CMA identifies multiple concerns in vet market
As a result the CMA believes that the regulatory framework is outdated and may no longer be fit for purpose
The Competition and Markets Authority (CMA) has provisionally decided it should launch a formal market investigation into the veterinary market after discovering multiple concerns.
The CMA believes consumers may not be given enough information to enable them to choose the best veterinary practice or the right treatment for their needs.
Furthermore, it believes that concentrated local markets, in part driven by sector consolidation, may be leading to weak competition in some areas.
Lately it stated that large corporate groups may have incentives to act in ways which reduce choice and weaken competition.
As a result the CMA believes that the regulatory framework is outdated and may no longer be fit for purpose.
Pets at Home responded saying that the findings released do not fully reflect the detailed information it shared with them about its business model and how it operates.
A spokesperson for the company stated: “We are incredibly disappointed that the CMA’s findings today do not fully reflect our unique business model of locally-owned vet practices. Whilst our brand is national, our veterinary practices are led by individual entrepreneurial vets who have clinical and operational freedom.
“They choose all pricing, products and services to ensure the best care for clients and their much-loved pets in their local area, which promotes competition in the market and helps to keep prices low.”
The company added: “We have been working closely with the CMA on their areas of concern and will continue to do so as their inquiry progresses to ensure the distinctiveness of our model is fully recognised.”
