8 Mar 2023
The company says the strategy for its UK operations has not changed, despite its move to sell off eight businesses that have been the subject of a competition investigation.
Allister Webb
Job TitleA major veterinary company has insisted it will not change course despite moving to sell off eight of its most recent acquisitions amid competition concerns.
IVC Evidensia maintains its plan to sell is best for the businesses involved and their staff, following the intervention by the Competition and Markets Authority (CMA).
But although the case has raised broader questions about the CMA’s attitude towards the veterinary sector, IVC officials are showing no signs of adopting a fresh approach.
A company spokesperson told Vet Times: “Our UK strategy hasn’t changed.
“The UK remains an important market for IVC Evidensia and we will continue to invest in new and existing premises, facilities and our people, supporting our clinics in continuing to deliver outstanding care to animals and outstanding service to owners.”
Last month, the CMA highlighted several grounds under which it argued the transactions, completed during 2021 and 2022, could cause a serious loss of competition, and gave IVC five working days to provide a response ahead of a potential second phase investigation.
The businesses affected by the inquiry are:
In a further update issued on 3 March, the CMA said it had “reasonable grounds” for considering the divestment plan could be an acceptable solution.
But, while IVC has made clear it does not accept the CMA’s view, and insisted it was committed to “effective competition” in the sector, it wouldn’t be drawn on whether it was felt that the authority’s concerns could have been addressed in another way.
Its spokesperson said: “While we do not agree with the CMA’s decision, we believe that what is best for the clinics and employees involved is to move as quickly as possible to resolve their ownership, and give them certainty about their future.”
No timetables have been set out for sale processes to be completed; although, IVC has said it will continue to “appropriately support” the affected businesses while new owners are being sought.
