GovWire

Phase 1

Statutory timetable

CMA to consider undertakings offered

2 June 2023: Medivet and CVC Capital Partners jointly offered undertakings to the CMA, which involve reconstituting and divesting the assets and business of the veterinary practice under the name Caddy Veterinary Surgery/Practice and divesting each of the 10 businesses listed below:

• All Creatures Clinic Limited
• The assets and business of the veterinary practice under the name Iffley Vets
• The Oxford Cat Clinic Limited
• The Vet Station Limited
• Barton Companion Animal Services Limited
• I T Kalogera Holdings Ltd (including its subsidiary I T Kalogera Limited)
• Ferring Street Vets Limited
• The Hackney Vet Limited
• E Street Limited (t/a Elizabeth Street Veterinary Clinic)
• The assets and businesses of the veterinary practices under the name The Vet on Richmond Hill & The Vet in St Margarets

The CMA considers that there are reasonable grounds for believing that the undertakings offered by Medivet and CVC Capital Partners in relation to each of the SLC Mergers listed below, or a modified version of them, might be accepted by the CMA under the Enterprise Act 2002.

Reference unless undertakings accepted

18 May 2023: The CMA has decided, on the information currently available to it, that it is or may be the case that each of the SLC Mergers listed below has resulted or may be expected to result in a substantial lessening of competition within a market or markets in the United Kingdom. Each of the SLC Mergers will be referred for a phase 2 investigation unless Medivet and CVC Capital Partners offer acceptable undertakings to address these competition concerns. The CMA has cleared each of the Clearance Mergers listed below. The full text of the decision will be published in due course.

• Summary of phase 1 decision (PDF, 141 KB) (18.3.23)
• Press release: Vet business takeovers raise competition concerns for pet owners (18.3.23)

SLC mergers

• All Creatures Clinic Limited;
• The assets and business of the veterinary practice under the name Iffley Vets;
• The Oxford Cat Clinic Limited;
• The Vet Station Limited;
• Barton Companion Animal Services Limited;
• I T Kalogera Holdings Ltd (including its subsidiary I T Kalogera Limited);
• Fitzalan House Veterinary Practice Ltd;
• Ferring Street Vets Limited;
• The Hackney Vet Limited;
• The assets and business of the veterinary practice under the name Caddy Veterinary Surgery/Practice
• E Street Limited (t/a Elizabeth Street Veterinary Clinic);
• The assets and businesses of the veterinary practices under the name The Vet on Richmond Hill & The Vet in St Margarets

Clearance Mergers

• The assets and business of the veterinary practice under the name Hollies Veterinary Surgery;
• Canine Healthcare Limited (t/a Vet Value);
• Withy Grove Veterinary Clinic Limited

FNTQ decisions announced

6 April 2023: The CMA has decided that the completed acquisitions by Medivet of Monument Vets Ltd and Stanhope Park Veterinary Hospital Limited do not qualify for investigation under the merger provisions of the Enterprise Act 2002.

• Full text decision (PDF, 88KB) (12.4.23)
• Full text decision (PDF, 89KB) (12.4.23)

Launch of merger inquiries

17 March 2023: The CMA announced the launch of its merger inquiries by notice to Medivet.

• Commencement notice of 17 acquisitions (PDF, 93.3 KB)

The CMA has decided to investigate the following completed acquisitions by Medivet:

• All Creatures Clinic Limited
• The assets and business of the veterinary practice under the name Hollies Veterinary Surgery
• Canine Healthcare Limited (t/a Vet Value)
• The assets and business of the veterinary practice under the name Iffley Vets
• The Oxford Cat Clinic Limited
• The Vet Station Limited
• Barton Companion Animal Services Limited
• Stanhope Park Veterinary Hospital Limited
• I T Kalogera Holdings Ltd (including its subsidiary I T Kalogera Limited) (t/a Brockwell Vets)
• Monument Vets Ltd
• Fitzalan House Veterinary Practice Ltd
• Ferring Street Vets Limited
• The Hackney Vet Limited
• The assets and business of the veterinary practice under the name Caddy Veterinary Surgery/Practice
• E Street Limited (t/a Elizabeth Street Veterinary Clinic)
• The assets and businesses of the veterinary practices under the name The Vet on Richmond Hill & The Vet in St Margarets
• Withy Grove Veterinary Clinic Limited

Invitation to comment: closed

17 March 2023: The CMA is considering whether it is or may be the case that any or all of the transactions listed above have resulted in the creation of relevant merger situations under the merger provisions of the Enterprise Act 2002 and, if so, whether the creation of any of those situations has resulted, or may be expected to result in a substantial lessening of competition within any market or markets in the United Kingdom for goods or services.

To assist it with this assessment, the CMA invites comments on any or all of the transactions from any interested party.

These comments should be provided by the deadline set out above (specifying which of the transaction(s) they refer to).

Directions to appoint a hold separate manager

2 February 2023: Pursuant to the Initial Enforcement Orders issued on 21 December 2022 and 24 January 2023, the CMA directed Medivet Group Limited to appoint a hold separate manager.

• Directions to appoint a hold separate manager (PDF, 138 KB) (13.3.23)

Directions to appoint a monitoring trustee

24 January 2023: The CMA has issued a variation of the directions to appoint a monitoring trustee issued on 4 January 2023 pursuant to paragraph 10 of the initial enforcement orders dated 21 January and paragraph 12 of the initial enforcement order dated 24 January 2023.

• Variation of directions to appoint a monitoring trustee (PDF, 119KB) (30.1.23)

4 January 2023: Pursuant to the initial enforcement orders dated 21 January 2022, the CMA directed Medivet Group Limited, Hecate Holdco Limited, CVC Capital Partners VIII Limited, CVC Capital Partners VIII (A) L.P., CVC Capital Partners VIII Associates L.P. and CVC Capital Partners Investment Europe VIII L.P to appoint a monitoring trustee.

• Directions to appoint a monitoring trustee (PDF, 150KB) (30.1.23)

Initial enforcement orders

24 January 2023: The CMA has revoked and reissued the initial enforcement order imposed on 21 December 2022 in relation to the completed acquisition by Medivet Group Limited of the assets and business of the veterinary practice

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