Zomedica Enters Into Strategic Investment and Potential Collaboration for VetGuardian Monitoring Product Line
Zomedica Corp., a veterinary health company offering diagnostic and therapeutic products for companion animals, announced that it has purchased a $1.0 million convertible note from UF startup Structured Monitoring Products, Inc. (SMP), makers of the VetGuardianTM wireless remote pet monitoring platform, and in connection therewith has acquired the option to act as a sales agent for SMP’s platform. Under the terms of the agreement, Zomedica will also have the option to acquire the VetGuardian product line for use in Animal Health. Exercise of both options is subject to certain conditions, including negotiation and execution of mutually acceptable agreements.
The VetGuardian Platform improves the quality of care of pets during recovery from surgery, and for those staying in clinic overnight by providing real time remote monitoring of the pet’s vital signs with the ability to alert staff if the vital signs exceed preset ranges. Its unique patented doppler technology allows VetGuardian to read vital signs in real time without wired leads, or a harness on the pet, thus allowing the pet to rest comfortably during recovery.
“We are excited to announce this investment and potential collaboration with SMP” said Greg Blair, VP of Business Development for Zomedica, who will become a member of SMP’s Board of Directors pursuant to the terms of the agreement. “This investment is part of Zomedica’s ongoing commitment to working with partners across the veterinary industry in flexible ways to bring innovative products that provide clinical value to market. This investment will enable SMP to accelerate the development and commercialization of VetGuardian.”
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