– Nextmune acquires market-leading US veterinary allergy business Spectrum and propels from European to global leader in allergy for companion animals
– Nextmune intends to take Spectrum to the next level by investing particularly in new product development, enhanced sales & marketing presence and customer service towards successful treatment of chronic atopic dermatitis and associated symptoms of allergy
– With 1 out of 5 visits to a veterinarian triggered by allergy and skin problems, Nextmune takes a holistic approach to allergy through evidence-based innovation. Nextmune will cross-pollinate among its businesses in Europe and US to fully exploit the potential in its leading global allergy franchise which has been established over the past 18 months
PHOENIX, July 6, 2017 — Nextmune group (“Nextmune”), headquartered in Stockholm, Sweden, today announced that it has completed the acquisition of the assets of Spectrum group (“Spectrum”) and formed Spectrum Veterinary, LLC. Founded by Mervyn Levin in 1989, Spectrum, headquartered in Phoenix (Arizona), USA, is dedicated to helping veterinarians and pet parents provide a better quality of life for pets with allergies. By combining differentiated testing, treatment, technical support and customer service, Spectrum has become one of the leaders in the U.S. allergy market. Spectrum enjoys a proprietary portfolio of tests and treatments offering both subcutaneous and sublingual personalized medicine from its USDA-certified laboratory. In addition to its successful North American business reaching every state in the USA and province in Canada, Spectrum has a strong export business reaching 5 continents across the globe. The business employs 34 staff. Following closing, Mervyn Levin will gradually transition out of the business over the next 12 months and be succeeded by Jonathan Levin (currently serving as Executive Vice President) supported by the management team of Spectrum and the global resources in Nextmune.
“The acquisition of Spectrum represents another key building block on our journey to create a champion in specialty companion animal health company,” says Magnus Kjellberg, CEO of Nextmune group. “The transaction is a perfect match. Nextmune goes from a European #1 to a global leader in allergy with sales in almost 80 countries worldwide. Spectrum represents a compelling platform for entry into the US market and we are committed to taking the business to the next level for the benefit of our patients, pet parents, partners and employees.”
“I am very impressed by what Nextmune has built and its vision in specialty veterinary medicine. Through the resources and capabilities across the Nextmune group, there is significant potential to take the business I founded 28 years ago into the future. I am delighted to find a new home in Nextmune,” says Mervyn Levin.
The transactions are not subject to any further approvals or clearances.
Nextmune is dedicated to improving quality of life for companion animals. The company’s ambition is to be the partner of choice for pet owners and veterinarians in specialized indications. With innovation being at the core of Nextmune, the company will invest in product improvement, supply and sales & marketing initiatives to offer premier treatment for the pet’s condition. The company is committed to an entrepreneurial management approach to ensure veterinarians and pet owners are catered to in the best possible way. Key shareholders of Nextmune are Fidelio Capital (www.fideliocapital.se) and Premune (www.premune.com).
If you are a veterinarian and want to know more about how we can help you treat your allergic patients through allergy diagnostics and treatment, please contact us on info@vetallergy.com or tel: (800) 553-1391, info@artuvet.com or tel: +31 320-783100 and info@alergovet.com or tel: +34 914-134472.
For further inquiries, please contact:
Jon Levin
Executive Vice President, Spectrum Veterinary LLC
480.464.8971
Magnus Kjellberg
CEO of Nextmune
+46 768 837 884, magnus.kjellberg@nextmune.com
What does this mean for you?
Spectrum Veterinary will continue to offer the same great testing, effective treatment, and top quality customer service that you’ve come to love. This also gives us the opportunity for more research and development to ensure we remain on the forefront of technology.
