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EmailIphone Application    Posted: 2018-10-25
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Buyer sought for Independent Vetcare, reports suggest
IVC's sale will see a change of ownership for its 300 practices.

Insiders say offers could reach £1.5 billion

The owner of Independent Vetcare (IVC) is rumoured to be preparing to sell it for £1.5 billion, in what would be the sector’s biggest takeover to date, Sky News has reported.

EQT partners, IVC’s controlling shareholder, has instructed bankers at Jefferies to run an auction of the business and its 300 practices. It is seeking offers in the first week of November.

According to Sky News, insiders have said that offers could value the company at up to £1.5 billion. This is compared to the £700 million paid out by BC Partners, which purchased VetPartners in August.

IVC operates in numerous other countries, including Sweden, where it merged with Evidensia Group in 2017.

Commenting on the reports, David Hillier, CEO of IVC said: “There is some current speculation that IVC is potentially seeking additional funding.

"Given the phenomenal growth the company is experiencing this is not particularly surprising and does not imply any change in ownership or strategy.

"For us this is very much business as usual. There is absolutely no change to the underlying business, to the current management team or to the long-term direction of the company.

"We will continue our strong growth, our investment in people, premises and processes in order to provide our stated aim of ‘exceptional veterinary care’”.

 

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Nominations for 2019 RSPCA Honours Awards now open

News Story 1
 People across the UK are being urged to nominate a standout animal champion for the 2019 RSPCA Honours Awards.

The awards recognise those who have worked tirelessly to improve animal welfare, campaigned on behalf of animals, or shown true bravery. Previous winners include comedian John Bishop, who was awarded Celebrity Animal Champion of the Year, and 11-year-old Lobby Cantwell, who raised more than £1,000 for the charity through mountain climbs and bike rides.

To submit a nomination or find out more about the awards visit the RSPCA website. Nominations will remain open until 4 pm on Friday, March 15.  

Click here for more...
News Shorts
New £1m project to investigate dairy cow lameness

Scotland’s Rural College (SRUC) is leading a new £1 million research project to investigate the causes of lameness in dairy cows.

One in three dairy cows are affected by lameness every day in the UK, costing the industry an estimated £250 milion annually.

The project will take three years to complete and is due to finish by November 2021.

Professor Georgios Banos of SRUC commented: “In addition to pain and discomfort to the animal, lameness is associated with decreased milk production and inflated farm costs.

“Among cows raised in the same environment, some become lame while others do not. Understanding the reasons behind this will help us develop targeted preventive practices contributing to enhanced animal welfare and farm profitability.”