ZOM - Zomedica makes strategic investment to acquire pet monitoring platform

The veterinary health company Zomedica (NYSE:ZOM) announced Thursday the purchase of a $1.0 million convertible note of Ohio-based animal care company Structured Monitoring Products, Inc. giving it an option to act as a sales agent for SMP's platform. Per the terms of the agreement, Zomedica (ZOM) will also have an option to acquire the VetGuardian product line, which allows real-time remote monitoring of the pet's vital signs during the clinic or after surgery. The exercise of both options is contingent upon certain conditions, including negotiations and execution of mutually acceptable agreements, Zomedica (ZOM) said. “This investment will enable SMP to accelerate the development and commercialization of VetGuardian," said Greg Blair, VP of Business Development for Zomedica. According to the terms of the deal, Blair will be part of SMP's Board of Directors following the agreement. Review Zomedica’s (ZOM) 2021 financials.

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Zomedica makes strategic investment to acquire pet monitoring platform