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Nextmune acquires Spectrum and creates specialty companion animal health company, Spectrum Veterinary LLC

Saturday, July 8, 2017, 11:00 Hrs  [IST]

Nextmune group, headquartered in Stockholm, Sweden, 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 US 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 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.


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