CMA to consider Medivet undertakings on 11 practice acquisitions

The Competition and Markets Authority (CMA) is considering undertakings to address its concerns about 12 formerly independent Medivet veterinary businesses.

In proposals submitted to the CMA, Medivet and CVC Capital Partners have jointly offered undertakings to reconstitute and divest the assets and business of the practice known as Caddy Veterinary Surgery/Practice, and the divestment of 10 other businesses.

Last month, the CMA released initial findings of its competition investigations into 17 separate deals completed by Medivet between September 2021 and September 2022.

Although the announcement claimed the regulator had no competition issues regarding three of the deals, and was halting investigations on two others, it raised concerns that 12 other acquisitions “could lead to worse quality, a more limited range of services or higher prices for pet owners in affected areas”.

Those include locales in County Antrim, Greater London, Hertfordshire, Leicestershire, West Sussex and North Lincolnshire.

In line with the CMA’s stipulations, Medivet and CVC had to come back with suggested undertakings.

Divestments

Along with the aforementioned reconstituting and divesting Caddy Veterinary Surgery/Practice, the undertakings cover divesting of:

• All Creatures Clinic
• The assets and business of the veterinary practice under the name Iffley Vets
• The Oxford Cat Clinic
• The Vet Station
• Barton Companion Animal Services
• I T Kalogera Holdings (including its subsidiary I T Kalogera)
• Ferring Street Vets
• The Hackney Vet
• E Street (trading as Elizabeth Street Veterinary Clinic)
• The assets and businesses of the veterinary practices under the name The Vet on Richmond Hill and The Vet in St Margaret’s

Not referred

Fitzalan House Veterinary Practice, on the original list of 12 businesses, is not referred to in the current announcement on the CMA website.

In a statement, released after making its undertakings to the CMA, Medivet said: “While we do not agree with the decision and we remain very disappointed with the outcome of the review, we will now, in the interest of the patients, clients and people in the clinics, focus on delivering the remedies put forward to the CMA.”