WATFORD VETERINARY GROUP ACQUIRES NEW SITES WITH HSBC FUNDING
7 years ago 
1908 views
***Watford-based Medivet acquires new sites***
Medivet, a network of integrated veterinary practices, has secured a £10 million funding package from HSBC, which will allow the business to acquire new practices across the UK
Medivet is the fourth largest veterinary group in the UK and has banked with HSBC since its foundation in 1987. The partnership has seen Medivet grow into one of Watford’s major business successes, with 149 veterinary practices across the country. This latest deal will allow Medivet to purchase further acquisitions, with a £10 million revolving credit facility.
Nick Hicks, HSBC’s Corporate Area Director in Thames Valley, said: “HSBC has enjoyed a highly effective and longstanding business relationship with Medivet, which went from the purchase of a small veterinary practice in Hendon, North London in 1987, to the acquisition of over 140 practices across the UK today. This latest financing package supports the continuing expansion strategy of this successful and acquisitive business.”
Dr Arnold Levy, Chief Executive Officer at Medivet, said: “This is the second wave of our acquisition strategy which will see us, as a privately owned company, expand our offering of veterinary practices across the country. Following the success of last year’s acquisitions, which were also funded by HSBC, we have continued our expansion across the UK a lot quicker than anticipated. This is significant progress for our business and testament to our strong financial backing.”
Medivet branches are accredited under the RCVS Practice Standards Scheme and regulated by the Royal College of Veterinary Surgeons.
More from HSBC
