PetIQ, Inc. Provides Update on Wellness Center Openings
December 05 2019 - 04:05PM
PetIQ, Inc. (“PetIQ” or the “Company”) (Nasdaq: PETQ), a leading
pet medication and wellness company, provided an update on its
year-to-date wellness center openings. In November, the
Company opened 34 new wellness centers for a total of 60 wellness
centers across 22 states year-to-date. The Company remains
on-track to achieve its stated plan for 80 new wellness center
openings in 2019 with 20 planned openings in December.
“PetIQ remains uniquely positioned through our
complementary veterinarian products and services offering, which is
anchored in our mission of providing Smarter Pet Health through
affordable and convenient products and services solutions that are
accessible to all pet parents,” commented Susan Sholtis, PetIQ’s
President. “Our wellness center growth strategy is advantaged by
our national network of community clinic locations that serve as an
incubator for future growth, while mitigating execution risk and
maximizing returns on investment. Our team is continually
optimizing our pop-up, community clinic base, adding new locations
with our host retail partners and discontinuing others that aren’t
meeting our performance standards. We are excited about our
2019 class of wellness center openings which leverage our intimate
knowledge of the customer base from our network of community
clinics and surrounding demographic profile.”
In conjunction with this update, the Company has
provided historical quarterly segment-level adjusted EBITDA and
sales information on its investor relations website under the
Financial Information section to assist investors with their
analysis of the quarterly performance of both of PetIQ’s business
segments, ir.petiq.com.
For additional information on upcoming wellness center openings,
please visit: https://petiq.com/locations/
A detailed list of community clinic locations
can be found here: https://www.vippetcare.com/find-a-clinic/
About PetIQ
PetIQ is a leading pet medication and wellness
company delivering a smarter way for pet parents to help their pets
live their best lives through convenient access to affordable
veterinary products and services. The company engages with
customers through more than 60,000 points of distribution across
retail and e-commerce channels with its branded distributed
medications, which is further supported by its own world-class
medications manufacturing facility in Omaha, Nebraska. The
company’s national service platform, VIP Petcare, operates in over
3,400 retail partner locations in 41 states providing cost
effective and convenient veterinary wellness services. PetIQ
believes that pets are an important part of the family and deserve
the best products and care we can give them.
Forward Looking Statements
This press release contains forward-looking
statements that involve risks and uncertainties, such as statements
about our plans, objectives, expectations, assumptions or future
events. In some cases, you can identify forward-looking statements
by terminology such as "anticipate," "estimate," "plan," "project,"
"continuing," "ongoing," "expect," "believe," "intend," "may,"
"will," "should," "could" and similar expressions.
Forward-looking statements involve estimates, assumptions, known
and unknown risks, uncertainties and other factors that could cause
actual results to differ materially from any future results,
performances, or achievements expressed or implied by the
forward-looking statements. Forward-looking statements should not
be read as a guarantee of future performance or results, and will
not necessarily be accurate indications of the times at, or by,
which such performance or results will be achieved. Forward-looking
statements are based on information available at the time those
statements are made or management's good faith belief as of that
time with respect to future events, and are subject to risks and
uncertainties that could cause actual performance or results to
differ materially from those expressed in or suggested by the
forward-looking statements. Important factors that could cause such
differences include, but are not limited to, our ability to
successfully grow our business through acquisitions; our dependency
on a limited number of customers; our ability to implement our
growth strategy effectively; disruptions in our manufacturing and
distribution chains; competition from veterinarians and others in
our industry; reputational damage to our brands; economic trends
and spending on pets; the effectiveness of our marketing and trade
promotion programs; recalls or withdrawals of our products or
product liability claims; our ability to manage our manufacturing
and supply chain effectively; disruptions in our manufacturing and
distribution chains; our ability to introduce new products and
improve existing products; our failure to protect our intellectual
property; costs associated with governmental regulation; our
ability to keep and retain key employees; our ability to sustain
profitability; and the risks set forth under the “Risk Factors” of
our Annual Report on Form 10-K for the year ended December 31, 2018
and other reports filed time to time with the Securities and
Exchange Commission.
Additional risks and uncertainties not currently
known to us or that we currently deem to be immaterial also may
materially adversely affect our business, financial condition or
operating results. The forward-looking statements speak only
as of the date on which they are made, and, except as required by
law, we undertake no obligation to update any forward-looking
statement to reflect events or circumstances after the date on
which the statement is made or to reflect the occurrence of
unanticipated events. In addition, we cannot assess the impact of
each factor on our business or the extent to which any factor, or
combination of factors, may cause actual results to differ
materially from those contained in any forward-looking statements.
Consequently, you should not place undue reliance on
forward-looking statements.
CONTACT:
Investor
Relations Contact: |
Media
Relations Contact: |
ICRJeff Sonnek646-277-1263
jeff.sonnek@icrinc.com |
ICRCory
Ziskind646-277-1232cory.ziskind@icrinc.com |
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