National Veterinary Care Ltd (ASX: NVL) signed a binding agreement to acquire Three veterinary clinics in Australia on February 12, 2020. In a related transaction, National Veterinary Care Ltd entered into a put and call option agreement in relation to the minority interest in the Fitzroy clinic, under which it granted the option to acquire that minority interest if it exercises its option at any time up to March 31, 2020. The total consideration paid for three veterinary clinics and minority interest in the Fitzroy clinic is AUD 11.26 million with total upfront payments of AUD 9.66 million and deferred consideration components (partially subject to earnout conditions) of AUD 1.60 million. The acquisition is partially debt funded. The transaction is conditional on due diligence, board approval and lease arrangements, with settlements expected to take place by mid March 2020. As of February 21, 2020, National Veterinary Care Ltd completed the acquisition of two veterinary clinics in Australia. Brett Heading of Jones Day acted as a legal advisor to National Veterinary Care Ltd. National Veterinary Care Ltd (ASX: NVL) completed the acquisition of Three veterinary clinics in Australia on March 4, 2020.