TIDMPVG
RNS Number : 4458C
Premier Veterinary Group PLC
28 June 2016
PREMIER VETERINARY GROUP PLC
("PVG" or "the Company")
FURTHER MAJOR AGREEMENT SIGNED IN THE US FOR PREMIER PET CARE
PLAN
UPDATE ON PREMIER PET CARE PLAN GROWTH
London, UK, 28 June 2016 - Premier Veterinary Group plc (LSE:
PVG) announces that its wholly-owned subsidiary, Premier Vet
Alliance (US) Limited ("PVA"), has signed another major agreement
in the US for its preventative healthcare program for pets, branded
as Premier Pet Care Plan ("PPCP").
The latest agreement has been entered into with Merritt
Veterinary Supplies Inc. ("MVS"), a leading veterinary supplies
distributor founded in 1938, which has 9,000 member hospitals in
the south east of the US. MVS is headquartered in Columbia, South
Carolina.
The initial 5-year agreement, as exclusive preferred provider of
preventative healthcare programs, is to introduce PPCP to MVS'
member hospitals, located primarily in South Carolina, North
Carolina, Georgia, Alabama, Florida, Mississippi, Louisiana,
Tennessee, Kentucky and Indiana. Recruitment of the product launch
and training team has already commenced to service this substantial
account, and this will be supported by MVS' internal 42-strong
sales team. The first pets on plan from this agreement are expected
during the second half of the current calendar year.
Bobby Mins, President of MVS, commented:
"I see the Premier Pet Care Plan as a great opportunity for
Merritt as a Distributor as this will significantly improve
compliance rates on the key healthcare products with a consequent
increase in sales."
Dominic Tonner, Chief Executive Officer of PVG, added:
"I am delighted to announce this deal with one of the oldest and
most respected distributors in the Southeastern United States. The
agreement will very significantly enhance growth and market share.
Bobby's team have totally embraced our proposition and we look
forward to working with them closely to improve the clinic
performance of their customer base."
Premier Pet Care Plan Customer Growth
The number of pets on active plans in the third quarter of 2016,
and in the preceding three quarters, are as follows:
As at As at As at As at
Sep-15 Dec-15 Mar-16 Jun-16
Rest of World 3,000 5,000 10,000 14,000
United Kingdom 79,000 99,000 107,000 115,000
------- -------- -------- --------
Total no of pets
on plan 82,000 104,000 117,000 129,000
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).
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") which offers
enhanced discounts to member practices on pharmaceutical and
consumable spending. In the US, Premier Pet Care Plan 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 the best discounts across the
industry on pharmaceutical and consumable spend.
For further details:
http://www.premiervetalliance.co.uk/;
http://www.merrittvet.com/home.aspx
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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