COVID-19 Pandemic Drives Accelerated Demand for Covetrus Prescription Management and Online Pharmacy Services

March 23, 2020

The company’s platform continues to help veterinarians maintain continuity of care for their pet and horse owner clients during this crisis

PORTLAND, Maine--(BUSINESS WIRE)--Mar. 23, 2020-- Covetrus (NASDAQ: CVET), a global leader in animal-health technology and services, today shared that the company is seeing strong demand in its prescription management and online pharmacy services, adding to the momentum this business had coming out of 2019. The acceleration is linked to increased practice engagement and pet owner demand as the novel coronavirus (COVID-19) spreads across the United States.

Over the last three weeks, the Covetrus network of pharmacies has seen a significant increase in the number of prescriptions for medications and therapeutic diet food to be filled and shipped to pet owners on behalf of their veterinarians, with the number of products shipped month-to-date growing approximately 45% compared to 2019. This service has enabled small animal and equine veterinary practices across the country to focus on delivering exceptional patient care and to continue to safely run their clinics in these uncertain times. Additionally, the company has recently seen a spike in inquiries and enrollments from practices looking to set up their own prescription management and online store and gain this support from Covetrus.

"The Covetrus platform and our network of pharmacies allows us to deliver medications and diets, on behalf of veterinarians, directly to homes and barns of pet and horse owners,” said Georgia Wraight, president, Covetrus Global Technology Solutions. “We are grateful that we can help veterinarians provide their clients the necessary medications to keep pets healthy, while also supporting these small business owners by keeping revenues flowing through their own practice during this time of need.”

Key advantages of the Covetrus prescription management platform include:

  • Seamless prescribing. Veterinarians can create, approve, and renew prescriptions from the exam room, office, or even at home or on the road, with automatic software integration into the patient’s medical record.
  • Practice-branded online pharmacy and home delivery. Veterinary practices can provide their clients a convenient shopping and home delivery experience with a personalized, practice-branded online pharmacy, including AutoShip (subscription) delivery options, Covetrus-sponsored rebates and special offers and free shipping for most products.
  • Client outreach. Veterinarians can keep their practice top-of-mind and drive continuity of care with their clients with communication tools, including: refill reminders, online booking, and more.

Veterinary practices continue to adapt as public health officials at all levels of government have encouraged protective measures and social distancing. These actions have resulted in many veterinary practices needing to adopt new workflows to protect both their staff and clients. Practices are being more proactive in prescribing medications through the web-based Covetrus platform and encouraging their pet owner clients to utilize the home delivery service, when applicable, to stay current on their pet’s medications and therapeutic diets for their pets during these uncertain times.

"As the crisis unfolded, we began getting calls from clients worried about their pet’s health and medications," said Karen Critchley-Capone, RVT, CVPM and associate director at Oradell Animal Hospital in Paramus, New Jersey. “We were really pleased to direct them to our online store. We are now proactively prescribing medications for upcoming needs and our clients are so relieved. We are thankful to have a great partner who makes it easier to run our practice and who keeps veterinarians and our local team and business at the center of everything they do."

Covetrus, this week, also launched a series of webinars featuring practice managers and owners discussing strategies and real-world tactics to help veterinarians respond and deliver continued care in today’s world. More details can be found at rxmanagement.covetrus.com/webinars. In addition, Trupanion (NASDAQ: TRUP) has convened global authorities in animal welfare (including AAWA, WSAVA, MightyVet and Shelter Medicine) to participate in the first, worldwide webinar collaboration to address COVID-19 and pets impacted in the crisis. That webinar, which is being hosted by Covetrus, will take place on Wednesday, March 25 at 2:00 p.m. EDT. For those interested in learning more about this event, visit here.

About Covetrus

Covetrus is a global animal-health technology and services company dedicated to empowering veterinary practice partners to drive improved health and financial outcomes. We’re bringing together products, services, and technology into a single platform that connects our customers to the solutions and insights they need to work best. Our passion for the well-being of animals and those who care for them drives us to advance the world of veterinary medicine. Covetrus is headquartered in Portland, Maine, with more than 5,500 employees, serving over 100,000 customers around the globe. For more information about Covetrus visit https://www.covetrus.com/.

Forward-Looking Statements

This press release contains certain statements that are forward-looking within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and that involve risks and uncertainties, including statements about our plans, objectives, expectations, intentions, including trends and our potential future growth prospects, expected practices on our platform and product development and improvements. Such statements are subject to numerous risks and uncertainties. Factors that could adversely affect our business and prospects are set forth in our public filings with the Securities and Exchange Commission. Our forward-looking statements are based on current beliefs and expectations of our management team and, except as required by law, we undertake no obligations to make any revisions to the forward-looking statements contained in this release or to update them to reflect events or circumstances occurring after the date of this release, whether as a result of new information, future developments or otherwise. Investors are cautioned not to place undue reliance on these forward-looking statements.

Covetrus
Nicholas Jansen
Investor Relations
207-550-8106
nicholas.jansen@covetrus.com

Kiní Schoop
Public Relations
207-550-8018
kini.schoop@covetrus.com 

Source: Covetrus

Covetrus
Nicholas Jansen
Investor Relations
207-550-8106
nicholas.jansen@covetrus.com

Kiní Schoop
Public Relations
207-550-8018
kini.schoop@covetrus.com