News Release

PetIQ, Inc. Provides Update on Wellness Center Openings

January 13, 2020 at 8:01 AM EST

Celebrated 20 Wellness Center Openings in December
Opened 80 Locations Across 22 States in 2019 at 5 Host Partner Locations
Reaffirms 2019 Guidance
Presentation at the ICR Conference Today at 11am Eastern

EAGLE, Idaho, Jan. 13, 2020 (GLOBE NEWSWIRE) -- PetIQ, Inc. (“PetIQ” or the “Company”) (Nasdaq: PETQ), a leading pet medication and wellness company, provided an update on its 2019 wellness center openings and reaffirmed its 2019 guidance ahead of a conference presentation today.  In December, the Company opened 20 new wellness centers for a total of 80 wellness centers across 22 states and 5 host retail partners in 2019. 

“We are pleased with our 2019 class of wellness center openings, which met our timeline and budget,” commented Susan Sholtis, PetIQ’s President. “Our stringent operating criteria, which was put in place last year, ensures alignment with our retail host partners and leverages our collective knowledge of each location’s customer base from our network of community clinics and surrounding demographic profile.”

Cord Christensen, Chairman & CEO added, “2019 was a transformative year for PetIQ with the buildout of our service platform as well as our product manufacturing capabilities.  We are reaffirming our 2019 guidance and look forward to communicating our 2020 growth objectives for both our operating segments during our fourth quarter earnings release.”

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/

Webcasted Presentation at the ICR Conference Today, January 13, at 11am Eastern

Cord Christensen, Chairman and CEO, and Susan Sholtis, President, will participate in the 2020 ICR Conference in Orlando, FL.

The presentation will be held on Monday, January 13, 2020 at 11:00 a.m. ET and can be accessed live over the Internet hosted at the “Investors” section of the Company's website at www.PetIQ.com

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:
ICR
Jeff Sonnek
646-277-1263
[email protected]
ICR
Cory Ziskind
646-277-1232
[email protected]

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Source: PetIQ, Inc.