Fountain Report Excerpts July 26, 2022

Fountain Report Excerpts
  1. Last week saw the first release of Q2/2022 financial data. Virbac reported second quarter revenue of 298.3 million euros, a 13.5% increase compared to the same period last year. At constant exchange rates, growth was 7.8%, driven by good performance in both the companion and food animal segments. Revenue for the first half of the year was 616.4 million euros, a 16.4% increase from last year. Adjusted for favorable impact of exchange rates, revenue increased 12%. Companion animal segment revenue in the first half of the year grew 14.2% and revenue from the food animal segment rose 9.9%.
  1. Zomedica Corp., a maker of diagnostic and therapeutic products for companion animals, has acquired substantially all the assets of Assisi Animal Health. Assisi has created a line of targeted pulsed electromagnetic field (tPEMF) devices to treat pain, inflammation, anxiety and behavioral disorders in companion animals. “This acquisition adds a growing product line that furthers our commitment to providing solutions that deliver enhanced companion animal care while improving practice efficiency and economics,” said Zomedica CEO Larry Heaton.
  1. The American Association of Veterinary Medical Colleges has issued a statement on the U.S. veterinary workforce shortage. “Significant shortages of veterinarians exist across all sectors of professional activity and at all levels of specialization,” the AAVMC says. “Although precise numbers are difficult to quantify and specific predictions about future needs are subject to interpretation, the available evidence indicates that these shortages are a result of systemic, long-term trends in pet ownership and demand for veterinary services, along with limited capacity for training veterinary professionals, and are expected to continue unless the veterinary medical profession takes action.” Since 2007, the number of U.S. veterinarians has been increasing at a rate of only 2.7% each year, with 2,000 to 3,000 more open jobs in 2019 than veterinarians available to hire, according to the association, which makes several recommendations for actions to remedy the situation. The full statement is available on the AAVMC’s website.

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