TIDMPVG
RNS Number : 9654Z
Premier Veterinary Group PLC
02 June 2016
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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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