- CEO
- Richard William Mark Fairman
- Full Time Employees
- 9,000
- Sector
- Healthcare
- Industry
- Medical - Care Facilities
- Address
- CVS House Diss NO United Kingdom IP22 4ER
- IPO Date
- Mar 23, 2018
- Business
- CVS Group plc (Ticker: CVSGF) is a leading provider of integrated veterinary services primarily in the United Kingdom and Australia. Founded in 1999 and headquartered in Diss, Norfolk, United Kingdom, the company operates approximately 500 veterinary practices, including companion animal, equine, farm animal, and specialist referral hospitals; dedicated out-of-hours sites; diagnostic laboratories offering fast and accurate pathology services across three sites; an online pharmacy and retail business through Animed Direct selling prescription and non-prescription medications, pet food, nutritional products, and accessories; pet healthcare plans via the Healthy Pet Club for cats, dogs, rabbits, puppies, and kittens and the Horse Health Programme for horses, ponies, and donkeys; buying groups such as MiVetClub and VetShare for independent practices; and wholesaler Vet Direct supplying over 14,000 veterinary products including consumables, instruments, equipment, and implants; as well as proprietary veterinary product ranges MiPet and EqueVet-Pro. The company serves pet owners, independent veterinary practices, and charities, with the majority of revenue generated from its core Veterinary Practices division, supplemented by Laboratories and online retail segments. Geographically, CVS Group maintains extensive operations across the UK, with expanding presence in Australia and limited activities in the Netherlands and Ireland.
In recent developments, CVS Group has accelerated its expansion in Australia, completing seven acquisitions comprising 15 practice sites for £29.2 million during the fiscal year ended June 30, 2025, and two further acquisitions including Sydney Animal Hospitals with eight sites for £23.6 million shortly thereafter, bringing its Australian portfolio to 31 practices across 51 sites and enabling purchasing synergies. The company divested its pet crematoria operations for £42.3 million, reducing leverage to 1.18x from 1.54x and generating a profit on disposal of approximately £32.0 million. CVS Group reported a 5.4% revenue increase to £647.3 million for fiscal 2025, with like-for-like sales up 0.2% and adjusted EBITDA rising 4.7% to £127.3 million, alongside £34.2 million in capital expenditure for practice refurbishments, relocations, clinical equipment, and technology; it continues a £20 million share buyback programme and awaits resolution of the UK Competition and Markets Authority investigation into the veterinary sector to resume UK acquisitions. For the four months ended October 31, 2025, sales grew 5.7% with improved adjusted EBITDA, supported by strong cash conversion and leverage at 1.27x.