10th Jun 2025 09:34
(Alliance News) - The UK Competition & Markets Authority on Tuesday said it has decided to extend its investigation of the market for veterinary services for household pets by six months.
Martin Coleman, who is chairing the inquiry, said the CMA has received over 500 responses to its consultation so far. He said vet services is a "complex market" that "requires careful consideration of animal welfare and public health alongside competition".
Explaining the decision to the extend the probe, Coleman said: "It would be wholly irresponsible to produce remedies without subjecting the possibilities to vigorous debate and discussion by those who may be affected, which is what we will be doing over the coming weeks as part of our extended administrative timetable."
The CMA started reviewing the overall UK vet services market in September 2023 and launched a formal market investigation in March 2024. It said this was in response to a 60% rise in prices between 2016 and 2023 and limited price transparency.
Back in 2022, the CMA cleared the acquisition of Quality Pet Care Ltd by CVS Group PLC only after CVS agreed to divest The Vet business.
CVS on Tuesday said it "continues to actively engage with the CMA, providing constructive feedback on transparency measures which we believe will comprehensively address the concerns the CMA has identified".
The company operates about 460 vet practises in the UK and Australia.
"CVS welcomes the CMA's recognition of the importance of proportionality of any interventions and the risk that well-meaning interventions could have unintended consequences for animal welfare, pet owners, vets and veterinary businesses," it said. "In that respect, we welcome the CMA's extension to consider their options further."
CVS shares were down 2.6% to 1,256.00 pence on Tuesday morning in London. Shares in Pets At Home Group PLC, which operates 440 veterinary practices in the UK, were down 0.9% to 258.00p.
By Tom Waite, Alliance News editor
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