IDEXX announces major expansion of rapid overnight service
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IDEXX announces major expansion of rapid overnight service

This week, IDEXX laboratories, the leading force globally in the provision of veterinary diagnostics and software, announced that it was making a “significant” expansion to its rapid overnight service (IDEXX-Direct), which caters to thousands of rural U.S. veterinary practices. What this means is that, for millions of animals in the U.S., it will now be possible to drop off samples at the end of the day, and have results ready by morning.

IDEXX Laboratories share price has increased by 56% year to date

Source: Yahoo Finance

This potentially transformative service, which will be enabled by a state of the art lab in Kentucky, will let veterinary surgeries be more flexible and, importantly, better equip them to deal with urgent cases. There is an obvious advantage in being able to analyse results, and start treatment plans, as quickly as possible.

According to Dr. Ken Greene, who owns Philema Animal Clinic in Leesburg, Georgia: "Before IDEXX made this major expansion with a new national carrier, we'd need to wait an additional 24 hours or more if we missed our pick-up window—but we don't always have time to wait for a result. There are important tests we can only get with IDEXX, and this later pick-up option will help us to get results faster and ultimately provide better care. This expanded IDEXX-Direct service level offering in our area will enable us to get the benefits of rapid overnight service as well as the essential diagnostic information that IDEXX provides."

Jonathan Ayers, Idexx’s chairman and CEO, said that this service would impact on the ability of more than 20,000 practices in the U.S. In a press release, he also made the following statement:

"IDEXX is constantly working to support veterinary practices to provide the best possible care, and when we expand, we do so to provide an even higher level of service to IDEXX customers. We are pleased that with this new Louisville laboratory, we will be able to bring a more competitive service level—along with the benefits of IDEXX proprietary preventive care testing that helps uncover underlying disease— to thousands of additional veterinary practices and millions of additional pets nationwide."

Disclosure

Dominion holds IDEXX Laboratories in its Global Trends Luxury Fund.


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