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Apiam Animal Health completes A$16M acquisition of laboratory services business

Apiam Animal Health Ltd. completed the A$16 million acquisition of Animal Consulting Enterprises Pty. Ltd., a company providing vaccine and laboratory services to animal producers.

The total consideration includes an initial consideration of A$12.4 million and a further A$3.6 million payable in 12 months and subject to performance thresholds.

Animal Consulting provides autogenous vaccines — which are custom-made vaccines only available through the prescribing veterinarian — and diagnostic laboratory services for large pig, cattle, sheep and poultry producers in all the states of Australia. The company generated revenue of A$6.5 million in fiscal 2019.

Victoria-based Apiam previously said the acquisition is consistent with the company's long-term strategic plan and is aligned with the expansion of its product and services offerings.