REG - CVS Group plc - Response to CMA announcement

CVSAnnouncement

23/05/2024 07:15

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RNS Number : 6262P  CVS Group plc  23 May 2024

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 (http://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.

 

 

 

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