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Medivet Expands To 123 Practices With HSBC Support
9 years ago 
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Medivet has become the fourth largest veterinary group in the UK with the acquisition of 12 new practices, including AVC Services in Liverpool, thanks to a new financing agreement with HSBC.
Medivet has banked with HSBC since its foundation in 1986 – a partnership which has seen Medivet grow into one of Watford’s major business successes with 123 practices across the country.
The Group’s strong acquisitive strategy has been made possible by a £25 million revolving credit facility from HSBC. The facility has been specifically tailored to meet the needs of the rapidly-growing business and the flexible nature of the revolving credit facility allows it to draw down variable levels of funds to purchase new practices and meet its monthly cash flow needs.
Rhydian Davies, HSBC Regional Head of Corporate Banking South & South East England, said: “HSBC has enjoyed a highly effective and longstanding association with Medivet, who has grown into one of the UK’s largest veterinary groups. We’re pleased to have offered Medivet new financing that will continue its exceptional growth and allow the group to utilise its successful acquisitive strategy.”
Arnold Levy, Managing Partner at Medivet, said: “As a business, we’re different to other veterinary consolidators as we’re privately owned by veterinary surgeons. This helps us to provide a more robust level of care to our patients – tailored to their needs and consolidated across all of our businesses. As a privately owned company, HSBC’s support has been intrinsic to our achievements and has allowed us to buy practices as and when the right opportunity arises.”
Medivet branches are accredited under the RCVS Practice Standards Scheme and regulated by the Royal College of Veterinary Surgeons.
2 weeks ago 