CVS Group plc Response to CMA review into veterinary market (7397L)
RNS Number : 7397L
CVS Group plc
07 September 2023
7 September 2023
CVS Group plc
("CVS" or the "Company" and, together with its subsidiaries, the
Response to CMA review into the veterinary services market
CVS, the UK quoted veterinary group and a leading provider of
integrated veterinary services, notes that the Competition and
Markets Authority ("CMA") has launched a review into the UK
veterinary services market for household pets. We always work
closely with our regulators and we and our colleagues will support
the CMA review.
Our purpose at CVS is to give the best possible care to animals
and we continually invest in our colleagues, practices and clinical
equipment to enhance the care to our clients and their patients.
The Group has always sought to ensure its prices are appropriate
and reflect fair value to our clients. Our pricing structures are
set by clinicians to ensure these align with our purpose.
As the CMA have recognised, there continues to be a significant
shortage of vets in the UK and employment costs represent the most
significant proportion of our cost base. Our pricing reflects this
and other inflationary pressures experienced in recent years.
We have a clear strategy to continue to expand our network and
to improve clinical care through investment in facilities,
equipment, technology and our people.
We will announce our full year results on 21 September 2023.
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
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) firstname.lastname@example.org
+44 (0)7733 124 226
+44 (0)7961 315 138
+44 (0)7752 245 008
About CVS Group plc ( www.cvsukltd.co.uk )
CVS Group is an AIM-quoted fully-integrated provider of
veterinary services in the UK, with practices in Australia, the
Netherlands and the Republic of Ireland. CVS is focused on
providing high quality clinical services to its customers and their
animals, with outstanding and dedicated clinical teams and support
colleagues at the core of its strategy.
The Group has c. 500 veterinary practices across its four
markets, 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), Buying Groups and the Group's online retail business
The Group employs c. 8,700 personnel, including c. 2,250
veterinary surgeons and c. 3,200 nurses.
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