5 Sep 2016 16:53
PREMIER VETERINARY GROUP PLC
("PVG" or "the Company")
PREMIER PET CARE PLAN EXTEND CONTRACT WITH MEDIVET GROUP LTD
London, UK, 5 September 2016 - Premier Veterinary Group plc (LSE: PVG) announces that, through its wholly-owned subsidiary, Premier Vet Alliance Limited ("PVA"), it has signed a three-year extension to its existing contract to provide its preventative healthcare program for pets, Premier Pet Care Plan, to all Medivet's new and existing practices in the UK.
Medivet Group Ltd is one of the largest veterinary groups within the UK currently operating out of 143 practices based across all geographic areas of the country, with plans to expand their representation as acquisition opportunities present themselves.
Dr Arnold Levy BVSc MRCVS, Chief Executive Officer, Medivet Partnership LLP, commented:
"Medivet has a range of partnerships which deliver innovative services to our veterinary clinics and we have been delighted with the support that we have received over the past three years whilst working closely with PVA. PVA's well implemented and supported service has enabled us to provide an excellent healthcare plan to our clients, and has delivered significant financial benefits to our business. We are delighted to have signed a new contract to extend our working arrangement with PVA for a further three-year term."
Dominic Tonner, Chief Executive Officer of PVG, commented:
"Our partnership with Medivet has delivered significant benefits to both parties during the past three years and we are delighted to have agreed a further three-year extension to our existing contract to provide our healthcare plan to all their existing and new clinics.
The collaboration between our companies has been mutually beneficial and it has been a pleasure working closely with such a progressive and industry leading company"
For further information, please contact:
Premier Veterinary Group plc Tel: +44 (0)117 970 4130
Dominic Tonner, Chief Executive Officer
Daniel Smith, Chief Financial Officer
Zeus Capital Limited Tel: +44 (0)203 829 5000
Giles Balleny, Director, Corporate Finance
Hugh Kingsmill Moore, Director, Sales
Square1 Consulting Tel: +44 (0)207 929 5599
David Bick/Brian Alexander
Note to Editors:
PVG's services to third party veterinary practices, through its wholly-owned subsidiary Premier Vet Alliance Limited ("PVA"), include the administration and support of a preventative healthcare program for pets branded "Premier Pet Care Plan" ("PPCP"); and the operation of a buying group (the "PVA Buying Group") in the UK and Ireland, which offers enhanced discounts to member practices on pharmaceutical and consumable spending. PPCP is branded as "Huisdieren Zorg Plan" ("HZP") in the Netherlands and, in the US, PPCP is marketed through the Company's wholly-owned subsidiary, Premier Vet Alliance (US) Limited.
PPCP is a structured, preventative healthcare program for cats, dogs and rabbits and is available only through veterinary practices. The program is seen as a way of providing gold standard care for pets at an affordable price for the client, by way of fixed monthly payments.
PPCP uses a clinical approach to prevention, as this is the most effective method of ensuring illnesses are diagnosed more quickly and not given a chance to advance. What truly sets PPCP apart is its unique approach of offering an end-to-end solution and support to the practice, which has been proven to work extremely well. PVA works alongside practices to create a tailor-made, cost-effective service for clients, one that delivers excellent care to their patients and significantly improves practice performance.
The PVA Buying Group, is now the UK's largest veterinary buying group without group interests in veterinary practices or veterinary wholesalers offering its members some of the best discounts across the industry on pharmaceutical and consumable spend.
For further details: http://www.premiervetalliance.co.uk/
This announcement includes "forward-looking statements" which include all statements other than statements of historical facts, including, without limitation, those regarding the Company's financial position, business strategy, plans and objectives of management for future operations, and any statements preceded by, followed by or that include forward-looking terminology such as the words "targets", "believes", "estimates", "expects", "aims", "intends", "will", "can", "may", "anticipates", "would", "should", "could" or similar expressions or the negative thereof. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the Company's control that could cause the actual results, performance or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding the Company's present and future business strategies and the environment in which the Company will operate in the future. These forward-looking statements speak only as at the date of this announcement. The Company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained in this announcement to reflect any change in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based. As a result of these factors, readers are cautioned not to rely on any forward-looking statement.