Washington veterinary practice acquired by London-based group
A North East veterinary practice has been acquired by a London-based group looking to grow its presence in the region.
Washington-based Dragon Veterinary Centre has been purchased by Medivet Group for an undisclosed sum.
Originally founded in London, Medivet Group is a veterinary-owned and led group of more than 350 branches which operate on a partnership basis, and also has 24 24-hour veterinary centres across the UK.
Dr Ben Hanning, director of acquisitions at Medivet Group, commented: “The North East is a priority area for us as we continue to build towards becoming a truly national operator and we’re very pleased to have made such a well-regarded practice our first acquisition in the region.
“The people and personalities are absolutely central to the acquisitions we choose to make, and from the very first time we met them, it was clear that Andrew and Julie shared the same priorities with us.
“We have a number of other acquisition opportunities already in the pipeline and are confident that this is the first step in establishing the Medivet group right across the North East.”
Andrew Henfrey, founder of Dragon Veterinary Centre, explained: “The fact that Medivet is owned and operated by veterinarians was very attractive to us in terms of ensuring our clients would continue to receive the very best standards of care, while its equity partnership model offers a clear route to succession planning for our team when the time comes for us to retire.
“We’re very pleased to be part of the Medivet team and excited by the benefits that it will bring for our team, our clients and the animals that they all care for.
“This is the right time for us to be making this change and the Hay & Kilner team’s support was central in ensuring that everything was completed quickly, smoothly and to all parties’ satisfaction.”
Mark Adams, partner at Hay & Kilner Law Firm, added: “Andrew and Julie have built up a highly-regarded and very successful practice, and we’re extremely pleased to have now helped them reach both their personal and commercial objectives.”
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