Vetdis Holding acquired Medini NV from Animalcare Group plc (AIM:ANCR) for £2.7 million on September 4, 2018. As part of the consideration, cash consideration of £0.33 million will be paid initially and further £1.72 million will be paid shortly in respect of intercompany loan balances due from the Medini to other Animalcare group companies. £0.37 million will be paid to Animalcare on June 30, 2019 in relation to the remaining intercompany balance owed. The balance of approximately £0.23 million is subject to achieving specific revenue targets between July 1, 2019 and June 30, 2020 and payable in July 2020. For the year ended December 31, 2017, Medini generated turnover of £23.9 million, EBITDA of £0.3 million, gross assets of £5.9 million and net assets of £3.8 million excluding intercompany debt due to Ecuphar NV. The proceeds of the disposal will be used initially to improve the Animalcare’s debt position, but also provide further support for product development, both organically and through strategic acquisitions. Freddy Crossley and Emma Earl of Panmure Gordon & Co. plc acted and financial advisors for Animalcare. Koen Selleslags and Wouter Verhelst of DLA Piper UK LLP acted as legal advisor to Animalcare Group plc. Vetdis Holding completed the acquisition of Medini NV from Animalcare Group plc (AIM:ANCR) on September 4, 2018.