Strong start to FY23 with Q1 revenue growth of 31.4%
Bendigo, Oct 20, 2022 AEST (ABN Newswire) - Apiam Animal Health Limited (ASX:AHX) has expanded in Western Australia, via the acquisition of Harradine & Associates announced last week.
Harradine and Associates operate 2 clinics - a companion animal and livestock clinic located in Bunbury and a companion animal clinic in Dalyellup - both fast growing regional locations approximately 170km south-west of Perth.
The business currently employs approximately 29 team members, including 9 veterinarians.
The acquisition represents Apiam's first acquisition in the WA market since the Company's IPO in 2015.
"This acquisition is an important expansion for us. We see strong growth potential in regional Western Australia, with opportunities to introduce new services and products into these veterinary markets", said Dr Chris Richards, Apiam's Managing Director.
Changes to veterinary regulation in Western Australia:
New legislation to support modern veterinary service in Western Australia has recently been introduced.
The Veterinary Practice Act 2021 and tranche one of the Veterinary Practice Regulations 2022 commenced operation in June 2022, replacing the Veterinary Surgeons Act 1960 and Veterinary Surgeons Regulations 1979.
The Act was developed with ongoing feedback from the profession and broader community, which signaled the need for a more balanced & modern statute, aligned with interstate approaches to compliance and regulation of veterinary practice.
Among many changes, such as recognising veterinary nursing as a registered profession, the legislation now provides for corporate ownership of veterinary practices.
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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.
Apiam Animal Health Limited