Biting off more funds

ORMEAU-BASED National Veterinary Care has received a boost to its balance sheet.

The company announced yesterday that lender ANZ had agreed to increase its loan facility by $19 million to $61 million.

In addition its working capital had increased by $750,000 to $3.5 million and a new facility term of three years had been enacted.

Managing director Tomas Steenackers said the company was delighted to receive strong support for its business model.

“The increase in facilities and term extension provides National Veterinary Care with significant capacity to support our forecast growth and FY19 acquisition pipeline,” he said.