Innovotech With President, Director & CEO Craig Milne

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The Market Online speaks with Innovotech President, Director & CEO Craig Milne as 2025-05-13 | Innovotech Inc. Reports Record Revenue for Q1-2025. | TSXV:IOT | Press Release

Transcript

00:00Welcome to The Watchlist, I'm Lindsay Melchick.

00:07InnovaTech Inc. has just reported record revenue for Q1 2025, a 64% increase over the same

00:13quarter last year, driven by growing demand for its solutions and contract research services.

00:19It's a strong signal of the company's accelerating traction in a market that

00:22increasingly values innovation in infection control.

00:26Now joining us to discuss all of these results is Craig Milne, President and CEO.

00:31So welcome Craig, congratulations on this.

00:34Thank you, it's been a really exciting time for us here at InnovaTech.

00:38I think we're new to the audience here, so maybe I can

00:41provide you a little bit of an introduction on who we are.

00:44Super, so InnovaTech is a diversified contract research organization.

00:49We typically help health product companies develop and test their products to understand

00:54if they work and if they're safe. So our clients typically range from medical device companies

00:58to the pharmaceutical industry, where we help them develop new antimicrobial coatings,

01:05or we help them with analytical chemistry to understand their own products.

01:09Well, you know, that is so fascinating just off the bat, and it's so needed in that industry.

01:16Can we actually flip actually quickly over to the Keystone Labs acquisition and the lab expansion?

01:22Maybe you can tell us, you know, will these moves drive future revenue growth for you?

01:28Certainly. So we acquired a small analytical chemistry business here in Edmonton in Q4 of last year.

01:35And so that acquisition is proving to be a great success for us.

01:38It not only adds immediate revenue and cash flow for us, it's really planting the seeds for continued growth.

01:45So Keystone opens up our market opportunities. They add sort of the entire pharmaceutical industry for us.

01:51So everything from R&D drug development through to manufacturing, quality control,

01:57even to distribution through compounding pharmacy environments.

02:00They do sterility testing and that type of thing in that industry. So totally new for Novatec.

02:06One hundred percent. Let's head back over to those Q1 results.

02:10I mean, what key strategies are in place to sustain your record setting momentum through the rest of 2025?

02:18Well, we're really focused on three levers to continue to expand the business.

02:22We're investing more in traditional sales and business development activities for

02:26our current market share. We've been doing R&D to develop new service offerings.

02:32And part of that is, you know, through the acquisition of Keystone, we've expanded what

02:37our definition of our marketplace is. And we're going to continue to grow through M&A activities.

02:44And really the dark horse in the race for us that can be really interesting long term

02:48is our own technology portfolio, which is really centered around Inovacil, which is a really effective

02:54antimicrobial silver compound that we've been working on.

02:57Sounds exciting. And you have lots in the bucket going on.

03:00Thank you again for joining us and do come back and keep that momentum going for sure.

03:05Wonderful. Thank you so much.

03:07Again, that was Craig Milne, President, CEO and Director of Inovatec. Now head over to their website

03:14at Inovatec.ca to learn more about them. I'm Lindsay Malczak. Thank you for watching.

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