- CVS operates 500 practices across the British Isles, the Netherlands and Australia
- In response, the Norfolk-based company took its computer systems offline
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CVS Group has experienced “significant operational disruption” over the past week after being hit by a cyber incident, the London-listed company said on Monday.
The veterinary services provider, which operates 500 practices in the British Isles, the Netherlands and Australia, told shareholders the attack involved “unauthorized remote access” to a small number of its IT systems.
In response, Norfolk-based CVS took its computer systems offline, preventing further outside access.
Injury: Veterinary services provider CVS Group admits it experienced ‘significant operational disruption’ in the past week due to a cyber incident
IT services have subsequently been restored to most of the business, but due to extra security and monitoring, the company said some systems were not ‘operating as efficiently as before and were likely to cause a ‘continued operational impact’.
As a result of the cyberattack, CVS plans to accelerate the transfer of its IT infrastructure and practice management system to the cloud.
CVS told investors: “While we will continue to focus on providing a high level of clinical care to clients and patients, the security steps taken and the planned migration of our operational systems will likely impact operations for a number of weeks.”
It has also employed specialist external consultants to investigate the matter and notified the Information Commissioner’s Office, given the ‘risk of malicious access to personal information’.
CVS Group shares rose 1.2 per cent to £9.55 in early trading on Monday, although they are still down around 43 per cent since the start of the year.
The company’s value took a major hit when the UK Competition and Markets Authority said in March it was considering launching a formal investigation into the veterinary sector, following an inquiry that raised several concerns.
These may include evidence of concentrated local markets, large corporations acting in ways that limit choice and competition, and pet owners paying too much for medications.
The CMA is currently conducting a consultation on the matter, which will conclude on April 11, after which it will decide how to proceed.