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Buyer sought for Independent Vetcare, reports suggest
IVC's sale will see a change of ownership for its 300 practices.

Insiders say offers could reach £1.5 billion

The owner of Independent Vetcare (IVC) is rumoured to be preparing to sell it for £1.5 billion, in what would be the sector’s biggest takeover to date, Sky News has reported.

EQT partners, IVC’s controlling shareholder, has instructed bankers at Jefferies to run an auction of the business and its 300 practices. It is seeking offers in the first week of November.

According to Sky News, insiders have said that offers could value the company at up to £1.5 billion. This is compared to the £700 million paid out by BC Partners, which purchased VetPartners in August.

IVC operates in numerous other countries, including Sweden, where it merged with Evidensia Group in 2017.

Commenting on the reports, David Hillier, CEO of IVC said: “There is some current speculation that IVC is potentially seeking additional funding.

"Given the phenomenal growth the company is experiencing this is not particularly surprising and does not imply any change in ownership or strategy.

"For us this is very much business as usual. There is absolutely no change to the underlying business, to the current management team or to the long-term direction of the company.

"We will continue our strong growth, our investment in people, premises and processes in order to provide our stated aim of ‘exceptional veterinary care’”.

 

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FIVP announces third series of Practice Matters

News Story 1
 The Federation of Independent Veterinary practices (FIVP) has announced a third season of its podcast, Practice Matters.

Hosted by Ian Wolstenholme, series three will focus on the Competition and Markets Authority (CMA) investigation, including a discussion about some of the expected impacts on independent veterinary colleagues.

Episode one launches on 13th January with guests Drs David Reader and Scott Summers, who will draw on their research into the CMA investigation and provide insights into themes such as transparency, pricing and consumer trust.

Ian Wolstenholme said: "In its third series, we will try and hone in on what the changes will mean in reality for independent practices with advice and guidance on implementation and delivery, drawing on the experience of our own team and other experts in the profession. Hope you can join us soon!" 

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News Shorts
Survey seeks ruminant sector views on antimicrobial stewardship

A new survey is seeking views of people working in the UK ruminant sector on how to tackle the challenge of demonstrating responsible antibiotic stewardship.

Forming part of a wider, collaborative initiative, the results will help identify the types of data available so that challenges with data collection can be better understood and addressed.

Anyone working in the UK farming sector, including vets and farmers,is encouraged to complete the survey, which is available at app.onlinesurveys.jisc.ac.uk