IVC Evidensia, a private‑equity‑owned veterinary chain, has shelled out £34 million over two years to tackle a UK Competition and Markets Authority probe. The regulator, which began reviewing practices in September 2023, capped the first prescription at £21 and demanded greater price transparency. The cost split between 2024 and 2025 was £10.6 million and £24 million.

EQT, the group’s owner, now eyes an exit after a decade of ownership. With 2,600 sites across 19 countries and 190,000 animals treated weekly, IVC tops the UK vet market, which is 60 percent controlled by chains. The CMA’s findings—practices averaging 18.3 percent higher prices than independents—ended without new price caps.

Financials show 2025 EBITDA rose 4 percent to £719.6 million while revenue held at £3.42 billion. A £818 million write‑down of the Canadian arm widened statutory losses to £904 million. IVC’s CEO, Simon Smith, said the firm remains poised for long‑term growth despite market pressures. The CMA review clears the way for a potential IPO or sale.

Investors note that IVC’s £12 billion 2021 valuation and recent practice acquisitions signal a high‑growth trajectory. With no new price controls, the chain can pursue aggressive expansion or a multibillion‑pound London listing. The CMA’s closure removes regulatory uncertainty that previously dampened investor appetite.