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<blockquote data-quote="PSQ" data-source="post: 9219240" data-attributes="member: 11374"><p>The cost of vet treatment has hit the headlines recently, with the BBC saying there is to be an enquiry into veterinary medicine costs.</p><p></p><p>What they haven't mentioned is what lies underneath the tip of the iceberg: the wholesale change in veterinary practice ownership, and the size of the various 'mega vet' corporations.</p><p>Take Vet Partners as an example, a few years ago they refinanced the company to the tune of $700,000,000 to allow further expansion. In the 2023 accounts that borrowing has been extended to £1.49 <u>BILLION.</u></p><p>Incase you're wondering why your bills have gone up, the accounts also show that they are reporting an eye watering profit margin of 77%.</p><p>And if you think this doesn't matter to you, the mega vets are <a href="https://ivcevidensia.com/sell-your-clinic/" target="_blank">actively pursuing most of the vet practices </a>in the country, don't be surprised to find that 'Burt and Pete' (<a href="https://www.vetpartners.co.uk/our-practices/?practice_region=all-regions&location=" target="_blank">insert local vets names here</a>) have taken the 30 pieces of silver, and now work for the other side.</p><p></p><p>Unlike the bills which are eye watering, the profit of the mega vets is eye opening:</p><p></p><p>IVC (multinational) makes nearly £1 billion in profit</p><p>[URL unfurl="true"]https://www.vettimes.co.uk/news/ivc-evidensia-eyeing-further-growth-as-capital-plan-pondered/[/URL]</p><p>[URL unfurl="true"]https://ivcevidensia.co.uk/[/URL]</p><p></p><p>Vet Partners annual report:</p><p>[URL unfurl="true"]https://www.vetpartners.co.uk/app/uploads/2023/12/VETPARTNERS-GROUP-LIMITED-30-Jun-23-FINAL.pdf[/URL]</p><p></p><p>Competition and Markets Authority (formerly Monopolies and Mergers Commission), watching, but effectively toothless:</p><p>[URL unfurl="true"]https://www.gov.uk/government/news/takeover-of-eight-vet-businesses-could-increase-costs-for-animal-owners[/URL]</p><p></p><p>[URL unfurl="true"]https://www.vettimes.co.uk/news/uks-largest-vet-group-still-hungry-for-more/[/URL]</p></blockquote><p></p>
[QUOTE="PSQ, post: 9219240, member: 11374"] The cost of vet treatment has hit the headlines recently, with the BBC saying there is to be an enquiry into veterinary medicine costs. What they haven't mentioned is what lies underneath the tip of the iceberg: the wholesale change in veterinary practice ownership, and the size of the various 'mega vet' corporations. Take Vet Partners as an example, a few years ago they refinanced the company to the tune of $700,000,000 to allow further expansion. In the 2023 accounts that borrowing has been extended to £1.49 [U]BILLION.[/U] Incase you're wondering why your bills have gone up, the accounts also show that they are reporting an eye watering profit margin of 77%. And if you think this doesn't matter to you, the mega vets are [URL='https://ivcevidensia.com/sell-your-clinic/']actively pursuing most of the vet practices [/URL]in the country, don't be surprised to find that 'Burt and Pete' ([URL='https://www.vetpartners.co.uk/our-practices/?practice_region=all-regions&location=']insert local vets names here[/URL]) have taken the 30 pieces of silver, and now work for the other side. Unlike the bills which are eye watering, the profit of the mega vets is eye opening: IVC (multinational) makes nearly £1 billion in profit [URL unfurl="true"]https://www.vettimes.co.uk/news/ivc-evidensia-eyeing-further-growth-as-capital-plan-pondered/[/URL] [URL unfurl="true"]https://ivcevidensia.co.uk/[/URL] Vet Partners annual report: [URL unfurl="true"]https://www.vetpartners.co.uk/app/uploads/2023/12/VETPARTNERS-GROUP-LIMITED-30-Jun-23-FINAL.pdf[/URL] Competition and Markets Authority (formerly Monopolies and Mergers Commission), watching, but effectively toothless: [URL unfurl="true"]https://www.gov.uk/government/news/takeover-of-eight-vet-businesses-could-increase-costs-for-animal-owners[/URL] [URL unfurl="true"]https://www.vettimes.co.uk/news/uks-largest-vet-group-still-hungry-for-more/[/URL] [/QUOTE]
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