Apiam Animal Health Limited entered into an agreement to acquire Fraser Coast Veterinary Services.

Apiam Animal Health Limited (ASX:AHX) entered into an agreement to acquire Fraser Coast Veterinary Services on November 25, 2021. The consideration will be 80% in cash and 20% in Scrip. New shares issued as consideration will be subject to a minimum escrow period of 12-months, with 50% subject to an escrow period of 24-months.

As of Novemeber 30, 2021. Apiam Animal Health Limited issued 1 million shares for the acquisition. In a related transaction, Apiam Animal Health Limited entered into an agreement to acquire North Hill Veterinary Clinic.

The combined consideration for both the transaction is AUD 3.6 million. Key employees will enter into new contracts with Apiam, with similar terms and restraint conditions to Apiam's previous acquisitions. The transaction is expected to close on December 1, 2021.