10 March 2022 - Nordhealth AS, the cloud-based practice management software
provider for both the animal and human health sector, today announced it will
acquire Vetera, a leading veterinary practice management software provider in
the DACH region.
Founded in 1989 and headquartered in Eltville am Rhein, Germany, Vetera has
become a market-leading software and service provider for veterinarians with its
comprehensive and fully integrated portfolio of practice management solutions.
Vetera and its team of 30 employees serve more than 2,000 veterinary practices,
clinics, and partners throughout Germany, Austria, and Switzerland.
Since being acquired by NGC Nachfolgekapital in June of 2019, Vetera has
experienced tremendous growth in both new customers and ARR. Recent customers
include some of the largest corporate groups in the region, AniCura and IVC
Evidensia, solidifying Vetera as the preferred practice management solution for
leading veterinary healthcare institutions. This also includes 6 out of 8
veterinary university clinics in the DACH region, most recently VetMedUni
Vienna.
"For us, it was an easy decision to have Vetera join Nordhealth. They have a lot
to offer - a sophisticated practice management software, loyal customers, an
open approach to third-party integration, and a team that brings a wealth of
industry expertise," said Charles Macbain, CEO of Nordhealth. "By continuing to
bring together best-in-class products and organizations across geographic
regions, we're steadfast in our strategy to strengthen our knowledge of the
challenges facing animal health professionals globally and investing both in the
solutions and skilled professionals to help solve those challenges in innovative
ways."
"Vetera has a long history as a trusted service and software provider for
veterinarians. Institutions like the University of Veterinary Medicine Freie
Universität Berlin have been with the company for more than 25 years," commented
Vetera's CEO Alexander Felber. "In Nordhealth, we've found a partner that aligns
behind the same customer-centric, service-driven philosophies. Additionally,
with Nordhealth's SaaS-based Provet Cloud and technical capabilities, Vetera
will have a competitive edge as the veterinarian industry accelerates digital
and cloud-based solutions adoption. Our mission will remain the same as in the
previous 30 years: to deliver excellent experiences, value, and services to
animal health professionals - connecting partners, pets, and pet parents."
With Vetera, Nordhealth will gain a leading position in the German-speaking
Practice Management Software market. As a part of Nordhealth, Vetera will be
well-positioned to extend its mission of improving the work life of veterinary
professionals. Vetera will remain operating independently under the Vetera brand
and will continue to be led by CEO Alexander Felber with the support of his
management team.
"We are very pleased that with Nordhealth, we found the right partner for Vetera
to continue the tremendous growth we have achieved since 2019. We are convinced
that the international perspective of Nordhealth will accelerate growth even
further. Thanks to our CEO Alexander Felber, we doubled the team and
professionalized the operations over the past three years, positioning the
company to continue our growth trajectory. We are glad to accompany the further
development of Vetera as a shareholder in Nordhealth AS," adds Alexander
Preußner, Managing Partner, NGC Nachfolgekapital GmbH.
Vetera's revenue, recurring revenue and EBITDA were approximately EUR 2.702
million, EUR 1.482 million and EUR 0.53 million in 2021. The acquisition values
Vetera at an enterprise value of EUR 8.36 million. In addition, Nordhealth will
acquire a 19.26% stake in PetLeo for EUR 0.64M. The transaction will be settled
through a mix of cash and shares. Consideration shares will be valued at a price
of NOK 28.38 per share, corresponding to the 30-day volume weighted average
price ("VWAP") at 10 March 2022.
The completion of the acquisition is subject to customary closing conditions and
is expected to close during Q2 2022.
For further information, please contact:
Charles Macbein, CEO
charles.macbain@nordhealth.com
About NGC Nachfolgekapital GmbH
NGC Nachfolgekapital GmbH is a specialized investment holding for successful SME
companies in the DACH region that offers entrepreneurs an external succession
solution that secures a responsible handover to the next generation, that values
all stakeholder interests. Nachfolgekapital invests especially in Software,
Education, and B2B Services Businesses and fosters future growth and provides
job security for its portfolio companies.
For more details visit the company's website at nachfolge-kapital.com.
About Nordhealth
Nordhealth is a publicly listed, fast-growing cloud-based healthcare SaaS
company on a mission to redefine digital healthcare. We build software that
empower veterinary and therapy professionals to provide the best possible care
experiences to their patients. Our products serve more than 30,000 veterinary
and therapy professionals across 7,000 clinics and hospitals located in over 25
countries.
Headquartered in Helsinki, Finland, Nordhealth has a solid footprint in the
Nordic region and a growing presence internationally, with more than 300
employees globally. For more details visit the company's website at
(https://nordhealth.com/)nordhealth.com.