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Brakke Consulting’s
Animal Health News & Notes for July 26, 2024
Copyright © Brakke Consulting
Editor: Lynn Fondon DVM MBA
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IN THE NEWS:
Brakke Consulting News
Transaction Insights seminar
Earnings News
Animalcare Group
Krka
Nestle
Other News
Canopy Capital Partners
CVS Group
Ellie Diagnostics
Erchonia
Heart + Paw
IDEXX
Insuritas
Merck
Odie Pet Insurance
Pet Palette Distribution
ScriptSure
Surescripts
Vetericyn
Wedgewood
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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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EARNINGS NEWS RELEASES
- Nestle SA reported results for the first half of 2024. Petcare sales were CHF 9.45 billion ($10.73 billion), a 1% increase compared to the prior-year period (+1% real internal growth). Underlying TOP was CHF 2.09 billion ($2.37 billion), a 6% increase. (company website)
- Krka reported results for the second quarter of 2024. Revenue was EUR 499 million ($541 million), an increase of 8% from the prior-year quarter. Net income was EUR 123.0 million ($133 million), up 52%. (st)
- Animalcare Group reported results for the six months ended June 30 2024. Revenue from continuing operations, excluding Identicare, was GBP 36.9 million ($47.5 million), an increase of 5%. (com)
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Brakke Consulting
Transaction Insights: Unlocking the Secrets to Successful Business Deals in Animal Health
Wednesday, August 28th | Kansas City
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.
For more information, contact Amanda McDavid at amcdavid@brakkeconsulting.com or 336.396.3916.
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COMPANY NEWS RELEASES
- Merck Animal Health introduced FlockSecure poultry health portal, a web-based platform solution designed for the broiler industry to capture, maintain, distribute and analyze data from post-mortem sessions. The system has the capability to analyze and compare data across farms, complexes, and within production companies to track health progress over time. (Feedstuffs)
- Vetericyn launched Triple Action Ear Treatment for dogs and cats, providing healing relief for irritation caused by otitis externa or swimmer’s ear. It includes: hydrocortisone; Otizyme enzymatic blend to remove buildup; and Botaniplex natural extracts. (Pet Product News)
- Erchonia announced its expansion into the veterinary market, bringing its advanced hand-held laser technology to veterinarians and pet parents. (Veterinary Practice News)
- Ellie Diagnostics announced a strategic partnership with Heart + Paw, which will transition its network of 28 hospitals across 10 states to Ellie’s laboratory services platform. (prweb)
- Wedgewood announced a direct integration between Wedgewood’s online pharmacy and e-prescribing platform, Blue Rabbit, and ezyVet, IDEXX’s cloud-based practice information management software. (businesswire)
- Surescripts announced it is expanding its e-prescribing services to include medications ordered by veterinarians in a new partnership with DAW Systems, Inc. (ScriptSure). (com)
- Odie Pet Insurance announced a strategic partnership with Insuritas through which Insuritas’ financial institution customers now have access to Odie’s customizable and affordable pet insurance coverage. (Pet Business)
- Private equity firm Canopy Capital Partners has acquired Pet Palette Distribution’s business assets. Financial terms were not disclosed. (Pet Product News)
- CVS Group announced it is expanding its proprietary Knowledge Hub platform to its Australian practices, giving them access to over 450 veterinary and management courses, programs and webinars on demand. (com.au)
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ANIMAL HEALTH STOCK PRICE TRACKER
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ANIMAL HEALTH NEWS
- US – VETERINARY STAFF WELL-BEING Results of a new, comprehensive study of well-being, mental health and burnout of veterinary practice team members has just been published in the Journal of the American Veterinary Medical Association (JAVMA). The research was conducted by Brakke Consulting and sponsored by Merck Animal Health. Lead author of the report is Brakke Consulting Senior Consultant John Volk, who was also the project leader for the study. The study provided meaningful insights into how non-veterinarian team members compare to veterinarians and the general population on key metrics. (company announcement)
- BRAZIL – NEWCASTLE DISEASE Officials at Brazil’s Agriculture Ministry have declared an animal health emergency following an outbreak of Newcastle disease at a commercial poultry farm in the country’s southernmost state. The farm was immediately quarantined, and an investigation is being carried out within a 10-km radius around the outbreak area. The last confirmed cases of Newcastle disease in Brazil were recorded in 2006. (brazilianreport, Reuters)
- US – AVIAN INFLUENZA A new study conducted by Cornell researchers has provided evidence that a spillover of avian influenza from birds to dairy cattle across several U.S. states has now led to mammal-to-mammal transmission – between cows, and from cows to cats and a raccoon. The research was published in Nature. (cornell.edu)
- US – PET FOOD REGULATION The Pet Food Institute (PFI) has launched a webinar series that enables pet food producers to listen, learn, and collaborate on the new Pet Food Label Modernization initiative label guidelines. The webinars can be registered for in the events section of PFI’s industry site. All webinars are free of charge. (Pet Products News)
- US – PET TRAVEL REGULATIONS Following their initial announcement regarding the importation regulation of dogs coming to the U.S., the Centers for Disease Control and Prevention (CDC) has released some updates to provide greater flexibility to the requirements. The clarified and simplified processes apply to travelers with dogs being brought to the U.S. from rabies-free and low-risk dog rabies countries starting Aug. 1, 2024. For more information, visit the CDC website. (Veterinary Practice News)
- US – LEPTOSPIROSIS RESEARCH The Virginia Commonwealth University School of Medicine has developed both a laboratory-based test and a point-of-care test for leptospirosis, as well as a new vaccine. A grant from the Virginia Innovation Partnership Corporation is supporting the final stages of development and push the technology into the commercialization stage. (vcu.edu)
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BRAKKE CONSULTING VIEWPOINT
Succession – Plan your endgame
In the busy day-to-day running of a business, especially start-ups and partnerships, the thought of a planned endgame rarely demands any priority and is often totally neglected until there is a real need for it.
Very often partial planning is the biggest issue. When a key partner experiences a catastrophic event, like an accident or severe health issues, a short-term plan is usually available, but the longer-term impact of the event is usually never considered.
There is no single successful endgame, and it may even change over time:
- In some businesses, a total sale is the best fit, especially when all partners have the desire to exit at the same time. In this situation, what is your plan to maximize the value of the enterprise? As partners what is your plan to ensure the business is “clean” and does not have private financial considerations? Should one partner fall away, what is the short and long term plan?
- In other businesses there may be a next generation to consider. How do they take over assets, without any major disruption?
Regardless of what the endgame is, it needs be defined and communicated to all stakeholders. My hope is that this piece, stops you to think about the ultimate outcome of a lifetime’s work and sweat equity, which you have/are putting into your business. Why not plan early and well for a WIN?
How often do you evaluate your succession strategy, to ensure it aligns well with YOUR planned endgame? We’d be happy to help.
Lourens Havenga
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YOUR VIEW
Last week, we asked in McKinsey’s just completed June survey, what did their respondents tell them about the economy? 41% of you thought that the likelihood of a soft landing increased from 63% in the previous survey, and the same percentage thought that the likelihood decreased; 18% thought it stayed the same.
The answer: it decreased – 47% thought that a soft landing would happen, a 16% drop. (source)
This week
What percentage of small start-up companies have a written exit plan in place?
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