- Apiam Animal Health (AHX) is set to acquire the business assets of Golden Plains Animal Hospital and Smythesdale Animal Hospital for $2.1 million
- Both are high-performance veterinary clinics in Bannockburn and Smythesdale, near Ballarat
- The clinics provide services across a range of companion and livestock animals, and are expected to generate revenue of $2.85 million in FY21
- Settlement of Golden Plains occurred on August 3 while settlement of Smythesdale is expected by the end of the month
- Apiam was up 1.62 per cent on the market with shares trading at 94 cents at 1:07 pm AEST
Apiam Animal Health (AHX) is set to acquire the business assets of Golden Plains Animal Hospital and Smythesdale Animal Hospital for $2.1 million.
Both are high-performance veterinary clinics situated in Bannockburn and Smythesdale, near Ballarat.
These clinics provide veterinary services across a range of companion and livestock animals and are expected to generate revenue of $2.85 million in FY21.
Managing Director Chris Richards said the acquisitions represented an important milestone in expanding AHX’s market presence across the Greater Geelong and Ballarat area.
“These locations are currently among the fastest growing regions in Victoria,” Dr Richards said. “We see significant opportunity to capture market share and consolidate our existing operations, allowing us to achieve efficiencies and resourcing benefits.
“Demand for veterinary care throughout the area continues to accelerate rapidly and we see it as a significant market opportunity for Apiam in FY22.”
Settlement of the Golden Plains asset occurred on August 3 while settlement of Smythesdale is expected by the end of the month.
Apiam was up 1.62 per cent on the market with shares trading at 94 cents at 1:07 pm AEST.