Apiam Animal Health Limited (ASX:AHX) entered into an agreement to acquire assets of Victorian Equine Group and Romsey Veterinary Surgery for AUD 13.75 million on May 19, 2022. The Acquisition will be funded via AUD 9.8 million of cash consideration and the issue of AUD 4.0 million of Apiam shares. There is an additional earn-out payable to the vendors of VEG of up to AUD 1.2 million, based on FY22 performance. Settlement of Romsey Veterinary Surgery is expected to occur on June 1, 2022 and settlement of VEG is expected to occur on July 1, 2022. Apiam has secured approval from its lender, National Australia Bank Ltd (NAB) to increase its acquisition finance facility by AUD 20 million.

Apiam Animal Health Limited (ASX:AHX) completed the acquisition of Assets of Victorian Equine Group and Romsey Veterinary Surgery on July 1, 2022.