Zomedica Buys Pulse Veterinary Technologies In $70.9 Mln All-cash, Stock Deal

(RTTNews) - Zomedica Corp. (ZOM), a veterinary health company, announced Friday that it had acquired the Pulse Veterinary Technologies businesses for $70.9 million in an all-cash, stock transaction.

Pulse Veterinary Technologies or PulseVet provides electro-hydraulic shock wave technology for the treatment of a wide variety of conditions in veterinary patients. PulseVet's technology is used in conditions including tendon and ligament healing, bone healing, osteoarthritis, chronic pain, and wound healing.

According to the company, PulseVet is currently the market leader in the equine space with 1,500 systems actively in use globally. It recently launched a new handpiece, the X-Trode, which has an energy output intended for maximum efficacy while no longer requiring patient sedation.

Robert Cohen, Chief Executive Officer of Zomedica, said, "As previously indicated following our fundraising efforts and the establishment of a business development capability, 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."

In the deal, Stifel acted as exclusive financial advisor and Maslon LLP acted as legal advisor to Zomedica.