LOVELAND, Colo., Jan. 3, 2023
/PRNewswire/ -- Heska Corporation (NASDAQ: HSKA; "Heska" or the
"Company"), a leading global provider of advanced veterinary
diagnostic and specialty products and solutions, today announced
the completion of acquisition of 100% of the shares of MBio
Diagnostics, Inc. d/b/a LightDeck Diagnostics ("LightDeck"), a
pioneer in planar waveguide fluorescence immunoassay diagnostics
with strong manufacturing capabilities and research and development
expertise (the "Acquisition").
The Acquisition, which was first announced on September 12, 2022, represents a key advancement
in the Company's strategic plan to accelerate research and
development and manufacturing capabilities at scale. Founded in
2009 in Boulder, Colorado,
LightDeck has developed a scalable and innovative platform based on
an extensive intellectual property for rapid and accurate point of
care diagnostics. LightDeck's planar waveguide technology optimizes
laser activated fluorescence and microfluidics to produce point of
care cartridge-based testing for quantitative results in minutes
with inexpensive, easy-to-use workflow. LightDeck's facilities
include fully equipped laboratories for assay development,
controlled manufacturing capabilities, and a new, state-of-the-art,
fully automated facility in Longmont,
Colorado that will further advance in-clinic testing
manufacturing at scale. The Longmont facility, anticipated to go online in
2023, will dramatically increase Heska's manufacturing production
capacity and research and development efforts in furtherance of
several potential blockbuster testing platforms, including the
Company's exclusive canine cancer screening platform anticipated to
launch in 2023.
Heska management expects to comment further on the Acquisition
and provide additional details in the Company's fourth quarter and
full year 2022 financial earnings release and conference call late
February 2022.
About Heska
Heska Corporation (NASDAQ: HSKA)
manufactures, develops and sells advanced veterinary diagnostic and
specialty healthcare products through its two business segments:
North America and International.
Both segments include Point of Care Lab testing instruments and
consumables, digital imaging products, software and services, data
services, allergy testing and immunotherapy, and single-use
offerings such as in-clinic diagnostic tests and heartworm
preventive products. The North
America segment also includes private label vaccine and
pharmaceutical production under third-party agreements and
channels, primarily for herd animal health. For more information,
please visit www.heska.com.
Forward-Looking Statements
Forward-looking
statements in this document include, among other things, statements
with respect to the business of LightDeck and the benefits of
the Acquisition, strategic goals, cash-on-hand projections,
market scenarios, uncertainties related to Heska's ability to
sell and market its products in an economically sustainable
fashion, including related to varying customs, cultures, languages
and sales cycles, and uncertainties with respect
to foreign economic climates. Such statements are subject to
risks and uncertainties. Factors that could cause actual
results to differ materially from those matters expressed in or
implied by such forward-looking statements, include uncertainties
with respect to the ongoing COVID-19 global pandemic and
geo-political turmoil, the Company's ability to effectively
integrate LightDeck, market and currency conditions, the
performance of LightDeck with respect to post-closing
obligations, the future performance of the Company's newly acquired
customers, suppliers and distributors, and those factors set
forth under "Risk Factors" in the Company's most recent annual
report on Form 10-K.
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SOURCE Heska Corporation