The Norwegian billionaire who owns Britain's biggest veterinary chain is making money as pet owners face “eye-watering” prices for caring for their pets.
Real estate mogul Christian Sinding, 51, is the owner of IVC Evidencia, one of several companies implicated this week in the veterans' price hike.
The chain's UK revenue soared from £834m in 2020 to £1.2bn in 2022 as pet owners increasingly faced unpayable bills.
This comes as some owners have reported having to travel abroad for their pets' treatment, with international comparisons showing that a basic veterinary visit for a cat costs approximately It is shown to be 23 lbs. £54 in the UK.
Are you having trouble paying for veterinary treatment? Email katherine.lawton@mailonline.co.uk
IVC Evidencia is the largest of six companies mentioned in a report released this week by the Competition and Markets Authority (CMA), which cited “multiple concerns” and announced a major investigation.
Sarah Cardel, chief executive of the CMA, said there was an “incentive for large corporate groups to act in ways that could reduce competition and choice”.
The companies listed in the CMA report – CVS, IVC, Linnaeus, Medivet, Pets at Home and VetPartners – already own 2,869 of the UK's 4,920 veterinary surgeries.
This comes after the number of local independent practitioners fell from 89 per cent to 45 per cent in the eight years to 2021.
IVC is by far the largest of the six companies; Its 1,018 UK operations are more than double the number held by any other company.
Sinding, dubbed the “baby-faced assassin,” lives on Zurich's Gold Coast with his American wife and two children, The Sun reported.
He turned EQT, the private equity group that owns IVC, into one of the fastest growing companies on the planet, owning approximately 300 companies.
The wealthy businessman recently sold his house in Bygdøy, Norway, for £3 million.
Wilmslow pet owner Lisa Johnson said she noticed prices had gone up after her veterinarian of 20 years was taken over by IVC.
Mr Johnson, who owns a dog, hamster and guinea pig, told The Sun: “After the mortgage and bills, half of my income goes to vet bills.”
She added: “We are struggling with utility bills and food prices.” We feel taken advantage of because we are animal lovers and would never want to sacrifice their health. ”
It's “bringing tears”The fees charged by well-known veterinary clinics are forcing some clients to travel abroad for treatment.
The CMA has warned that pet owners may be paying too much to vets for medicines, prescriptions and treatments for their animals.
International comparisons show that animal lovers may be able to see their cats for cheaper abroad, with a basic veterinary visit for a cat costing £54 in the UK compared to £54 in France. Approximately 23 pounds, or 28 pounds in Germany.
Insurer All Pets says a vaccination in the UK costs around £95, but in France it costs between £43 and £68. X-rays also seem to be much cheaper in France at around £38, but up to £400 in your home country.
The average price for pet insurance is better in the UK, with Compare the Market pegging it at around £372 a year. This compares favorably with dogs in the United States weighing 500 pounds and cats weighing 303 pounds. Canada – £470 for dogs, £250 for cats.
The dog's owner, Brian Flynn, said he had his beagle treated overseas to avoid paying thousands of pounds in British vet fees.
Mr Flynn, 52, said British vets spent £5,318 on surgery and aftercare for eight-year-old Flash when he injured his leg while on holiday in France.
Flash's owner was said to be “appalled” when he took him to a local vet in the alpine town of Bourg St Maurice, where the vet told him the same treatment would cost just £1,493.
The British Veterinary Association insisted the bill was “fair” and said vets faced rising costs.
However, the CMA is concerned that owners are not being informed about the fees and are facing unexpectedly large bills. In the future, we plan to investigate CVS, IVC, Linnaeus, Medivet, Pets At Home, and VetPartners.
MailOnline has contacted IVC Evidensia for comment.
Are you having trouble paying for veterinary treatment? Email katherine.lawton@mailonline.co.uk
