Completion of Romsey Veterinary Surgery Acquisition
ASX:AHX) refers to its announcement of 19 May 2022 and confirms that it has completed the acquisition of the assets of Romsey Veterinary Service, effective 1 June 2022. Romsey Veterinary Surgery is located in the fast-growth Melbourne to Bendigo growth corridor and services the mixed animal (including equine) market. The acquisition forms an important part of Apiam's regional expansion growth strategy.
The acquisition of Romsey Veterinary Surgery will add $3.3 million in revenue to Apiam on a FY22 proforma basis and 16 staff, including 6 veterinarians.
Apiam's Managing Director, Dr Chris Richards said "we look forward to integrating Romsey Veterinary Surgery into our Victorian clinic network and we welcome their staff onboard. The underlying strength of regional veterinary markets in peri-urban locations, as well as the strong track record of this clinic means Romsey Veterinary Surgery is well placed to continue its fast-growth trajectory."
Consideration for the Romsey Veterinary Surgery acquisition has been paid via a combination of cash and the issue of 1,165,320 Apiam shares.
About Apiam Animal Health Limited
Apiam Animal Health Limited (ASX:AHX) is comprised of Australia's leading Production Animal and Mixed Animal veterinary practices. Apiam Animal Health incorporates over 150 highly experienced, industry leading veterinarians with expertise across the pig, dairy, feedlot, sheep, poultry, equine, and companion animal sectors, supported by an experienced administration, nursing, technical services and ancillary team. Apiam Animal Health is fully vertically integrated, including having veterinary wholesale, diagnostics laboratories, custom vaccines, logistics, and other ancillary services.
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