NVL’s new NZ clinic

NATIONAL Veterinary Care has snapped up another vet clinic in New Zealand.

The buy takes to 10 the number of clinics the Ormeaubased operator has added to its portfolio from across the ditch.

NVL is paying NZ$1 million for the business which it said is expected to deliver yearly revenue of NZ$1.4 million.

It did not detail where the clinic is located, saying only it is “within an existing NVL cluster in New Zealand”.

The deal is expected to settle by June 30.

It will see the acquisitionhungry company own 55 vet service businesses across Australia and New Zealand.

NVL is looking to take advantage of a huge yet fragmented sector by quickly ramping up the number of vet clinics in its portfolio.

It said expanding its network of clinics through acquisition is a “key growth strategy” for the company.

NVL shares closed 6¢, or 2.33 per cent higher, at $2.63.