PVG.L Share News (PVG)

(Sharecast News) - Premier Veterinary Group announced on Wednesday that its wholly-owned subsidiary, Premier Vet Alliance US, has signed a contract with an unnamed "major" corporate veterinary consolidator in the United States.The London-listed firm said the customer had more than 140 hospitals across 25 states, with in excess of 700 full-time vet equivalents.Of those hospitals, it said more than 100 were companion animal - the target market for the group - with a full-time vet equivalent complement of over 500.The average size of the customer's hospitals was said to be in the region of five full-time vet equivalents, which was approximately twice the average size of UK and US practices currently served by Premier Veterinary Group.It said the contract would initially introduce Premier Vet Alliance's preventative health care programme for pets, branded 'Premier Pet Care Plan', to 15 of the customer's companion animal hospitals.At the end of the pilot phase, which was expected to last between three and six months, the contract could be extended to a three-year term with a full rollout to all of the customer's companion animal hospitals.Premier Veterinary said the contract was unlike previous co-operation agreements that had been signed with distributors in the US, and would see Premier Pet Care Plan launched in all the customer's existing sites over a 12 month period.Furthermore, Premier Pet Care Plan would be launched in hospitals acquired or opened by the customer in the future throughout the contract period.As the fourth largest corporate consolidator in the US, the company said it represented a "significant opportunity" to grow Premier Vet Alliance's existing market share in this key territory."I am delighted to announce this deal which will help propel the business forward with a large and well respected US corporate consolidator," said Premier Veterinary Group chief executive officer Dominic Tonner."It is clear vindication and reward for the unswerving focus the team have for the business and the changes we have implemented to satisfy the US market."