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CVSG

-0.48%
NEUTRAL

CVS Group Responds to CMA Announcement on Veterinary Services

Why we think this is neutral

This announcement from CVS Group plc is a general update in response to the Competition and Markets Authority's (CMA) decision to extend the statutory deadline for its market investigation into the supply of veterinary services for household pets in the UK. The company is engaging constructively with the CMA and welcomes the extension to consider the proposed remedies further. While the continued uncertainty is understandable, the announcement does not contain any specific financial or operational updates that would significantly impact the company's performance.

Key Points

  • CVS Group plc responds to CMA announcement on extending market investigation into veterinary services
  • Company will continue to collaborate closely with the CMA over the extended timetable
  • CVS supports the CMA's focus on transparency and improving communication, but outlined concerns over unduly burdensome remedies

Summary

The veterinary services provider responds to the CMA's decision to extend its market investigation, noting it will continue to collaborate with the regulator.

CVS Group plc has responded to the announcement by the Competition and Markets Authority (CMA) to extend the statutory deadline of the market investigation into the supply of veterinary services for household pets in the UK. The company states it will continue to actively engage with the CMA, providing constructive feedback on transparency measures. CVS welcomes the CMA's recognition of the importance of proportionality of any interventions and the potential unintended consequences for animal welfare, pet owners, vets and veterinary businesses.

Key Dates

7 September 2023
CMA launched market review on veterinary services
GENERAL UPDATE