A Grand Opening event held at the Ágora Bogotáin the heart of Colombia’s capital city attracted 4,000 enthusiastic attendees who came to experience the excitement and energy of the newly energized Immunotec, led by CEO Mauricio Domenzain.
Attending the event as special guest was Meredith Berkich, President of North America and Europe. The Colombia launch marks Immunotec’s second expansion into Latin America in 2018, following the company’s entry into Guatemala just six months ago. Immunotec plans to continue the momentum with expansion into other Latin American markets planned for 2019.
Mauricio Domenzain stated:
“We’re tremendously excited to bring the Immunotec opportunity to the people of Colombia, their legendary warmth, passion, and enthusiasm was on full display at our Ágora event.
The entire Immunotec team and our field leaders are so proud to open up for business in Colombia; it’s a market I’ve always believed was perfect for Immunotec and our flagship product, Immunocal. Now we are here, and I cannot wait to see the energy that lit up our launch event change lives across the country.”
Mr. Domenzain led the private equity purchase of Immunotec that was completed in June of 2017 (the company had been publicly traded on Canada’s TSX Venture Stock Exchange since
Tag Archive for Immunotec
Hot Business News Today
Immunotec Convention In Guatemala Attracts 1,500 Attendees
by Ted Nuyten • • 0 Comments
Immunotec currently operates in six markets worldwide: Canada, Mexico, United States, Dominican Republic, Ireland and the United Kingdom.
Two other markets in Latin America will open in 2018, with Guatemala this month.
Immunotec has quite a compelling story to tell. Its 20-year history is rooted in groundbreaking scientific research and product innovation, which began 40 years ago in Canada.
But the story isn’t over—not by a longshot, according to new CEO Mauricio Domenzain. A big dose of personality and focus on culture is setting the company up for its next chapter of success.
Immunotec was actually founded as Immunotec Research in 1996. It was born out of the work of medical researcher Dr. Gustavo Bounous.
In 1978, Bounous initiated a novel program in conjunction with colleagues from the McGill University Faculty of Medicine in Montreal, including Dr. Patricia Kongshavn, to search for a dietary protein source that would boost the immune system.
The process took 15 years, but it led to the development of a high-quality, bioactive material given the name Immunocal, which helped to sustain normal glutathione (antioxidant) levels.
By the mid-1990s, the scientists had teamed up with veteran network marketing entrepreneurs to found the company now known to the world as Immunotec.
The company’s two flagship
Hot Business News Today
Immunotec Sales Topped $100 Million In 2017
by Ted Nuyten • • 0 Comments
Immunotec’s 21st year of operation was one of unprecedented growth and success which has been recognized by the direct selling industry by an industry magazine.
The company’s dynamic new leadership team, headed by CEO and experienced direct selling executive, Mauricio Domenzain, and network marketing professional, Meredith Berkich, President of Immunotec USA, were both interviewed for the article.
Also featured are Vice-President of Marketing, Mimi Cohen, and Chief Financial Officer, Patrick Montpetit.
Domenzain’s first focus was establishing a new culture centered around the simple idea of happiness.
“I know it can sound a little cheesy, but I truly believe that when people are happy they perform to the best of their ability.
I’m trying to share a culture of happiness and celebration, but with results driven by action.” The change in leadership has been inspirational for Immunotec’s field, many of whom have been working the business for anywhere from 10 to 20 years.
According to Berkich,
“Mauricio’s arrival was a breath of fresh air. All of a sudden it wasn’t just about the science, he brought a profoundly human element to the company that everybody is excited about”.
Immunotec, which came off a record-breaking year in 2016, rose to even greater heights in 2017 with double-digit growth that
Hot Business News Today
Immunotec Appoints Meredith Berkich As President USA
by Ted Nuyten • • 0 Comments
Immunotec announced today that 25-year network marketing industry professional and two-time member of Direct Selling News’s Most Influential Women in Direct Selling, Meredith Berkich, has joined its executive team to lead the U.S. business as President of Immunotec U.S.
The announcement caps a year of change for the company which, only six months ago, transitioned from publicly traded to privately owned in an acquisition initiative led by Mauricio Domenzain, now Immunotec’s CEO.
Said Mr. Domenzain,
“Meredith is a person with incredible passion for network marketing and deep expertise in all aspects of a fast-growth business environment, combined with a genuine love of people.
We have tasked ourselves with achieving rapid, substantial expansion in our U.S. business, and the addition of Meredith to Immunotec’s executive team gives us the proven leadership, driving force, and personal dynamism we need to make it happen.”
Asked about the move to Immunotec, Ms. Berkich stated,
“When I met Mauricio I was immediately struck by his firm grasp of the complexities of the network marketing industry, his innovative and forward-thinking style, and his clear sense of vision for Immunotec.
I have long-standing respect for the Immunotec brand and science, and I see incredible opportunity to contribute to Mauricio’s vision.
The potential this company
Hot Business News Today
Immunotec To Go Private In Acquisition Deal
by Nicole Dunkley • • 0 Comments
Supplement maker Immunotec Inc. is set to go private in a cash deal that values the company at roughly $25 million.
Immuno Holding S.A. de C.V. has agreed to pay $0.49 a share in Canadian dollars to acquire all common stock of Quebec, Canada-based Immunotec. The price is a 23 percent premium on the stock’s Tuesday closing price on the TSX Venture Exchange.
Immuno Holding is led by Mauricio Domenzain and Nexxus Capital, one of Mexico’s top private equity firms. Domenzain formerly oversaw North American markets for a prominent beauty and fashion brand in the direct sales channel.
“We believe the time is right to take this next step in the evolution of Immunotec,” said Rod Budd, Chairman of Immunotec’s board. “After undertaking a robust strategic review effort, led by Threadstone Advisors LLC, we
Hot Business News Today
Immunotec Annual Revenue Up 28.6% To $109 million
by Ted Nuyten • • 0 Comments
Immunotec Inc. (TSXV: IMM), a direct-to- consumer company and leader in the nutritional industry (the “Company” or “Immunotec”), announced its fourth quarter financial results for Fiscal 2016. All amounts in this press release are in Canadian dollars unless otherwise indicated.
“Annual revenues surpassed our expectations and reached an all-time high of $109 million, reflecting solid performances in all regions by Immunotec’s Consultants and Employees.
The weakness of the Mexican Peso significantly impacted profitability during the fourth quarter. On a currency neutral basis, we estimate that this volatility reduced the Adjusted EBITDA1 by approximately $3.4 million compared to last year”, said Charles Orr, Chief Executive Officer.
QUARTERLY PERFORMANCE HIGHLIGHTS
Network sales amounted to $29.7M, an increase of 30.7% over last year, while sponsoring1 of new customers and consultants increased by 50.9% over last year.
Network sales in
Hot Business News Today
Immunotec Q2 Sales Up 28% To $25 Million
by Ted Nuyten • • 0 Comments
Immunotec Inc. (TSX VENTURE:IMM), a direct-to-consumer company and leader in the nutritional industry (the “Company” or “Immunotec”), today announced its second quarter financial results for Fiscal 2016.
All amounts in this press release are denominated in Canadian dollars unless otherwise indicated.
“We are pleased to report that total revenues for the quarter exceeded $25 Million for the first time in Company history.
This performance is the result of superior teamwork and dedication on the part of our field associates, employees and valued suppliers”, said Charles L. Orr, Chief Executive Officer of Immunotec.
PERFORMANCE HIGHLIGHTS
Network sales for the three- and six-month periods ended April 30, 2016 reached $23.4M and $44.5M compared to $18.2M and $34.5M for the corresponding periods of the previous year, an increase of $5.2M or 28.9% and $10.0M or 29.2%.
Excluding currency
Hot Business News Today
Immunotec Announces Executive Promotions
by Nicole Dunkley • • 0 Comments
Immunotec Inc., a direct- to-consumer company and a leader in the wellness industry (the “Company” or “Immunotec”), announced today three executive promotions.
Ms. Mimi Cohen has been promoted to the position of Vice-President, Marketing, Mr. David Marshall has been promoted to the position of Vice-President, Sales, Canada, the U.S., the UK and the Dominican Republic and Mr. David Pelletier has been promoted to the position of Vice- President, Regulatory Affairs, Quality Control & Product Development.
Mimi Cohen was Director, Marketing and Product Development and has been with the Company since the Fall of 2015. Ms. Cohen has been instrumental in the development and launch of Immunotec’s new Elasense™ Skin Care product line.
Prior to joining Immunotec, Ms. Cohen was Vice-President, Marketing and Visual Presentation at Reitmans Canada/Thyme Maternity. Ms. Cohen has extensive experience
Hot Business News Today
Immunotec 2014 Revenues To $81 Million, Rising 47.5%
by Nicole Dunkley • • 0 Comments
Immunotec, a direct-to-consumer company and a leader in the nutritional industry (the “Company” or “Immunotec”), today announced its year-end consolidated financial results for Fiscal 2014. All amounts in this press release are denominated in Canadian dollars unless otherwise indicated.
“We are pleased to report record full-year revenues and Adjusted EBITDA(1) in Fiscal 2014 fuelled by solid growth in our activities outside of Canada and operational leverage,” said Mr. Charles L. Orr, Chief Executive Officer.
“We are currently addressing some challenges related to our recent implementation of value-added taxes (VAT) in Mexico. More importantly, a growing number of consultants and customers throughout the world are experiencing the tangible benefits of Immunotec’s products and the business opportunities provide by our business model,” concluded Mr. Orr.
PERFORMANCE HIGHLIGHTS
Fiscal 2014 consolidated revenues increased 47.5% over the same period
Hot Business News Today
Immunotec Reports 1st Quarter Results: 11% Increase In Revenue
by Tina Williams • • 0 Comments
Immunotec Inc. (IMM), a direct-to-consumer company and a leader in the nutritional industry (the “Company” or “Immunotec”), today announced its consolidated financial results for the first quarter of Fiscal 2015.
All amounts in this press release are denominated in Canadian dollars unless otherwise indicated.
“We are pleased to report an 11% increase in revenues over the first quarter of the previous year,” said Mr. Charles L. Orr, Chief Executive Officer. “Also, Operating Income, EBITDA and Net Income all increased by 69%, 47% and 12% respectively, over the same period in the prior year.
Our employees and consultants demonstrated exemplary teamwork to work through challenges in the opening months of the fiscal year” concluded Mr. Orr.
Performance Highlights
Revenues for the three-month period ending January 31, 2015 reached $17.9M compared to $16.2M in the same period