CMA Provisional Findings: What They Mean for the UK Veterinary Sector 

At Christie & Co, we work closely with operators across regulated sectors, including veterinary, childcare, and healthcare. We welcome the CMA’s engagement with the veterinary market and believe that increased transparency and clarity can benefit all stakeholders, from pet owners to practice owners and investors. 

Key findings in the provisional decision 
 
The CMA believes there are competition problems in the veterinary services market.   Their primary concerns include: 

• Lack of clear and timely information for pet owners: Pet owners may not get adequate details about who owns the practice, treatment options, pricing, and alternatives.   
• Barriers to pet owners making informed choices: These include difficulties comparing practices, limited transparency, and constraints in switching providers.  
• Regulatory framework being out of date: The existing rules may not sufficiently support competition or protect pet owners in this market.

Proposed Remedies 

If the CMA’s final decision supports these findings, a legal Order may follow, introducing binding obligations. These could include: 

• Price transparency: Practices would need to publish price lists for defined services and treatments, provide itemised bills, and written estimates for procedures over £500 
• Prescription clarity: Pet owners must be informed of their right to written prescriptions and potential cost savings online, and set a cap on prescription-writing fees  
• Ownership disclosure: Clear identification of practice ownership, especially within multi-practice groups
• Staff independence: Policies to ensure vets and nurses can offer impartial advice, with potential training requirements
• Complaint handling: Practices must maintain a robust complaints process and report compliance annually to the RCVS

Potential Sector Impact 

While the full implications remain to be seen, the CMA anticipates that these remedies could: 

• Improve pricing transparency and consumer confidence 
• Clarify ownership structures, aiding comparison
• Strengthen complaints processes and trust
• Make clear which practices are independent vs group-owned, helping comparisons
• Encourage competition in out-of-hours services by making it easier for practices to exit existing contracts or find alternatives  

From Christie & Co’s perspective, greater transparency across the sector is a positive step. It can help build confidence among consumers, funders, and operators alike, particularly in valuation processes, where clarity around income streams (e.g. from pharmaceuticals) is increasingly important. 

What Comes Next 

• Consultation responses are due by 12 November 2025
• A final decision is expected by May 2026 (likely February or March)
• If confirmed, the CMA has up to six months to issue the Order
• Practices would then enter a compliance period, with longer timelines for smaller operators

Our Position 

As a trusted adviser in the veterinary sector, we are monitoring developments closely. While it’s too early to predict the full impact on valuations or operations, we believe that transparency and consistency are beneficial for all market participants. In our view, the changes are unlikely to negatively affect the veterinary market overall and could foster a more open, competitive marketplace. We encourage operators and funders to stay informed and consider how future changes might affect their business and customers. If you’d like to discuss your specific circumstances, please don’t hesitate to get in touch with our team. 

Christie & Co is one of the leading advisers within the industry, with veterinary valuations surpassing £100 million across 55 properties alone in 2025, covering purposes for loan security, acquisitions, disposals, partnerships and pensions. 

For further information on the sector and team, please see our veterinary documentation: here