HealthInvestor | CMA Launches Review of Vet Sector
Sep 2023
Originally posted by HealthInvestor on September 7, 2023.
The Competition and Markets Authority (CMA) has begun reviewing UK veterinary services to uncover how well the market is working for pet owners. The CMA is looking to hear from pet owners and vet practitioners on service pricing, prescriptions and medication, vet surgery and emergency and out-of-hours vet services.
Matthew Lee, Managing Director and co-head of Lincoln’s European Healthcare Group, said that the investigation is concerned about the impact that the UK market’s makeup (which is approximately 60% large corporates) has on consumers.
“The announcement suggests they feel consumers do not get sufficient information at the right time to make informed purchasing decisions, stifling competition and implicitly the take away is this has led to elevated price inflation in the past which, now, during a cost-of-living crisis is gaining criticism,” Matthew added.
The review is also likely to push UK corporate owners further and faster into other European markets like Spain, Portugal, Germany and Italy that are less consolidated, Matthew noted.
Summary
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Lincoln International’s Matthew Lee discusses the CMA’s review of the UK veterinary services market with HealthInvestor.
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