Expanded agreement strengthens Zomedica's European presence, broadens product portfolio on the market, and positions the Company to capture growth in the multi-billion-dollar global veterinary diagnostics and therapeutic device markets
ANN ARBOR, MI, MI / ACCESS Newswire / October 14, 2025 / Zomedica Corp. (OTCQB:ZOMDF) ("Zomedica" or the "Company"), an animal health company offering innovative point-of-care diagnostic and therapeutic device products for equine and companion animals, today announced that it has entered into an expanded distribution agreement with Grovet b.v., a leading equine health company based in the Netherlands. The amended agreement expands Grovet's existing distribution rights for equine therapeutic devices by adding Zomedica's VETIGEL® hemostatic gel and EquiLoop® therapeutic devices, along with its TRUFORMA® in-clinic diagnostic platform for equine and companion animals.
Expanded Scope of International Partnership
The revised agreement:
Reinforces Grovet's role as a key distribution partner for equine therapeutic devices, e.g. PulseVet® shock wave systems, along with the TRUFORMA diagnostic platform, across Europe.
Provides Grovet the ability to support Zomedica's entry into the EU companion animal market on a transitional basis, while Zomedica continues to expand its distribution network outside of the equine segment.
Adds VETIGEL hemostatic gel and EquiLooptPEMF devices to Grovet's portfolio, expanding access to innovative therapeutic solutions for veterinarians.
Importantly, this agreement enables Zomedica to tap into the equine TRUFORMA market in Europe-building on the strong receptivity seen in the United States where equine veterinarians have rapidly adopted TRUFORMA assays for eACTH and insulin monitoring-while further underscoring the Company's strategy of accelerating global market penetration by aligning with strong regional partners and leveraging their established customer relationships.
Larry Heaton, Chief Executive Officer of Zomedica, commented: "Our partnership with Grovet continues to evolve in ways that deliver strategic value for veterinarians, horse and pet owners, and our shareholders. With Grovet's deep expertise in the European veterinary market, we believe this expanded agreement will accelerate adoption of our innovative technologies, create new revenue opportunities, and strengthen our position as a leader in animal health solutions."
On behalf of Grovet, Koen Schmitz, Chief Executive Officer, stated: "We are excited to deepen our collaboration with Zomedica. Our customers increasingly demand advanced diagnostic and therapeutic options. Adding TRUFORMA, VETIGEL, and Equiloop products to our equine portfolio allows us to offer a broader, world-class suite of solutions to veterinarians across Europe."
Global & Regional Market Tailwinds
The timing of this expanded agreement aligns with strong growth trends across veterinary diagnostics and animal health more broadly:
The global companion animal diagnostics market is estimated at approximately $6.35 billion in 2024 and is projected to reach $11.03 billion by 2030, reflecting a CAGR of ~9.66%. Grand View Research
More broadly, the global veterinary diagnostics market is forecasted to grow from $7.97 billion in 2024 to $17.67 billion by 2032, at a CAGR of ~10.5%. Fortune Business Insights
In Europe specifically, the veterinary diagnostics segment generated ~ $3.15 billion in 2023 and is expected to grow at ~9.6% CAGR through 2030. Grand View Research
In the equine space, the European equine healthcare market was valued at ~ $1.13 billion in 2023 and is forecast to grow at ~6.87% through 2030, reaching ~$1.88 billion. Grand View Research
The global equine diagnostic services sector is projected to reach $0.24 billion by 2025 and grow at ~5.6% annually through 2033. Cognitive Market Research
Taken together, these factors suggest that the expansion of the Grovet partnership is more than an operational adjustment-it is a strategic foundation that can contribute to accelerated market penetration in Europe, stronger partner relationships, and meaningful revenue and margin expansion over time. By extending Zomedica's product suite into new regions, the Company is positioning itself for sustainable growth and enhanced shareholder value, with global market tailwinds underscoring the opportunity to scale diagnostic and therapeutic device offerings as veterinarians increasingly demand more rapid, cost-effective, point-of-care solutions.
Leadership & Partner Perspectives
"This expanded agreement with Grovet represents another important step in Zomedica's international growth strategy," said Kevin Klass, Zomedica's Senior Vice President of Sales. "By extending our distribution into the companion animal segment beyond the UK with the TRUFORMA diagnostic platform and adding novel products such as VETIGEL hemostatic gel and EquiLoop therapeutic devices, we are positioning Zomedica to capture greater share across multiple veterinary care markets internationally."
Takeaways & Outlook
This agreement materially expands Zomedica's total addressable market by adding equine and companion animal diagnostics and therapeutic devices in Europe, leveraging Grovet's go-to market capabilities in high-potential territories.
With diagnostics and therapeutic devices under one umbrella, the Company is better positioned to cross-sell and bundle solutions, increasing lifetime value per customer.
The accelerated scale in Europe provides a strong springboard for further expansion into adjacent geographies via existing or new distribution partners.
In the context of robust global growth in veterinary diagnostics and animal health, this agreement validates Zomedica's technology roadmap and strengthens the foundation for future revenue and margin expansion.
About Grovet - Equine health company
Grovet has been supporting equine veterinarians with high-quality products for over 25 years. Our team consists of people who are passionate about horses, which is why horse health is at the heart of everything we do.
With our extensive experience and knowledge, we offer a wide range of innovative products, including medicines, instruments, MedTech, nutrition and supplements to support equine veterinarians. We are committed to continuously improving and expanding our product line to meet the evolving needs of equine practitioners. By working closely with veterinarians and industry experts, we stay up to date on the latest trends and challenges, allowing us to provide effective solutions that help vets deliver the best care possible.
A key example of our ongoing commitment to innovation is our successful collaboration with Zomedica. This partnership has allowed us to expand our product offerings with the PulseVet system and now the TRUFORMA equine line of products. PulseVet products are highly regarded by our clients and fit seamlessly into Grovet's existing range and customer base. Our clients are pleased to have access to these products through a European distributor, making it easier than ever to incorporate them into their veterinary practices.
For more information about our products or to explore partnership opportunities, please visit www.grovet.com or contact us directly.
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About Zomedica
Zomedica is a leading equine and companion animal healthcare company dedicated to improving animal health by providing veterinarians with innovative therapeutic and diagnostic solutions. Our gold standard PulseVet® shock wave system, which accelerates healing in musculoskeletal conditions, has transformed veterinary therapeutics. Our suite of products also includes the Assisi Loop® line of therapeutic devices, the TRUFORMA® diagnostic platform, the TRUVIEW® digital cytology system, the VETGuardian® no-touch monitoring system, and VETIGEL® hemostatic gel, a revolutionary hemostatic gel that rapidly stops bleeding-each designed to empower veterinarians to deliver top-tier care. In the aggregate, their total addressable market in the U.S. exceeds $2 billion. Headquartered in Michigan, Zomedica employs approximately 150 people and manufactures and distributes its products from its world-class facilities in Georgia and Minnesota. Zomedica grew revenue 8% in 2024 to $27 million and maintains a strong balance sheet with approximately $59 million in liquidity as of June 30, 2025. Zomedica is advancing its product offerings, leveraging strategic acquisitions, and expanding internationally as we work to enhance the quality of care for pets, increase pet parent satisfaction, and improve the workflow, cash flow and profitability of veterinary practices. For more information visit www.zomedica.com.
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Except for statements of historical fact, this news release contains certain "forward-looking information" or "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur and include statements relating to our expectations regarding future results. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance, or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.
Forward-looking information is based on the opinions and estimates of management at the date the statements are made, including assumptions with respect to economic growth, demand for the Company's products, the Company's ability to produce and sell its products, sufficiency of our budgeted capital and operating expenditures, the satisfaction by our strategic partners of their obligations under our commercial agreements and our ability to realize upon our business plans and cost control efforts.
Our forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: the outcome of clinical studies, the application of generally accepted accounting principles, which are highly complex and involve many subjective assumptions, estimates, and judgments, uncertainty as to whether our strategies and business plans will yield the expected benefits; uncertainty as to the timing and results of development work and verification and validation studies; uncertainty as to the timing and results of commercialization efforts, including international efforts, as well as the cost of commercialization efforts, including the cost to develop an internal sales force and manage our growth; uncertainty as to our ability to realize the anticipated growth opportunities from our acquisitions; uncertainty as to our ability to supply products in response to customer demand; supply chain risks associated with tariff changes; uncertainty as to the likelihood and timing of any required regulatory approvals, and the availability and cost of capital; the ability to identify and develop and achieve commercial success for new products and technologies; veterinary acceptance of our products and purchase of consumables following adoption of our capital equipment, particularly in Europe; competition from related products; the level of expenditures necessary to maintain and improve the quality of products and services; changes in technology and changes in laws and regulations; our ability to secure and maintain strategic relationships; performance by our strategic partners of their obligations under our commercial agreements, including product manufacturing obligations; risks pertaining to permits and licensing, intellectual property infringement risks, risks relating to any required clinical trials and regulatory approvals, risks relating to the safety and efficacy of our products, the use of our products, intellectual property protection, and the other risk factors disclosed in our filings with the SEC and under our profile on SEDAR+ at www.sedarplus.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
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SOURCE: Zomedica Corp.
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