‘Fat cats’ preying on veterinary practices

Chris Haines, ICNN Senedd reporter

Private equity firms have been accused of collaring the market in a corporate “feeding frenzy” that has seen local, independent vets gobbled up by global giants.

Carolyn Thomas told the Senedd that non-vet ownership has led to a “monopolisation” of the sector, with six big firms owning 60% of UK practices – up from 10% a decade ago.

Leading a debate on Wednesday (December 10), the Labour politician warned the “endless pursuit of profit” was driving down wages for staff while pushing up fees for customers.

“The cost-of-living crisis has put significant financial burden on pet owners,” she said.

“Many have been priced out of pet insurance, with premiums based on postcode. If an area has a large corporate presence, premiums are higher, but without insurance, sudden, huge vet bills can be impossible to pay…

“I read about pet owners skipping meals to cover costs, having to hand over their pets to rescue, or – in some cases – very sadly being forced to euthanise their pet.”

The short debate was prompted by a petition submitted by Linda Evelyn Joyce-Jones raising concerns about the corporate takeover of veterinary practices.

In 1999, the Blair UK Government changed the law to allow vet practices to be owned not only by qualified veterinary surgeons.

Ms Thomas raised an ongoing Competition and Markets Authority (CMA) investigation into the veterinary market for household pets which has uncovered major competition concerns.

She told Senedd members: “One of the companies being looked into is IVC Evidensia, the largest provider of vet services in the UK, owning over 1,000 practices. It is owned in part by Nestlé, which also manufactures pet food.

“How can owners be confident of the quality of the food or the nutrition advice from their vet when the two have such a conflict of interest?”

‘Stressful and expensive’

Ms Thomas, who chairs the Senedd’s petitions committee, said bills for pet owners have increased by 60% – “double the rate of inflation and increases in vet salaries”.

She pointed to growing pressure on rescue centres, with the RSPCA reporting a 25% rise in the number of pets abandoned in Wales and England this year.

She said: “Pets are a much-loved part of the family and it can be incredibly worrying for owners and have a significant mental health impact when their animal becomes unwell.

“It’s even more stressful and expensive when this happens outside of normal practice hours, and many of the large companies… do not cover out-of-hours emergency care.”

‘Clearly unsustainable’

Ms Thomas told the Senedd the corporate takeover is having a “severe negative impact” on those working in the sector, “which is plagued by support staff experiencing poverty pay”.

She warned vets feel pressured to upsell to pet owners or book emergency appointments for non-urgent symptoms due to strict deadlines and targets.

“The situation is clearly unsustainable,” she said.

“It’s costing the lives of pets, it’s traumatising and unaffordable for pet owners and has created an unacceptable work environment for vets and support staff.

“France has taken legal steps against the corporate ownership of clinics, and Ireland is considering the same. I believe that the UK needs to take action now, before it’s too late.”

The north Walian warned of a “dire” situation on Anglesey where there are no out-of-hours vet services, “a constant source of concern for local pet owners”.

‘Unmitigated disaster’

Andrew RT Davies, the former Tory group leader, described the situation on Ynys Môn as an “unmitigated disaster” for islanders who view their pets as part of their family.

Responding to the debate, Huw Irranca-Davies, Wales’ deputy first minister, acknowledged the growing trend of corporate consolidation had raised critical questions.

Mr Irranca-Davies, who is responsible for animal welfare policy, said the Welsh Government was awaiting the final outcome of the CMA’s investigation expected in March 2026.

He pointed out that regulation of veterinary surgeons remains non-devolved as he welcomed the UK Government’s intention to consult on “timely” reform of the Veterinary Surgeons Act.

The MP-turned-Senedd member, who was a Defra minister under Gordon Brown, said: “My priority is to ensure that Wales has exemplary standards of animal health and welfare, and a thriving veterinary sector is essential to achieving those goals.”