Pets at Home has welcomed the CMA opening its vet market investigation and said it would “open up a conversation about much needed change and reform within the veterinary profession”.
Back in March the watchdog warned it would launch a formal investigation as it revealed pet owners could be over paying for medicine or prescriptions due to failures in the sector.
As the probe opens, Pets at Home’s spokesperson said: “We will continue to fully cooperate with the CMA to ensure our unique and pro-competitive business model of locally-owned vet practices is fully understood.
“Whilst our brand is national, our veterinary practices are led by individual entrepreneurial vets who have clinical and operational freedom and work tirelessly to always put pets needs first.”
We’ve highlighted a number of potential concerns in the #vets market, following our initial review into the sector.
That’s why we’re proposing to launch a formal market investigation.
Read more: https://t.co/Q0d8Mw9K5G pic.twitter.com/hfTsttUl13
— Competition & Markets Authority (@CMAgovUK) March 12, 2024
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Pets at Home is among just six companies which own 1,500 of the UK’s 5,000 veterinary practices.
Approximately 45,000 members of the public responded to the CMA’s call for input, alongside 11,000 workers from the industry, back when the watchdog first revealed its plans earlier this year.
Among the issues, the CMA found consumers may not be given basic information like price lists and prescription costs, and are not always informed of the cost of treatment before agreeing to it.
It also identified concerns about weak competition in some areas, due to concentrated local markets and incentives for large corporate groups to act in ways which may reduce choice for consumers.
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