CVS Group plc

What CVS Group plc does

CVS Group plc is one of the largest UK-listed providers of veterinary services, operating an integrated network of more than 500 practices across the UK and Australia as of mid-2026. The platform spans companion animal first-opinion care (CVS Vets), 24/7 emergency services (MiNightVet, CVS Vets 24/7), specialist referral hospitals (CVS Referrals, 9 sites), equine practices (22 sites, with Equicall and Equicomms), and farm animal practices (15 sites), supported by a 36-pathologist in-house laboratory division across three sites. Underlying technology comprises a cloud-based practice management system, the Vet Oracle telemedical service covering six specialist disciplines plus 24/7 Teleradiology, and early-stage AI software aimed at administrative task reduction.

Revenue is generated through multiple streams: fee-for-service veterinary consultations and procedures across owned practices, recurring subscription memberships (Healthy Pet Club with 519,000+ members and Horse Health Programme), e-commerce and pharmacy retail through Animed, proprietary product sales via MiPet and EqueVet-Pro, B2B supply through Vet Direct and the VetShare/MiVetClub buying groups serving independents, and laboratory diagnostic services. The FY2025 revenue from continuing operations was £673.2m (+5.4% YoY), with adjusted EBITDA of £134.6m (20.0% margin) and leverage at 1.18x. The company transferred its listing from AIM to the London Stock Exchange Main Market in January 2026, launched a £50m share buyback in May 2026, and is under regulatory pressure from the CMA, whose pricing transparency and fee-cap remedies take effect by September 2026.

Name

CVS Group plc

Legal name

CVS Group plc

Website

https://cvsukltd.co.uk

Company type

Public

Founded year

2007

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

CVS Group plc is a UK-listed veterinary services provider operating 500+ practices across companion animal, equine, farm, and referral care in the UK and Australia, supplemented by diagnostic laboratories, subscription health plans, online pharmacy, and B2B supply.

Ownership category

akta.pro rank

Product category

Veterinary Services

NAICS

Veterinary Services (541940), Support Activities for Animal Production (1152), Pet and Pet Supplies Retailers (459910)

SIC

Services-Offices & Clinics Of Doctors Of Medicine (8011), Wholesale-Medical, Dental & Hospital Equipment & Supplies (5047), Services-Medical Laboratories (8071)

akta.pro primary industry

General Practice Veterinary Clinics (Wellness & Primary Care) (HLAMAAAA)

akta.pro secondary industries

Livestock & Farm Animal Veterinary Services (AFAEANAB), Equine Ambulatory & On-Farm Veterinary Services (HLAMABAE), Veterinary Telemedicine & Virtual Care Platforms (HLAMAMAC), Veterinary Inventory, Pharmacy & Medication Management (HLAMAMAF), Animal Health OTC Retail (Parasite Control, Basic Care) (HLAMAIAJ)

Keywords

• Veterinary services
• Companion animal healthcare
• Veterinary diagnostics
• Pet health plans
• Veterinary practice supply

Headquarters

HQ city

Diss

HQ country

United Kingdom

HQ region

Europe

Offices3 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Veterinary Practice Services: Revenue from veterinary consultations, treatments, and procedures across 500+ companion animal, equine, farm, and referral practices in the UK and Australia. Includes out-of-hours emergency services through MiNightVet.
2. Healthy Pet Club Membership: Recurring monthly or annual subscription fees from pet health plan memberships offering preventative healthcare services, discounts on treatments, and routine care. Over 519,000 members.
3. Horse Health Programme: Monthly (£15.99) or annual (£179.88) subscription for preventative equine healthcare including vaccinations, dental exams, worm egg counts, and discounts on treatments.
4. Animed Online Retail: E-commerce revenue from online sales of prescription and non-prescription medications, pet food, nutritional products, and pet accessories. One of the UK's biggest sellers of pet care products.
5. MiPet and EqueVet-Pro Products: Revenue from proprietary veterinary product range including POM-V products (parasiticides, antibiotics, NSAIDs), nutritional supplements, microchips, and life stage pet foods sold directly to practices.
6. Laboratory Diagnostic Services: Revenue from diagnostic testing services across three laboratory sites providing biochemistry, haematology, endocrinology, serology, PCR, microbiology, allergy testing, dermatological testing, cytology, and histopathology services to CVS practices and third parties.
7. Practice Acquisitions: Revenue growth through acquisition of veterinary practices, with A$57.9m invested in seven Australian practices (fifteen sites) in FY25.

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels7 records

Core offering

CVS Group plc delivers veterinary services through a network of over 500 owned practices across the UK and Australia spanning companion animal first opinion (CVS Vets, MiNightVet), equine (CVS Equine, Equicall), farm (CVS Farm), and 9 specialist-led referral hospitals. The core service is augmented by subscription-based preventative health plans (Healthy Pet Club, Horse Health Programme), in-house diagnostic laboratories, an online pharmacy (Animed), proprietary veterinary product brands (MiPet, EqueVet-Pro), B2B supply (Vet Direct), and buying groups (VetShare, MiVetClub) that serve independent veterinary practices.

Product overview

CVS Group plc is a leading UK-listed veterinary services provider operating a platform-plus-modules architecture. The core platform consists of over 500 veterinary practices across multiple specialties including companion animal (CVS Vets, MiNightVet, CVS Vets 24/7), equine, farm, and 9 specialist-led referral hospitals. This is supplemented by a comprehensive suite of support services: Animed (online retail pharmacy), The Healthy Pet Club and Horse Health Programme (preventive healthcare plans), CVS Laboratories (diagnostic services), MiPet and EqueVet-Pro (proprietary veterinary product brands), Vet Direct and VetShare/MiVetClub (buying groups), Vet Oracle (telemedicine), and Equicall/Equicomms (equine out-of-hours). International expansion through Australia acquisitions provides additional growth vector.

Differentiator

Problem solved

Functional benefit

Brands

• Animed: Online retail division for pet medications and supplies
• Animed Direct
• Healthy Pet Club

Products and services

• CVS Vets (Companion Animal First Opinion) Over 490 companion animal first opinion veterinary practices across the UK, Northern Ireland and Australia providing consultations, vaccinations, dental care, parasite treatment, microchipping, neutering, surgical procedures, and diagnostic testing for cats, dogs, rabbits, puppies, and kittens.
• CVS Vets 24/7 / MiNightVet (Out-of-Hours Emergency Care) 40 dedicated out-of-hours MiNightVet practices providing 24/7 emergency veterinary care with state-of-the-art facilities and dedicated staff, serving as a dedicated out-of-hours provider for local veterinary practices.
• CVS Referrals (Specialist Referral Hospitals) 9 specialist-led referral hospitals providing multi-disciplinary care for complex and urgent cases, employing internationally renowned veterinary specialists across multiple disciplines.
• CVS Equine Complete range of industry-leading equine veterinary services across 22 sites in the UK and Northern Ireland, supported by over 20 recognised Veterinary Specialists offering ambulatory care, specialist referrals, diagnostics, and routine equine healthcare.
• CVS Farm Over 120 vets across 15 modern farm-specific practices offering comprehensive services focused on preventing disease and maximising production efficiency for livestock operations.
• CVS Australia (International Operations) Over 30 small animal practices across major Australian urban conurbations including Sydney, Melbourne, Brisbane, Perth, Canberra, Newcastle and Adelaide.
• Animed (Online Retail Pharmacy) One of the UK's biggest sellers of pet care products online, offering prescription and non-prescription medications, pet food, nutritional products, and pet accessories. Achieved a 4.6 Trustpilot rating across 300,000+ reviews as Animed Direct.
• The Healthy Pet Club Subscription preventative healthcare plan for cats, dogs, rabbits, puppies, and kittens offering initial vaccination course, parasite treatment, 10% discount on vet fees and products, 20% discount on neutering and lifetime care medications, fixed price dental, nurse health checks, microchip, nail clipping, and food offers via monthly or annual Direct Debit. Over 519,000 members.
• Horse Health Programme Subscription preventative healthcare plan for horses, ponies, and donkeys at £15.99 per month or £179.88 per year, including annual flu/tetanus vaccination, health check, dental examination with rasp, four faecal worm egg counts, tapeworm saliva test, worm risk assessment, winter wormer, 10% off veterinary treatment and out-of-hours services, and 20% discount on lifetime care medicines. Multi-horse discount of £1 per month for each additional horse.
• CVS Laboratories Diagnostic services across three laboratory sites offering biochemistry, haematology, endocrinology, serology, PCR, microbiology, allergy testing, dermatological testing, cytology, and histopathology. 36 experienced pathologists including ex-government pathologists. Door-to-door courier sample collection throughout England and Wales.
• MiPet (Proprietary Veterinary Products) Exclusive range of high-quality veterinary products manufactured to Veterinary Medicines Directorate (VMD) standards including POM-V products (parasiticides, antibiotics, NSAIDs, systemic and topical medications), nutritional supplements (joint, gastric, liver support), pet and equine microchips, and life stage pet foods. Supplied directly by CVS to practices.
• EqueVet-Pro (Proprietary Equine Products) Exclusive equine veterinary product range for managing conditions, treating acute or chronic illnesses, and maintaining equine health, supplied as part of the MiPet & EqueVet-Pro range.
• Vet Direct (B2B Practice Supply) Sells over 8,000 products to veterinary practices (both corporate and independent) and associated charities and institutions, across three product groups covering all disciplines and species: consumables (bandaging, needles, syringes, theatre procedure packs), equipment (diagnostic imaging, instruments, pet housing, surgical furniture), and workwear (general day wear, theatre wear, protective and outdoor wear, with embroidery).
• VetShare (Buying Group) Buying group for independently owned and operated veterinary practices and charities offering rebate facilitation, annual loyalty scheme (FairShare), exclusive access to CVS's MiPet and Equevet brands, bespoke health plan setup and management via Direct Debit under the MiHealthyPet brand, access to discounted services with CVS Laboratories, and access to CVS's two-year Graduate Training Programme.
• MiVetClub (Buying Group) Buying group for independently owned and operated veterinary practices and charities offering full rebate management (acting as agent of the wholesaler), exclusive access to CVS's MiPet and Equevet brands, bespoke health plan setup under the MiHealthyPet brand, access to discounted partner services, and graduate programme access.
• Vet Oracle (Telemedicine) Vet-to-vet telemedical service offering Specialist interpretation of results and practical virtual assistance across six specialisms (cardiology, dermatology, medicine, neurology, oncology, ophthalmology). Includes 24/7 Teleradiology image interpretation service for CT/MRI, radiographic, and ultrasound interpretation.
• Equicall (Equine Out-of-Hours) Out-of-hours service providing experienced equine vets to cover equine emergencies — the first dedicated equine out-of-hours service in the UK, with over 30 vets covering South East, South West, South Wales, Midlands and Yorkshire.
• Equicomms (Equine Answering Service) Answering service staffed by veterinary nurses and experienced equine vets to cover out-of-hours emergencies for equine clients.

Quantifiable outcome

• Client Net Promoter Score increased to 78.9 (2024: 68.0)
• +5 more outcomes

Named customers3 records

Segments5 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Scale indicators16 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• IVC Evidensia: Largest veterinary group in Europe with over 2,500 clinics across 20+ countries, including a major UK presence that directly competes with CVS's first-opinion and referral practice network. Closest head-to-head competitor for independent practice acquisitions and corporate veterinary market share in the UK.
• VetPartners: UK-based veterinary group operating several hundred practices across small animal, equine, farm, and referral segments, owned by BC Partners. Directly comparable multi-specialty platform competing for the same independent practice acquisition targets and pet owner customer base as CVS.
• Medivet Group: Large UK veterinary group with over 400 practices including a 24/7 out-of-hours network and specialist centres. Direct competitor for UK companion animal, referral, and acquisition-driven growth, with overlapping service categories and customer segments.
• Linnaeus Veterinary Limited: UK veterinary group owned by Mars Veterinary Health, operating primary care practices alongside a network of specialist referral hospitals. Competes directly with CVS Referrals for complex case referrals and multi-disciplinary veterinary talent in the UK.
• Independent Vetcare (IVC) UK Division: UK arm of IVC Evidensia, operating several hundred practices across first opinion, referral, and out-of-hours services. Direct competitor within the UK market for independents considering acquisition and for veterinary talent.

Broad incumbents

• Pets at Home Group: UK pet care retailer with over 450 in-store veterinary practices and grooming/retail services. Overlaps with CVS on companion animal clinics and online pharmacy, though Pets at Home's wider retail focus and own-brand strategy make it a broader incumbent rather than pure veterinary peer.
• Mars Veterinary Health (Banfield, VCA, BluePearl): Global veterinary services arm of Mars Inc., operating the world's largest veterinary network across North America and Europe (including Linnaeus in the UK). Broader incumbent competing for talent, M&A targets, and international expansion benchmarks relevant to CVS's Australia strategy.
• National Veterinary Associates (NVA): Large US-based veterinary group operating over 1,000 animal hospitals, specialty practices, and pet resorts. Broad incumbent offering a comparable acquisitive growth playbook, referral/specialty structure, and centralised support services model relevant to CVS's strategic approach.

Regional players

• Greencross Vets (Australia): Australia's largest veterinary group with over 170 practices, owned by TPG Capital. Directly comparable regional peer relevant to CVS's Australia expansion (Sydney, Melbourne, Brisbane, Perth, Adelaide), competing for the same Australian acquisition targets and urban pet owner base.

Emerging players

• Southern Veterinary Partners: US veterinary group operating 400+ animal hospitals across the southern US, with an aggressive acquisition-led growth strategy. Comparable acquisitive growth profile and primary care plus specialty mix, though geographically focused on the US rather than competing directly with CVS.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/cvsgroupplc
• Facebookfacebook.com/CVSGroupPlc

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries3 records

Funding overview

Funding rounds2 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A155 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about CVS Group plc