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Private equity firm CVC to acquire a majority stake in Medivet
CVC has announced that it will acquire a majority stake in Medivet by the end of 2021.
The deal will see CVC take on the veterinary care provider by the end of the year.

Private equity firm CVC Capital Partners has agreed to acquire a majority interest in Medivet for an undisclosed amount, it has been announced.

The deal will see CVC take on the veterinary care provider by the end of the year ‘subject to regulatory approvals’. The transition is being overseen by HSBC, Travers Smith, KPMG and EY.

With CVC’s backing, Medivet states that it ‘will pursue a strategy focused on driving both organic and inorganic growth'. Medivet – which has more than 350 branches in the UK - has recently expanded throughout Europe with operations in Germany and Spain.

Deirdre Burns, CEO of Medivet, said: “I am delighted that CVC has decided for its funds’ to invest in Medivet to fuel and support our ambitions and growth plans for the UK and Europe, and look forward to working together to bring them to fruition. “Over the last 34 years, our Central Partners, Branch Partners and all our people have worked hard to build an outstanding business, centred on delivering exceptional care and service to our patients and clients.”

Arnold Levy, on behalf of the founders of Medivet, added: "It is with great pride that we see Medivet in the position it is today and would like to extend our congratulations to all our outstanding staff who endeavour daily to make pets' lives better. Deirdre and her management team have worked tirelessly to build on the Company's track record in recent years, and to ensure it is well placed to continue its growth in the years to come. In CVC, we have found a new investor and partner who appreciate our industry, our business and its model and we wish them all the best for the next phase of the journey."

Dominic Murphy, managing partner and co-head of UK Investments at CVC, added "Medivet is a fast-growing and attractive business, where we are delighted to be backing the management team, led by CEO Deirdre Burns, to further grow the UK business and accelerate international expansion. CVC Funds have significant experience investing in similar service-based healthcare businesses across Europe, and believe we can use these learnings to support the team effectively."

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RCVS Knowledge appoints Veterinary Evidence editor-in-chief

News Story 1
 RCVS Knowledge has welcomed Professor Peter Cockcroft as editor-in-chief for Veterinary Evidence.

A world-renowned expert in evidence-based veterinary medicine, Prof Cockcroft will lead the strategic development and editorial quality of the open-access journal. He was previously in the role from 2017-2020.

Katie Mantell, CEO of RCVS Knowledge, said: "We are excited about the extensive knowledge of evidence-based veterinary medicine and clinical veterinary research that Peter brings, and we look forward to working with him over this next phase of the journal's development." 

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News Shorts
CVS Group hit by cyber attack

CVS Group, which owns more than 450 veterinary practices in the UK, has been hit by a cyber attack.

In a statement, the group said the incident involved unauthorised external access to a limited number of its IT systems. As soon as the attack was discovered, the group took its IT systems temporarily offline, causing 'considerable operational disruption'.

It has warned that the security steps taken and ongoing plans to move its operational systems and IT infrastructure to the Cloud are likely to have an ongoing impact over a number of weeks.

Due to the risk that personal information was accessed, CVS has informed the Information Commissioner's Office. The company is working with third party consultants to investigate the incident.