CVS Group experienced ‘considerable operational disruption’ over the last week after it was struck by a cyber incident, the London-listed firm said on Monday.
The veterinary services provider, which runs 500 practices across the British Isles, the Netherlands, and Australia, told shareholders the attack involved ‘unauthorised external access’ to a small number of its IT systems.
Norfolk-based CVS took its computer systems offline in response, thereby preventing additional outside access.
Injury: Veterinary services provider CVS Group admitted it experienced ‘considerable operational disruption’ over the last week because of a cyber incident
IT services have subsequently been restored to most of its estate, but due to extra security and monitoring, the firm said some systems were not acting ‘as efficiently as previously and would probably cause an ‘ongoing operational impact’.
As a consequence of the cyber attack, CVS plans to speed up the transfer of its IT infrastructure and practice management system to the Cloud.
CVS told investors: ‘Whilst we will continue to focus on providing high levels of clinical care to clients and patients, the security steps taken and the planned migration of our operational systems are likely to have an impact on operations for a number of weeks.’
It has also employed specialist third-party consultants to investigate the issue 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 have still plummeted by around 43 per cent since the year started.
The company’s value took a sizeable hit when the UK’s Competition and Markets Authority said in March it was considering launching a formal probe into the veterinary sector, following a review that raised multiple concerns.
These included possible evidence of concentrated local markets, large businesses acting in ways that lowered choice and competition, and pet owners overpaying for medicines.
The CMA is currently conducting a consultation on the matter that will close on 11 April, at which point it will choose how to proceed.
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