Description of CVS’ business
CVS Group plc is one of the leading veterinary services providers in the UK, currently (July 2009) operating 61 small animal veterinary practices from 169 individual surgeries, one equine veterinary practice, 4 veterinary diagnostic laboratories and a pet crematorium and cemetery, through its wholly owned subsidiary, CVS(UK)Limited. CVS(UK)Limited was established in August 1999 to acquire and operate veterinary practices which were well established within their local communities and had a reputation for high quality service. The Company strategy recognises that the value of veterinary businesses lies in the quality of their staff and the relationship they enjoy with their existing clients. Professional management expertise and other services are therefore provided centrally to all Group practices, relieving them of their administrative burden and enabling local staff to concentrate on clinical care.
The Directors believe that several factors are currently contributing to a growth in the market for veterinary services in the UK, based on growing and ageing pet populations, advances in veterinary medical science, changes in the demographic profile of the human population and a growth in the pet insurance industry. Building on these underlying growth prospects, and capitalising on other drivers that are encouraging vets to sell their practices to corporate operators, CVS has expanded by acquisition into the market and established a leading position as a national consolidator and operator of veterinary practices and laboratories.
CVS is incorporated in England and currently operates in England, Wales and Scotland.
PLC Exec case study written by Lucy Mowatt and produced by Kiron Chavda