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CVS Group sells Dutch and Irish businesses for €2
CVS Group has seen significant fianncial losses in its subsidiaries.
The corporation has seen significant losses across the subsidiaries.

CVS Group PLC is to sell its non-core operations in the Netherlands and the Republic of Ireland for just €2.

The corporation announced its decision on Tuesday, stating that the businesses were ‘loss-making’.

Operations in both the Netherlands and the Republic of Ireland have resulted in financial loss for CVS Group. In the financial year ending 30 June 2023, the businesses made the corporation a loss of £6.8m before tax.

They were forecast to end the next financial year with a further loss of £6m.

The businesses have now been sold to Global Veterinary Excellences Limited, for the price of just €2 (£1.70).

Global Veterinary Excellences Limited is owned by James Cahill, a veterinary surgeon and former director of the subsidiaries. Dr Cahill previously worked for CVS Group for six years, and has over 30 years’ experience in the industry.

This decision was made by CVS Group’s chief executive officer, Richard Fairman, in response to the negative contribution the business were making to cash flow. The CEO felt that significant management focus would have been needed to address their failing operational performance.

The sale comes at a challenging time for the large corporation which, in April, was hit by a cyber attack.

The group, which owns 450 practices in the UK, found that unauthorised external access had been made to some of its IT systems. It was forced to take its IT systems temporarily offline, and reported the incident to the Information Commissioner’s Office.

Large corporations like CVS Group also made the headlines in March, when the Competition and Markets Authority (CMA) reported that consolidation from corporate groups could be weakening the veterinary market.

The CMA’s findings suggested that these corporations were limiting consumer choice, by investing in and promoting higher cost treatments to their clients.

Despite these challenges, Mr Fairman said that the low-value sale formed a part of CVS Group’s growth strategy.

Mr Fairman said: "Our Netherlands and Ireland practices no longer fit with our strategy of focusing on growth in the UK and Australian markets.

“We have exciting plans to expand in Australia and this disposal will free up working capital and management capacity to support our continued expansion.”

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BEVA gives RVNs right to vote

News Story 1
 The British Equine Veterinary Association (BEVA) is to allow its registered veterinary nurse (RVN) members the right to vote.

RVN members will now be able to take part in key decision-making processes and stand for BEVA council.

Marie Rippingale, chair of BEVA's Nurse Committee, said: "I am very proud to be a part of BEVA.

"This change will help to empower nurses to speak up and contribute, but more importantly, it will give them an opportunity to collaborate with other members of the equine veterinary profession to bring about change that is positive for all." 

Click here for more...
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Bluetongue vaccines comparison table produced for vets

The Ruminant Health and Welfare Group has produced a comparison table on the vaccines available in the UK for bluetongue virus serotype 3.

The three vaccines, which have been permitted for use by the secretary of state for environment, food and rural affairs, claim to reduce symptoms rather than prevent animals from catching the disease.

The table looks at a range of different factors for each vaccine, including their use in sheep and cattle, their use during pregnancy, adverse events, and storage requirements.

The comparisons have been compiled by Flock Health in collaboration with the British Veterinary Association, the British Cattle Veterinary Association, the Sheep Veterinary Society, the British Deer Veterinary Association, the British Camelid Association, and the Goat Vet Society.

The comparison table, and further information on the bluetongue vaccines, can be accessed here.