Sydney-based veterinary pharmaceutical company AVet Health has tapped MST Financial to round up $10 million to buy a basket of products from global animal healthcare giant Zoetis.
Street Talk Fairfax Media
Zoetis is offloading its Australian intermammary portfolio to AVet after the Australian Competition and Consumer Commission (ACCC) mandated divestment to approve the NYSE-listed giant’s acquisition of local vet meds player Jurox.
It included Ampiclox LC and DC, Juraclox LA, Maxalac LC and DC and U-Seal – all of which were owned by Jurox.
AVet’s acquiring the medicines as it sets its eye on initial public offering in 2023.
The business focuses on generic branded vet medications. It currently offers 35 stock keeping units and wants to expand to 75, via 21 approved products that it will launch in the next 12 months and the 6 products its buying off Zoetis.
It raised a $5 million pre-IPO round in August 2021 at a $10 million pre-money valuation via Kidder Williams.
