| Decision | Consent granted Section 13(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 26 May 2021 |
| Pathway(s) | Significant business assets only |
| Investment | Acquisition of all the business and assets of the ezyVet Limited group of companies |
| Consideration | $216,200,000 (approximate) |
| Applicant | IDEXX Laboratories, Inc (United States of America) |
| Vendor | ezyVet Holdings Limited; ezyVet Limited; ezyVet Australia Limited; ezyVet Global Limited; ezyVet UK Limited; ezyVet USA Limited; Vet Concepts Limited; Vet Radar Holdings Limited; VRIP Limited; VET Radar Limited (New Zealand 100%) |
| Background | The Applicant is a US public company, offering diagnostic and software products and services to the global companion animal health industry, primarily to veterinarians. The Applicant is acquiring all of the business and assets of the Vendors. The Vendors are in the business of developing, selling, and servicing cloud software to the veterinary clinics and veterinarians. The Applicant intends on running the business in the same manner after acquiring it, including offering employment to the ezyVet Limited’s current New Zealand employees with its subsidiary, IDEXX Laboratories II (NZ) ULC. The Applicant has satisfied the OIO that the individuals who will control the investment have the relevant business experience and acumen and are of good character. The Applicant has also demonstrated financial commitment to the investment. |
| More information | Asha Stewart Quigg Partners PO Box 3035 WELLINGTON 6140 |