Australian Veterinary Owner’s League Pty Ltd trading as VetPartners (VetPartners) and National Veterinary Care Ltd (ASX:NVL) (NVL) have agreed to come together with VetPartners acquiring 100% of the shares in NVL by way of a scheme of arrangement.
VetPartners and NVL are both focused on growing their networks of community veterinary practices while preserving the legacy, brand and culture of each clinic in the group. This alignment of philosophies makes the combination a logical next step in building a best-in-class veterinary practice offering across Australia and New Zealand.
VetPartners and NVL have complementary networks. For instance, VetPartners’ current support offices are in Sydney, Perth and Adelaide, presenting opportunities for the combined group to build a more national support office infrastructure leveraging the NVL support offices in the Gold Coast, Melbourne and Auckland.
John Burns, Chief Executive Offer of VetPartners, said: “National Veterinary Care and Vet Partners have a shared passion for creating a supportive network to enable veterinary professionals to focus on what they love – providing care for animals and their families. Our combined management teams are excited about working together to build on the key strengths of each business to create one stronger community that values learning, individuality and excellence in patient care, and that strengthens the veterinary industry as a whole. We are thrilled to join with the team at National Veterinary Care, and look forward to maintaining the National Veterinary Care culture and legacy as part of this exciting next chapter for our two companies.”
Tomas Steenackers, Managing Director of NVL, said: “The coming together of National Veterinary Care and VetPartners is an exciting milestone for both relatively young, fast growing businesses. They are aligned through a collective commitment to clinical excellence and our clients will continue to enjoy high standards of care and a community feel from their local clinics. Both businesses also have a shared focus on employees, education and wellness and will be able to offer a wide range of exciting new professional development opportunities for our employees. Together, National Veterinary Care and VetPartners will continue to support and improve the broader veterinary industry across Australia and New Zealand which has been a core philosophy of National Veterinary Care since it started in 2015.”
Completion of the transaction is subject to the approval of NVL shareholders and the Federal Court, as well as certain other customary closing conditions.
Settlement is expected April 2020. Until that time, we remain two separate companies, and business will continue as usual.
The combination will result in a combined network of over 240 veterinary practices across Australia, New Zealand and Singapore.