'Fat cat' firms are preying on independent vets' practices, Senedd petition debate told

PRIVATE equity firms have been accused of collaring the market in a corporate “feeding frenzy” that has seen local, independent vets gobbled up by global giants.

- By CHRIS HAINES

Campaigner Linda Evelyn Joyce Jones

Carolyn Thomas told the Senedd that non-vet ownership has led to a “monopolisation” of the sector, with six big firms owning 60% of UK practices - up from 10% a decade ago.

Leading a debate this week, the Labour politician warned the “endless pursuit of profit” was driving down wages for staff while pushing up fees for customers.

“The cost-of-living crisis has put significant financial burden on pet owners,” she said.

“Many have been priced out of pet insurance, with premiums based on postcode. If an area has a large corporate presence, premiums are higher, but without insurance, sudden, huge vet bills can be impossible to pay...

“I read about pet owners skipping meals to cover costs, having to hand over their pets to rescue, or - in some cases - very sadly being forced to euthanise their pet.”

The short debate was prompted by a petition submitted by Linda Evelyn Joyce-Jones raising concerns about the corporate takeover of veterinary practices.

In 1999, the Blair government changed the law to allow vet practices to be owned not only by qualified veterinary surgeons.