March 24 (Reuters) - Britain's veterinary services will be required to implement price transparency measures, cap prescription fees, while large chains will have to disclose their ownership, the competition watchdog said on Tuesday, as it moved to shake up the 6.7-billion-pound ($9 billion) sector.
The UK's Competition and Markets Authority's (CMA) final reforms, which mark the end of its two-and-a-half-year probe into the sector, followed proposals it set out last October to overhaul the country's vet services market.
Vet group CVS Group said some of the CMA's remedies were not "fully justified", but added it was comfortable with them and believes they are workable.
Here are some details on the new rules.
* Written prescription fees will be capped at 21 pounds forthe first medicine and 12.50 pounds for any additionalmedicines, down from 30 pounds or more at many practices. * Veterinary businesses must clearly display whether theyare part of a chain or independent. * All practices must publish comprehensive price lists forstandard services, including consultations, procedures,diagnostics and cremation options; currently, less than 40% haveprices on their websites. * Practices must provide written estimates in advance forany treatment expected to cost 500 pounds or more, with itemisedbills. * The CMA will have six months to impose legally bindingorders on businesses, meaning all remedies will be in place bySeptember 23, 2026, with most taking effect within three to 12months after that.($1 = 0.7448 pounds)
(Reporting by Yadarisa Shabong in Bengaluru)
