Bendigo,
While the global market has undergone a correction due to rising interest rates and inflation, Apiam's animal health services are likely to see consistent demand from the production animal industry, pigs, beef feedlot and dairy. Additionally, the companion and mixed animal business is expected to continue growing with animal healthcare classified as a consumer staple where Apiam's vet clinics ensure animal owners maintain adequate healthcare for their pets.
Having witnessed major growth throughout the COVID-19 pandemic which resulted in a 15% increase in pet ownership, Apiam shareholders are backing their plans to double their revenue to
"Our recent capital raise was well supported by our shareholders, who understand that we are accelerating our growth strategy through organic initiatives across the current clinic network and high quality future acquisitions," said Apiam Managing Director, Dr
As part of the raise,
"We have continued to deliver on our strategy and remain on track with recent acquisitions and a strong pipeline in place," he said.
In the past six months alone, Apiam has secured 14 registered vets from
One of the more popular services include Apiam's Best Mates program where pet owners can pay an annual membership fee for unlimited free consultations. Since launching in 2019, there are now more than 6,800 members in the program paying
Other centralised services rolled out by Apiam in its newly acquired clinics include an after hours tele-triage to improve the work-life balance of its vets, and supply chain integration where Apiam manufactures vaccines and procures general animal health products.
While labour shortages across the veterinary industry were further impacted during the pandemic due to international travel restrictions, Apiam's clinic network has been able to mitigate industry challenges by deploying its vet and support teams throughout a region. In some cases, these specialists have years of technical expertise that also attract referrals from clinics outside the Apiam network.
Having secured the
Included in that was
To put their lofty goals into perspective, Apiam reported
Expanding Apiam's vet clinic with such aggression follows a similar path undertaken by previously ASX-listed vet operators Greencross and
About
Contact:
Dr
Managing Director
E: chris@apiam.com.au
Investor Relations
E: catherine.ross@apiam.com.au
T: 0421 997 481
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