Zomedica Stock Soars After $71M Pulse Veterinary Acquisition

Zomedica Corp ZOM has acquired the Pulse Veterinary Technologies businesses for $70.9 million in a cash and stock transaction.
Pulse Veterinary Technologies (PulseVet) provides electro-hydraulic shock wave technology to treat a wide variety of conditions in veterinary patients.
The high-energy sound waves stimulate cells and release healing growth factors in the body that reduce inflammation, increase blood flow, and accelerate bone and soft tissue development.
PulseVet's technology is used in tendon and ligament healing, bone healing, osteoarthritis, chronic pain, and wound healing.
Approximately 1,500 PulseVet systems are 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.
Zomedica held cash and equivalents of approximately $276.2 million as of June 30, 2021.
Price Action: ZOM stock is up 24.20% at $0.65 during the premarket session on the last check Friday.