CVS Group Regulatory News (CVSG)

26 Feb 2008 07:01

CVS Group plc26 February 2008 For Immediate release 26 February 2008 CVS Group plc ("CVS" or the "Group") Acquisition of 50th Practice CVS, one of the UK's leading providers of veterinary services, is pleased toannounce the acquisition of Michael Gourley Veterinary Surgeons in Manchester.This transaction marks the 50th acquisition by CVS, bringing the total number ofsurgeries within the group to 140. The practice acquired was formed in 1954 and employs nine vets across itsprincipal site in Ashton and five branches in the local area. In the year ended 30 April 2007 the practice achieved EBITDA of approximately£150,000 on turnover of £1.533m and had gross assets of £665,000. Commenting on the acquisition, CVS Chief Executive Simon Innes said: "We are delighted to welcome Michael Gourley and his team to CVS. Theirreputation for excellence in clinical care makes them an ideal partner for ourexisting practitioners". Contacts: CVS Group plc 01379 644 288Simon Innes, Chief ExecutivePaul Coxon, Finance Director Buchanan Communications 020 7466 5000Richard OldworthSuzanne Brocks This information is provided by RNS The company news service from the London Stock Exchange