REG - CVS Group plc - Response to CMA announcement

CVSAnnouncement

10/06/2025 09:01

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250610:nRSJ1784Ma&default-theme=true

RNS Number : 1784M  CVS Group plc  10 June 2025

For immediate release
 
                 10 June 2025

 

CVS Group plc

("CVS" or the "Company" and, together with its subsidiaries, the "Group")

 

Response to CMA announcement

 

 

Following the announcement by the Competition and Markets Authority ("CMA")
this morning, CVS notes their decision to extend the statutory deadline of the
market investigation reference in relation to the supply of veterinary
services for household pets in the UK, so the CMA can fully consider the
responses received from the veterinary industry on proposed remedies.

 

CVS continues to actively engage with the CMA, providing constructive feedback
on transparency measures which we believe will comprehensively address the
concerns the CMA has identified. CVS welcomes the CMA's recognition of the
importance of proportionality of any interventions and the risk that
well-meaning interventions could have unintended consequences for animal
welfare, pet owners, vets and veterinary businesses.  In that respect, we
welcome the CMA's extension to consider their options further.

 

CVS was among those who gave detailed feedback to the CMA on its remedy
package, in which it outlined support for the CMA's focus on transparency and
improving communication, but also outlined many aspects of its initial package
that CVS believed to be unduly cumbersome for vets and even more critically
would not empower consumers to make better choices. CVS also gave the CMA
feedback on remedies that it believed would unduly constrain clinical freedom
of vets, which must remain sacrosanct.

 

We are optimistic that the extension will improve the ultimate remedy package
and ensure it is proportionate but recognise the impact that the extension
will have on our colleagues and other stakeholders, who will be understandably
disappointed by the continued uncertainty. We will continue to support our
teams through this process and would like to thank them for their ongoing
dedication and hard work in the face of the significant challenges brought
about by this process.

 

CVS will continue to collaborate closely with the CMA, as we have done
consistently since the CMA first launched its market review on 7 September
2023, over the extended timetable.

 

 

CVS Group plc
 
  via Camarco

Richard Fairman, CEO

Robin Alfonso, CFO

Paul Higgs, Chief Veterinary Officer

 

Peel Hunt LLP (Nominated Adviser & Joint Broker)
                    +44 (0)20 7418 8900

Christopher Golden / James Steel / Andrew Clark

 

  Berenberg (Joint
Broker)
        +44 (0)20 3207 7800

Toby Flaux / Michael Burke / James Thompson / Milo Bonser

 

Camarco (Financial
PR)

Ginny Pulbrook
                                            +44 (0)7961
315 138

Letaba Rimell

Tilly Butcher

 

About CVS Group plc (www.cvsukltd.co.uk)

CVS Group is an AIM-listed provider of veterinary services with operations in
the UK and Australia.  CVS is focused on providing high-quality clinical
services to its clients and their animals, with outstanding and dedicated
clinical teams and support colleagues at the core of its strategy.

 

The Group now operates c.460 veterinary practices across its two territories,
including specialist referral hospitals and dedicated out-of-hours sites.
Alongside the core Veterinary Practices division, CVS operates Laboratories
(providing diagnostic services to CVS and third-parties) and an online retail
business ("Animed Direct").

 

The Group employs c.9,000 personnel, including c.2,400 veterinary surgeons and
c.3,300 nurses.

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  RSPURVBRVAUNARR