CMA vet-sector ownership rules face judicial review threat after vets group says softened disclosure wording lets private equity firms obscure ownership

The Progressive Veterinary Association (PVA) has threatened the Competition and Markets Authority (CMA) with a judicial review after the regulator softened the ownership disclosure wording in its veterinary sector remedies. The CMA had previously investigated the £6.3bn UK veterinary market and found that pet owners pay on average 16.6% more at large corporate groups than at independent practices. More than 60% of UK veterinary practices are owned in whole or in part by six groups: CVS, Pets at Home, Medivet, IVC, VetPartners (all private equity-backed), and Linnaeus. Following a white paper published earlier this summer, the CMA and government announced remedies including a cap on pet medicine prescription charges at £21 and transparency requirements on practice ownership. However, the PVA says the CMA changed the disclosure language from requiring vets to name the "corporate vet group" to instead requiring disclosure of the "network or group", which the PVA argues allows multinationals to use a local brand name or subsidiary name rather than disclosing the ultimate private equity owner. The CMA has defended the change, saying it consulted widely and that its approach will make ownership links clear through brand-name recognition.

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