to a nanoparticle delivery system. (DVM360)
- US – AVIAN INFLUENZA Research led by University of Wisconsin-Madison researchers suggests that exposure to raw milk infected with the currently circulating H5N1 avian influenza virus poses a real risk of infecting humans, but that the virus may not spread very far or quickly to others. The research found that H5N1 avian influenza virus taken from infected cow’s milk makes mice and ferrets sick when dripped into their noses, but airborne transmission of the virus between ferrets — a common model for human transmission — appears to be limited. The research was published in the journal Nature. (Feedstuffs)
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BRAKKE CONSULTING VIEWPOINT
In business, “blind spots” can significantly undermine value and growth. These are the unseen or unacknowledged areas in operations that increase the chances for strategic errors, missed opportunities, and catastrophic failures. Blind spots can arise from overconfidence, cognitive biases, ignoring consumer trends, insufficient data analysis, ineffective communication, and resistance to digital technology.
Consider PetSmart’s acquisition of Chewy in 2017 for $3.35 billion. Aiming to boost its online presence amid declining brick-and-mortar sales, this strategic move was meant to compete with Amazon and other e-commerce giants. However, the complex integration process between the two companies strained PetSmart financially. This ultimately led to significant restructuring, and in 2019, PetSmart spun off Chewy through an IPO to alleviate debt pressures.
A common blind spot in the pet care industry is ineffective communication. The 2024 Brakke Pet Medicine Home Delivery Study highlighted a couple of examples here: 1) An overwhelming majority of pet owners say home delivery helps them remember to give pet medicines, while more than half of veterinarians remain skeptical about increased compliance; 2) 75% of veterinarians say their staff actively promotes their practice’s online store and home delivery service, yet more than half of pet owners say they don’t know if their vet offers this.
Identifying and addressing these blind spots requires constant market analysis, rigorous risk management, and adaptive leadership. As the pet care industry evolves, businesses must continually refine their vision to avoid unseen challenges and ensure sustained value and growth.
Richard Hayworth
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YOUR VIEW
Last week, we asked about your plans for Independence Day. Most of you – 74% – said you planned to celebrate with friend & family at home; another 11% spent it with family & friends at a park or public venue. 9% used the time off as part of a vacation, and 6% said you don’t celebrate or take the day off.
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