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National Veterinary Care to acquire 3 clinics in Australia

Australia's National Veterinary Care Ltd. said it agreed to acquire two clinics in Queensland and Victoria, with terms for a third being finalized.

The company will pay A$9.6 million for the three acquisitions, about A$6.6 million of which will be provided up front, and about A$3 million to be deferred.

The acquisitions, which remain subject to certain conditions and due diligence, are expected to settle July 31.

National Veterinary Care expects the three clinics to contribute about $6 million in annual revenue.