CVS Group plc has responded to the Competition and Markets Authority's (CMA) update on their review into the veterinary services market. The CMA has initiated a consultation on a proposal to make a market investigation reference in relation to veterinary services for household pets in the UK. CVS, along with certain other corporate groups, has engaged constructively with the CMA and put forward a package of possible remedies to address its concerns. The company believes this package could be adopted across the market and could address the CMA's concerns more quickly than an 18-month investigation.
The company has committed to continuing to work proactively with the CMA as the consultation progresses up until 11 April 2024. CVS looks forward to the CMA announcing a further update subsequent to that. The leadership team of CVS Group plc, including Richard Fairman (CEO), Ben Jacklin (Deputy CEO), and Robin Alfonso (CFO), is actively involved in the engagement with the CMA.
CVS Group plc is an AIM-listed provider of veterinary services with operations in the UK, Australia, the Netherlands, and the Republic of Ireland. The company 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. CVS operates approximately 500 veterinary practices across its four territories, including specialist referral hospitals and dedicated out-of-hours sites. Additionally, CVS operates Laboratories, Crematoria, and an online retail business called "Animed Direct."
The company's financial PR is handled by Camarco, and its Nominated Adviser & Broker is Peel Hunt LLP, with Berenberg as the Joint Broker. CVS Group plc continues to engage proactively with the CMA and is committed to addressing the concerns raised in the review of the veterinary services market.