VETPARTNERS CHARTS $70 MILLION TURNOVER
Written on the 27 June 2016 by Laura Daquino
VETPARTNERS is picking up more vet practices, the company on track for annual turnover above $70 million.
The group currently holds 42 practices, making it the second largest of its kind in Australia behind Greencross (ASX: GXL).
VetPartners acquired more practices between March and July than Greencross acquired in the 2015/16 financial year.
Quirk says a big point of difference is the succession plan that VetPartners offers its vets.
"The multiples we're offering are much higher," he told Business News Australia in May.
"We provide a planned retirement with a degree of certainty and often at a price higher than that offered by our competition.
"[Our multiples] encourage vets to look more closely and think - well, I wasn't planning to retire, but that's good money and I can exit some of my business now and plan retirement over the next 10 years. They can drop their work hours and not worry as much.
"By Christmas I imagine the main groups will be a little more obvious and the acquisition activity will slow down."