Chief Executive Network
2005 Innovation Award Winners

Best Business Model Innovation – Small Company Division
Steve Schram, AgriLabs

AgriLabs, is the largest distribution, marketing, and sales network for animal health products in the US.

CEN recognizes AgriLabs innovative sustaining business model which enabled AgriLabs to enter new segments of the animal health market, broaden its portfolio, and strengthen its equity base. AgriLabs is a distributor-shareholder owned company with 47% of the total animal health products sold in the United States.

Upon instituting its innovative business model, AgriLabs successfully entered a new distribution channel by selling shares to veterinary distributors. These new distributor shareholders increased sales by 100% and increased the growth margin by 165% over the period since the business model was initiated.

Additionally, this new channel of trade has allowed AgriLabs to secure new product lines and develop animal health products directed at the veterinarian channel customer base.

These new product lines have increased the company’s profitability each year and enabled AgriLabs to brand itself in a new trade channel.