2 Jun 2016 07:00
PREMIER VETERINARY GROUP PLC
("PVG" or "the Company")
MAJOR AGREEMENT SIGNED IN THE US FOR PREMIER PET CARE PLAN
London, UK, 2 June 2016 - Premier Veterinary Group plc (LSE: PVG) announces that its wholly-owned subsidiary, Premier Vet Alliance (US) Limited ("PVA"), has signed a major agreement with Veterinary Products, Inc. ("VPI"), a significant veterinary distributor co-op, headquartered in Atlanta, Georgia, US.
The contract is to supply the Company's preventative healthcare program for pets, branded in the US as "Premier Pet Care Plan" ("PPCP"), to VPI's member hospitals numbering over 600 across 15 States, located primarily in the South East of the US.
The initial 5-year agreement is to introduce PPCP to VPI's member hospitals and the target over the contract period is to reach at least 200,000 pets on plan. The first pets on plan are expected during the second half of the calendar year.
Bob MacDonald, President of VPI, commented:
"VPI has run wellness programs in the past, but PVA is the first to come to us with a model that delivers a product-led program with a comprehensive support package and delivering an end-to-end solution. We are a veterinarian and product driven distributor with very efficient delivery systems, and PVA meets our exacting requirements on customer service."
Dominic Tonner, Chief Executive Officer of PVG, added:
"We are delighted to have secured such a prestigious contract so soon after announcing our entry into the US market last month with our first 10 signed hospital contracts. VPI is an award winning business and a highly respected industry player. We look forward to a rapid and successful roll-out of our Premier Pet Care Plan across the VPI membership."
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
Square1 Consulting Tel: +44 (0)207 929 5599
David Bick/Brian Alexander
Note to Editors:
The available market for preventative healthcare programs for pets across the US is estimated at 70 million dogs and 74 million cats (U.S. Pet Ownership & Demographics Sourcebook 2012). The largest operator in this segment in the US is reported to have one million pets on such programs.
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 "Pet Care Plan"; and the operation of a buying group (the "PVA Buying Group") which offers enhanced discounts to member practices on pharmaceutical and consumable spending. In the US, Pet Care Plan is branded "Premier Pet Care Plan" and is marketed through the Company's wholly-owned subsidiary, Premier Vet Alliance (US) Limited.
Pet Care Plan 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.
Pet Care Plan 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 Pet Care Plan 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 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.