Gyll Mauchline, founder of Three Counties Dog Rescue in Bourne, discusses independent or corporate veterinary ownerships

I have mentioned before about the gradual transfer of independent veterinary practices into corporate ownership. A recent article in the Sunday Times put the situation into stark relief, writes Gyll Mauchline, founder of Three Counties Dog Rescue in Bourne. Since 1999, non vets have been allowed to own veterinary practices in the UK, triggering a buy up by private equity and corporations.

According to the Royal College of Veterinary Surgeons the majority of veterinary practices in the UK are now owned by six companies, three of which are private equity owned.

One example is Medivet, based in Watford and part owned by Inflexion Private Equity. It has more than 300 practices and wants to reach 800 practices within a few years. Its company accounts refer to veterinary practices as “cash generating units”. Another is “VetPartners” which owns more than 400 practices and was acquired by private equity firm BC Partners. It aims to increase its 2020 profits by over 40 per cent in 2021. Of the UK’s 5,585 vet practices 993 belong to IVC Evidensia which is owned by private equity group EQT. Earlier this year Nestle, the firm behind pet food brands Purina, Felix and Bakers increased its stake in IVC.

Vets that are in corporate ownership are often set turnover targets which can encourage price rises. There is a counter argument that through their increased buying power they can get their supplies cheaper than a sole private practice but there needs to be evidence this is passed onto the pet owner rather than used to increase profits.

As with the NHS, medical and veterinary treatment advances increase costs by themselves. Pets can now be kept alive and well through new treatments where in past years there would have been no alternative to euthanasia. A protection against the increased costs of pet ownership is by taking out appropriate insurance and this is recommended. But think carefully about whether your vet is an independent set up and not part of a corporate “cash-generating
unit”.