Pets at Home secures £10m backing for vet subsidiary
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A new £10m facility has been secured by part of Cheshire-based Pets at Home group to open 31 veterinary practices across the UK.
The Co-operative Bank has agreed the £10m facility with Companion Care (Services), which is headquartered in Oxfordshire, to open the practices, many of which will be in Pets at Home retail stores.
With an average of seven new jobs created at each veterinary practice, it is anticipated more than over 200 jobs will be created over the next two years.
Jane Balmain, managing director of Companion Care, said: "The success of our joint venture partnership model has been proven by the continued success of our network of surgeries and our continued expansion across the UK.
"Our formula has already made us one of the UK's leading providers of small animal veterinary services and we continue to buck the trend of flat growth in the sector."
Launched in 2001, turnover from the vets practices has grown over the last 12 years from £5m to over £57m with over 1,200 people employed.
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