For
immediate
release
23 May 2024
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 make a market investigation reference in relation
to the supply of veterinary services for household pets in the
UK. CVS will continue to proactively support the CMA through
this market investigation, as it has done consistently since the
CMA first launched its market review on 7 September
2023.
CVS has a clear strategy with its
purpose to give the best possible care to animals and its vision to
be the veterinary company people most want to work for. The
Group is proud of the dedication and commitment of its colleagues
in providing great care to its clients and their
animals.
CVS launched a new clinical
governance framework in November 2023 as an industry first in the
UK veterinary sector. This clinical governance framework
places contextualised care at the heart of the Group's approach to
providing clients and their pets with appropriate care. This
focus is neatly reflected in the Group's approach to understanding
client needs under the mantra of "what matters to you, matters to
us".
CVS understands that the CMA market
investigation commences today and will be conducted over the next
18 months and looks forward to further updates from the CMA at the
appropriate time.
CVS
Group
plc
via
Camarco
Richard Fairman, CEO
Ben Jacklin, Deputy CEO
Robin Alfonso, CFO
Peel Hunt LLP (Nominated Adviser & Joint
Broker)
+44 (0)20 7418
8900
Christopher Golden / James Steel /
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)
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 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), Crematoria
(providing pet cremation and clinical waste disposal for CVS and
third-party practices) and an online retail business ("Animed
Direct").
The Group employs c.9,000 personnel,
including c.2,400 veterinary surgeons and c.3,400
nurses.