Gold Coast vet company National Veterinary Care acquires 100th business as it expands presence in $3 billion sector

National Veterinary Care has expanded its procurement arm, marking a key milestone in the process.

National Veterinary Care says it now makes up almost a quarter of the veterinary sector through its clinics and network of businesses that use its managed services arm.

ORMEAU-based National Veterinary Care has expanded its procurement arm, marking a key milestone by acquiring its 100th business in the process.

The company said this morning the unnamed business, which has operated in the Australian veterinary industry for the past five years, will enable it to service a larger share of the $3 billion-plus sector.

It will work alongside United Vets Group, a buying group NVL acquired in 2016, which enables veterinarians to obtain greater control over what they pay for supplies.

NVL will pay $5 million for the business, including $500,000 paid at a later date if the business reaches financial performance thresholds.

National Veterinary Care owns and operates veterinary clinics in Australia and New Zealand. Managing Director Tomas Steenackers with Chevy, a one-year-old male, at their Yatala clinic. Picture: Glenn Hampson

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Settlement is due in September and dependent on due diligence, board approval and lease assignment.

NVL said the business is expected to deliver annual revenue of $2.4 million and pretax earnings of about $900,000.

Managing director Tomas Steenackers said the acquisition will provide a boost to its managed services arm.

“This new acquisition will further expand our ability to support and help develop independent veterinary clinics across Australia and New Zealand,” he said.

Ormeau-based National Veterinary Care managing director Tomas Steenackers. Picture: John Gass

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“This business aligns with our growth strategy and we will leverage the resources and processes of United Vets Group business for the operation of this acquisition.”

Mr Steenackers said the purchase represents a milestone for the company, which now makes up almost a quarter of the market through its clinics and managed services members.

“I am also proud to announce that this acquisition marks the 100th veterinary services business that NVL has acquired since its inception in 2015,” he said.

“This is an extremely rewarding milestone to reach for our board, management team and all staff of NVL.”