Business and Operational Updates
- Asset Sales
United States :- Closed and recently sold the
Boyertown, Pennsylvania facility. - Closed and signed agreement to sell the
Haslett, Michigan facility. - Closed
Cumberland, Virginia facility now under sales contract.
- Closed and recently sold the
Europe andU.K. :- Closed and recently sold the
Spain facility. - Letter of intent with the buyer of the Blackthorn,
U.K. facility; we plan to lease back the facility until the consolidation and closure of this facility is completed. - Purchase agreement is in process with buyer for facility in
Gannat, France and we expect to close on the sale in the next 60 days.
- Closed and recently sold the
- Infrastructure Expansion and Integration
- Ft. Collins,
Colorado facility expansion to support safety assessment and medical device research is complete, occupancy permit received inOctober 2023 . - Operations from the
Everett, Washington facility have been consolidated into the expanded Ft. Collins facility. This will allow for growth in capacity and services for medical device histopathology. - The Hillcrest,
U.K. facility improvements and expansion are underway and expected to be completed in Q2 of fiscal 2024. This is another critical element of the Research Model business site optimization plan in theU.K. andEurope .
- Ft. Collins,
- In
August 2023 , we announced the sale of ourIsrael businesses. - Corporate
- Inotiv’s inaugural Environmental, Social and Corporate Governance (ESG) Framework Report was posted on our corporate website in
October 2023 .
- Inotiv’s inaugural Environmental, Social and Corporate Governance (ESG) Framework Report was posted on our corporate website in
- Sales Team
- The Company continues to expand the sales team in its Discovery and Safety Assessment (“DSA”) segment, including hiring a sales leader dedicated to expanding our market share in the chemical and crop protection markets.
The Company will be participating in the following investor conferences that will be webcast in
Event: Jefferies London Healthcare Conference
Location:
Presentation Date: November 15, 2023
Time: 4:00 PM Greenwich Mean Time
Event: 6th Annual
Location:
Presentation Date: November 29, 2023
Time: 3:00 PM Eastern Time
Link to Webcast
The webcast presentations will be available for viewing and replay under the “Investor Relations” tab of the Company's website at www.inotivco.com.
About
Cautionary Note Regarding Forward-Looking Statements
This release contains forward-looking statements that are subject to risks and uncertainties including, but not limited to, risks and uncertainties related to the impact of recent events related to non-human primate matters on the Company’s business, operations, results, financial condition, cash flows, and assets, the Company’s ability to comply with covenants under its credit agreement, Company’s ability to reduce its legal and third party fees, changes in the market and demand for the Company’s products and services, the development, marketing and sales of products and services, changes in technology, industry and regulatory standards, the timing of acquisitions and the successful closing, integration and business and financial impact thereof, governmental regulations, inspections and investigations, claims, investigations and litigation against or involving the Company, its business and/or its industry, the expected timing and impact, including on operations, expenses and other results, of site closures and consolidations, expansion and related efforts, and various other market and operating risks, including those detailed in the Company's filings with the
Company Contact | Investor Relations | |
(765) 497-8381 | (516) 428-8577 | |
btaylor@inotivco.com | bob@lifescieadvisors.com | |
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