Zomedica Corp. (NYSE: ZOM) shares have gained 8.85% at $1.23 in the early trades Tuesday. The Zomedica stock closed last trading session at $1.13, an increase of nearly 19%. A trading volume of 102.35 million shares was recorded by ZOM stock, which was above the daily average of 78.7 million shares. The recent changes made in ZOM’s business model have on the other hand made it noteworthy despite the lack of current news that might cause the ZOM stock to surge.
The Ann Arbor, Michigan-based Zomedica is a veterinary health company that focuses on the unmet needs of veterinarians by making products for dogs and cats. ZOM will offer diagnostics and medical devices that prioritize patient health and practice health. ZOM’s mission is to provide veterinarians with opportunities to grow their productivity and improve the quality of care while providing veterinary medicine that consumers want and need.
A recent announcement from Zomedica indicates that the company intends to further expand its direct sales group while pulling back on sales through distributors. Robert Cohen, Chief Executive Officer of Zomedica, commented:
- ZOM decided that TRUFORMA would use a direct sales model instead of distributor-based sales as its market presence grew.
- A direct sales organization will be set up as soon as possible after ZOM’s current distributor undergoes significant changes that impacted its ability to market products effectively.
- Zomedica has taken this action now to continue providing TRUFORMA and any future products developed or acquired by the company with a solid foundation upon which to build the marketing and sales efforts for both now and in the future.
How ZOM will be benefited?
Current Zomedica (ZOM) employees include eight direct field sales representatives, two regional managers, a Vice President of Sales, and a Chief Commercial Officer. When it comes to providing services and selling products in the veterinary market to customers for a longer time, ZOM will greatly benefit from setting up a direct sales force.