REG - CVS Group plc - Response to CMA update

CVSAnnouncement

12/03/2024 08:15

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RNS Number : 4985G  CVS Group plc  12 March 2024

12 March 2024

 

CVS Group plc

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

 

Response to CMA update on their review into the veterinary services market

 

 

Following the announcement by the Competition and Markets Authority ("CMA")
this morning, CVS notes the commencement by the CMA of a consultation on a
proposal to make a market investigation reference in relation to veterinary
services for household pets in the UK.

CVS has engaged constructively and proactively with the CMA throughout its
review. As the announcement today cites, CVS along with certain other
corporate groups who together own around 50% of First Opinion Practices
("FOPs") in the UK, has already engaged constructively with the CMA and put
forward a package of possible remedies to address its concerns. CVS continues
to believe this package could be adopted across the market and could address
the CMA's concerns more quickly than an 18-month investigation.

CVS will continue to work proactively with the CMA as the consultation
progresses up until 11 April 2024. We look forward to the CMA announcing a
further update subsequent to that.

 

 

CVS Group
plc
via Camarco

 

Richard Fairman, CEO

Ben Jacklin, Deputy CEO

Robin Alfonso, CFO

 

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

Adrian Trimmings / Michael Burke / Andrew Clark / Lalit Bose

 

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

Toby Flaux / Ben Wright / James Thompson / Milo Bonser

 

Camarco (Financial
PR)

Ginny Pulbrook
                                                 +44
(0)7961 315 138

Geoffrey Pelham-Lane
                                          +44 (0)7733
124 226

 

 

 

 

 

About CVS Group plc (www.cvsukltd.co.uk (http://www.cvsukltd.co.uk) )

 

CVS Group is an AIM-listed provider of veterinary services with operations in
the UK, Australia, the Netherlands and the Republic of Ireland.  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 operates c.500 veterinary practices across its four territories,
including nine specialist referral hospitals and 39 dedicated out-of-hours
sites. Alongside the core Veterinary Practices division, CVS operates
Laboratories (providing diagnostic services to CVS and third-parties),
Crematoria (providing pet cremation and clinical waste disposal for CVS and
third-party practices) and the Group's online retail business ("Animed
Direct").

 

The Group employs c.9,100 personnel, including c.2,400 veterinary surgeons and
c.3,400 nurses.

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