Swedencare AB (publ) ("Swedencare") have per October 1[st] acquired the Greek pet healthcare distributor Biovet I.K.E. ("Biovet"), which offers both pet healthcare products as well as equipment to veterinarians on the Greek and Cypriot markets. The purchase price of 551 000 Euro includes a cash payment of 350 000 Euro as well as 201 000 Euro in 31,358 new issued shares of Swedencare AB.
Biovet was founded in Thessaloniki in 2005 by the well-known veterinarian Dr. Vasilios Phychogios. Since 2012 the company is managed by the main owner, Ioanna Psychogiou. Biovet is today a well-reputed company with a sales organization which covers the entire Greece and Cyprus. The company have since a few years successfully distributed Swedencare's ProDen PlaqueOff® line and also started selling NutriScience products.
After the acquisition the founder Vasilios Psychogios and the current Managing Director Ioanna Physchogiou will remain in their positions where Vasilios Phychogios will be a spokesperson for the company and its products in mainly veterinarian forums.
Biovet had revenues of 653 000 Euro in 2018.
· Ioanna Psychogiou, MD Biovet
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