Private Equity Survives Its UK Veterinary Examination

Two years after initiating a review of the £6.3 billion ($8.5 billion) UK veterinary sector amid concerns that large private equity-owned groups are overcharging pet owners, the Competition and Markets Authority this week proposed reforms to make pet care more competitive and affordable. Although well intended, its conclusions and remedies are underwhelming.

Customers are often in the dark about the cost of treatments, unaware their local vet is part of a corporate chain and paying huge markups for medication, the CMA found; hence it wants vets to publish price lists for common procedures to aid comparability and to inform consumers it may be cheaper to obtain medicine online (while capping fees for written prescriptions).