Vets Now, the award-winning emergency veterinary care provider, is considering a flotation to fund expansion.

The firm, which is poised to open its first veterinary hospital in Glasgow, also revealed plans to open two more hospitals in the coming months and said that it is in talks over the acquisition of other businesses. A flotation would come within the next five years.

The second hospital is to be in Gateshead in the northeast of England, while the location of the third has yet to be confirmed.The Dunfermline-based company, which was founded eight years ago by vet Richard Dixon, and has 32 clinics across the UK, aims to double the number of clinics within the next five years.

Dixon said he had £5m of funding after winning the Scottish round of the Sunday Times Bank of Scotland Corporate Entrepreneur Challenge in 2008. The cash would cover basic expansion of clinics and hospitals, but extra funding might have to be found if other opportunities arise.

“Flotation is something we will always have on the table,” he said. “We are not actively working towards it at the moment, but we recognise it may be an opportunity in the future. The funding is pretty much in place for the next five years, but if a £30m acquisition opportunity came up in a year’s time, then we would need to raise funds.

“I am looking at this as a long-term thing. If flotation was useful, then we would do it. However, we are not growing this business with plans to sell it.”

Dixon said he expected turnover of £19m in the year to March, up from £15.3m this year, while profit is set to rise from £1.2m to £2m.

Times Recommends

• Minister in talks with Saudis to protect creditors
• Premier Inn hits back in £29-a-room row
• Bankers hit back at 'populist' bonus supertax