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One of the largest veterinary chains in Europe has set up a holding company here in preparation for entering the Irish market.
CVS (Ireland) Veterinary Services Ltd was set up in September on behalf of CVS Group plc, which already owns half a dozen vet practices in Northern Ireland. In the UK, it owns 300 practices running 430 surgeries.
Employing 5,150 people, it runs an online pharmacy, a medicine-buying group, a crematoria division and own-brand pet insurance.
Quoted on the London stock exchange, the group’s turnover rose by 24.6% to £271m in 2017 and it has acquired 10 new practices in 2018.
International chain
The other international chain looking to acquire practices here, Independent Vetcare (IVC), is owned by Swedish-based investment fund EQT VI. It has over 500 practices, 350 of them in the UK, including in Northern Ireland.
Veterinary Ireland continues to oppose the arrival of multinationals here. It has put five questions to the Veterinary Council of Ireland on its position on who can own practices.
Red tape – vets also tormented
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