TOMI Environmental Solutions expands its partnership with Betatek, transitioning to an official distributor for SteraMist in Canada.
Quiver AI Summary
TOMI Environmental Solutions, Inc. has announced an expansion of its partnership with Canadian company Betatek, transitioning Betatek from an independent manufacturing representative to an official distributor of TOMI's SteraMist products. This decision is driven by the rising demand for SteraMist in Canada, particularly within the life sciences sector and animal laboratories. Betatek has a successful history with TOMI, having onboarded various notable clients since 2017, and will now enhance its offerings following the purchase of TOMI's new SteraMist Integrated System. Both companies expressed enthusiasm for the strengthened collaboration, which aims to leverage Betatek's local market expertise alongside TOMI's advanced decontamination technology to better serve Canadian customers.
Potential Positives
- Expansion of partnership with Betatek transitions them to an official distributor, enhancing market presence in Canada.
- Increased demand for SteraMist in the Canadian market indicates growth potential for TOMI’s products.
- Focus on the Canadian life science market and animal laboratory facilities allows TOMI to target a specific, high-demand sector.
- Betatek's experience and commitment provide TOMI with a local expert to better serve their customer base and improve service delivery.
Potential Negatives
- Becoming reliant on a single distributor (Betatek) for the Canadian market may expose TOMI to significant risks if the partnership does not perform as expected or if Betatek encounters challenges.
- The emphasis on forward-looking statements indicates uncertainties in TOMI's ability to sustain growth and generate sales, which could erode investor confidence.
- This press release does not provide concrete figures or metrics to substantiate the claims of increasing demand in the Canadian market, potentially leaving stakeholders questioning the actual market dynamics.
FAQ
What is the new partnership between TOMI and Betatek?
TOMI has expanded its partnership with Betatek, making them an official SteraMist distributor in Canada.
Why was Betatek promoted to official distributor?
Betatek was promoted to distributor due to increasing demand for SteraMist products in the Canadian market.
What products will Betatek distribute?
Betatek will distribute TOMI's latest product, the SteraMist Integrated System (SIS) Standalone.
How will this partnership benefit the Canadian life science market?
The partnership allows TOMI to provide enhanced support and solutions tailored for animal laboratory facilities in Canada.
What is TOMI's mission in the Canadian market?
TOMI aims to innovate and deliver effective disinfection solutions to meet growing safety and compliance demands in Canada.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$TOMZ Hedge Fund Activity
We have seen 6 institutional investors add shares of $TOMZ stock to their portfolio, and 9 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- SCARBOROUGH ADVISORS, LLC added 79,413 shares (+inf%) to their portfolio in Q3 2024
- SUSQUEHANNA INTERNATIONAL GROUP, LLP removed 63,933 shares (-100.0%) from their portfolio in Q2 2024
- DYNAMIC ADVISOR SOLUTIONS LLC added 30,000 shares (+150.0%) to their portfolio in Q3 2024
- CITADEL ADVISORS LLC removed 17,374 shares (-100.0%) from their portfolio in Q3 2024
- COMMONWEALTH EQUITY SERVICES, LLC added 11,050 shares (+inf%) to their portfolio in Q3 2024
- RENAISSANCE TECHNOLOGIES LLC removed 10,100 shares (-100.0%) from their portfolio in Q3 2024
- MILLENNIUM MANAGEMENT LLC removed 10,083 shares (-100.0%) from their portfolio in Q2 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
FREDERICK, Md., Dec. 17, 2024 (GLOBE NEWSWIRE) -- TOMI Environmental Solutions, Inc.® (“TOMI”) (NASDAQ: TOMZ), a global company specializing in disinfection and decontamination solutions, today announced the expansion of its partnership with Betatek, Inc. ("Betatek"), transitioning the long term Canadian partner from an independent manufacturing representative to an official SteraMist distributor. This strategic move comes in response to the increasing demand for SteraMist in the Canadian market.
Betatek, a well-established Canadian partner, has been a valuable independent manufacturing representative for TOMI since 2017, successfully onboarding clients such as the University of Toronto Mississauga and CCRM, a cell and gene therapy organization. Betatek has become an official distributor after purchasing TOMI's latest product launch, the SteraMist Integrated System (SIS) Standalone. This partnership will enable TOMI to provide enhanced support and services to the Canadian life science market, with a focus on animal laboratory facilities. Betatek’s deep understanding of the local market, combined with TOMI’s advanced decontamination technologies, will deliver comprehensive solutions to address the growing demand from these facilities.
“We are thrilled to strengthen our partnership with Betatek,” said E.J. Shane, COO of TOMI Environmental Solutions. “Betatek’s expertise and dedication to customer satisfaction align seamlessly with TOMI’s mission and global growth strategy. This enhanced collaboration enables us to better serve the Canadian market, where demand for innovative disinfection solutions continues to grow.”
“Becoming an official distributor for TOMI is an exciting evolution of our partnership,” said Steve Goldenberg, President of Betatek, Inc. “With TOMI’s SteraMist technology, we can offer clients innovative and effective decontamination in high demand by the Canadian life science market and animal laboratories. We look forward to working closely with TOMI to provide exceptional service and support to our customers and ensure safety and compliance in their operations.”
About Betatek, Inc.
Betatek, Inc. is a Canadian-owned company that has been a trusted partner to the scientific community for over three decades. We specialize in providing high-quality laboratory equipment and services to pharmaceutical companies, university research institutions, and clinical laboratories. Our commitment to supporting local research and development, combined with our expertise and exceptional customer service, empowers researchers and scientists to achieve groundbreaking discoveries. For more information, please visit
https://www.betatekinc.com/
.
TOMI™ Environmental Solutions, Inc.: Innovating for a safer world®
TOMI™ Environmental Solutions, Inc. (NASDAQ:
TOMZ
) is a global decontamination and infection prevention company, providing environmental solutions for disinfection through the manufacturing, sales and licensing of its premier Binary Ionization Technology® (BIT™) platform. Invented under a defense grant in association with the Defense Advanced Research Projects Agency (DARPA) of the U.S. Department of Defense, BIT™ solution utilizes a low percentage hydrogen peroxide as its only active ingredient and uses patented ionized Hydrogen Peroxide (iHP™) technology in all SteraMist systems to create superior disinfection. TOMI products are designed to service a broad spectrum of use sites, including, but not limited to, hospitals and medical facilities, biosafety labs, pharmaceutical facilities, commercial and office buildings, schools, restaurants, meat and produce processing facilities, and police and fire departments.
For additional information, please visit
http://www.steramist.com
or contact us at
info@tomimist.com
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
This press release contains forward-looking statements that are based on current expectations, estimates, forecasts and projections of future performance based on management’s judgment, beliefs, current trends, and anticipated product performance. These forward-looking statements include, without limitation, statements relating to TOMI’s products to serve education sectors. Forward-looking statements involve risks and uncertainties that may cause actual results to differ materially from those contained in the forward-looking statements. These factors include, but are not limited to, our ability to maintain and manage growth and generate sales, our reliance on a single or a few products for a majority of revenues; the general business and economic conditions; and other risks as described in our SEC filings, including our Annual Report on Form 10-K for the fiscal year ended December 31, 2023 filed by us with the SEC and other periodic reports we filed with the SEC. The information provided in this document is based upon the facts and circumstances known at this time. Other unknown or unpredictable factors or underlying assumptions subsequently proving to be incorrect could cause actual results to differ materially from those in the forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, level of activity, performance, or achievements. You should not place undue reliance on these forward-looking statements. All information provided in this press release is as of today’s date, unless otherwise stated, and we undertake no duty to update such information, except as required under applicable law.
INVESTOR RELATIONS CONTACT:
John Nesbett/Rosalyn Christian
IMS Investor Relations
tomi@imsinvestorrelations.com
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