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Medivet secures £20m funding for new practices

Medivet has secured a £20 million funding package from HSBC, which will allow the business to progress its acquisition plan to purchase new practices across the UK.

Medivet has already used part of the funding facility to acquire six practices – four in Wales and two in South London, with the aim to attain many more practices in 2017 across the UK.

Will Taylor, corporate relationship manager for HSBC in Thames Valley, said: “It is great to see that Medivet has gone from strength-to-strength over the past few years, with an ambitious business.

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“HSBC has enjoyed a long-standing and highly effective business relationship with Medivet and this latest deal will allow the business to carry out its aspiring acquisition plan and continue to grow at a rapid pace.”

Dr Arnold Levy, chief executive officer at Medivet, said: “This latest round of funding will allow us to take up a vast amount of opportunities that have become available to us and accelerate the pace of acquisitions of further practices across the country.

“Last year we acquired over 50 new sites and this year we plan to attain even more, which 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.

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