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Listed company adds rural vet clinic to portfolio
An ASX-listed business has acquired Quirindi Veterinary Group in a bid to further strengthen its production animal and rural veterinary services capabilities.
Emma Musgrave
Firms: GRT Lawyers (Apiam Animal Health); Mann Judd (Apiam Animal Health); HLB Chessboard (Apiam Animal Health); QVG in-house legal counsel (Qurindi Veterinary Group)
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Deal: Apiam Animal Health has acquired Quirindi Veterinary Group (QVG).
Value: $11.57 million
Area: M&A
Deal significance: QVG is one of Australia’s largest rural veterinary groups, generating revenue of $12.2 million in the 2015-16 financial year.
As part of the acquisition of QVG, Apiam will acquire proprietary technology to improve clinic efficiencies, data analysis systems for feedlot cattle, and specialised assets for reproduction services.
The acquisition is in alignment with Apiam’s strategy to extend its position as the leading producer of expert veterinary, production, wellbeing and genetics services to the production animal and mixed animal sectors.
“This acquisition strengthens our position in the beef industry and adds capacity to our veterinary resources and the operating systems that are required to shape the veterinary services provided to the production animal industries of the future,” Apiam managing director Chris Richards said.
“QVG is an excellent business that counts some of Australia’s most innovative beef producers as its customers and is a strong strategic fit with our core business.
“All three aspects of QVG will deliver strong synergies; improving our capacity in the beef feedlot sector and expanding our genetics business and presence in rural NSW,” said Mr Richards.
