TIDMPVG
RNS Number : 0180X
Premier Veterinary Group PLC
16 February 2017
PREMIER VETERINARY GROUP PLC
("PVG" or "the Company")
FURTHER CO-OPERATION AGREEMENT SIGNED IN THE US FOR
PREMIER PET CARE PLAN
London, UK, 16 February 2017 - Premier Veterinary Group plc
(LSE: PVG) announces that its wholly-owned subsidiary, Premier Vet
Alliance (US) Limited ("PVA"), has signed a co-operation agreement
with Midwest Veterinary Supply, Inc ("Midwest"), a major veterinary
distributor based out of Minnesota, US.
The initial 5-year co-operation agreement is to introduce the
Company's preventative healthcare programme for pets, branded
"Premier Pet Care Plan" ("PPCP"), to Midwest's client hospitals,
numbering over 12,000 across 35 States, located primarily in the
Mid West and South East of the US.
Jeff Burkhamer, National Sales Manager, Midwest Veterinary
Supply, Inc commented:
"Midwest is very familiar with preventative healthcare plans,
but PVA is the first to come to us with a model that delivers a
product led programme with a comprehensive support package and
delivering an end-to-end solution. We are a customer focused
company and believe that the Premier Pet Care Plan will deliver
real added value to our hospitals."
Dominic Tonner, Chief Executive Officer of PVG, added:
"We are delighted to have secured such a prestigious contract
with a highly respected industry player, and we look forward to a
rapid and successful roll-out of our Premier Pet Care Plan across
the Midwest client base."
Update on US market
The Midwest co-operation agreement is the third co-operation
agreement entered into since PVG announced its entry to the US
market in May 2016, providing PVG with the opportunity to access a
significant segment of the available US market. The total number of
dogs and cats across the US is estimated at 70 million and 74
million respectively (U.S. Pet Ownership & Demographics
Sourcebook 2012).
In early June 2016, the Company announced that it had signed a
major agreement with Veterinary Products, Inc. ("VPI"), a
significant veterinary distributor co-op, headquartered in Atlanta,
Georgia, US to promote and roll-out the Company's PPCP to VPI's
member hospitals, which at that time numbered over 600 across 15
States, located primarily in the South East of the US.
At the end of June 2016, the Company issued a further
announcement confirming that it had signed another major agreement
in the US for PPCP. That agreement was entered into with Merritt
Veterinary Supplies Inc. ("MVS"), a leading veterinary supplies
distributor founded in 1938, which at that time had 9,000 member
hospitals in the South East of the US. MVS is headquartered in
Columbia, South Carolina.
The continued rapid rate of expansion into the US has given PVG
the confidence to accelerate its investment programme in terms of
people and infrastructure, including further investment in
additional functionality and data capture within PVG's bespoke
software system.
The information contained within this announcement is deemed by
the Company to constitute inside information stipulated under the
Market Abuse Regulation (EU) No. 596/2014. Upon the publication of
this announcement via the Regulatory Information Service, this
inside information is now considered to be in the public
domain.
For further information, please contact:
Premier Veterinary Group plc Tel: +44 (0)117 970 4130
Dominic Tonner, Chief Executive Officer
Will Evans, Chief Financial Officer
Note to Editors:
PVG's services to third party veterinary practices, through its
wholly-owned subsidiary, Premier Vet Alliance Limited ("PVA"),
include the administration and support of a preventative healthcare
programme for pets branded "Premier Pet Care Plan" ("PPCP"); and
the operation of a buying group ("Premier Buying Group") which
offers enhanced discounts to member practices on pharmaceutical and
consumable spending. In the US, PPCP is marketed through the
Company's wholly-owned subsidiary, Premier Vet Alliance (US)
Limited.
PPCP is a structured, preventative healthcare programme for
cats, dogs and rabbits and is available only through veterinary
practices. The programme is seen as a way of providing gold
standard care for pets at an affordable price for the client, by
way of fixed monthly payments.
PPCP uses a clinical approach to prevention, as this is the most
effective method of ensuring illnesses are diagnosed more quickly
and not given a chance to advance. What truly sets PPCP apart is
its unique approach of offering an end-to-end solution and support
to the practice, which has been proven to work extremely well. PVA
works alongside practices to create a tailor-made, cost-effective
service for clients, one that delivers excellent care to their
patients and significantly improves practice performance.
The Premier Buying Group, is now the UK's largest veterinary
buying group without group interests in veterinary practices or
veterinary wholesalers offering its members the best discounts
across the industry on pharmaceutical and consumable spend.
For further details: http://www.premiervetalliance.co.uk/
This announcement includes "forward-looking statements" which
include all statements other than statements of historical facts,
including, without limitation, those regarding the Company's
financial position, business strategy, plans and objectives of
management for future operations, and any statements preceded by,
followed by or that include forward-looking terminology such as the
words "targets", "believes", "estimates", "expects", "aims",
"intends", "will", "can", "may", "anticipates", "would", "should",
"could" or similar expressions or the negative thereof. Such
forward-looking statements involve known and unknown risks,
uncertainties and other important factors beyond the Company's
control that could cause the actual results, performance or
achievements of the Company to be materially different from future
results, performance or achievements expressed or implied by such
forward-looking statements. Such forward-looking statements are
based on numerous assumptions regarding the Company's present and
future business strategies and the environment in which the Company
will operate in the future. These forward-looking statements speak
only as at the date of this announcement. The Company expressly
disclaims any obligation or undertaking to disseminate any updates
or revisions to any forward-looking statements contained in this
announcement to reflect any change in the Company's expectations
with regard thereto or any change in events, conditions or
circumstances on which any such statements are based. As a result
of these factors, readers are cautioned not to rely on any
forward-looking statement.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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