Interserve acquires Advantage Healthcare
Support services and construction group Interserve has acquired Advantage Healthcare from Rutland Partners and management for a cash consideration of 26.5m pounds.
Support services and construction group Interserve has acquired Advantage Healthcare from Rutland Partners and management for a cash consideration of 26.5m pounds.
The transaction expands Interserve's public sector service proposition in the UK, widening the group's access to the £10bn community healthcare market by offering a range of healthcare services at home.
This expansion is further expected to give Interserve the capacity to offer additional services and build upon existing relationships with NHS Primary Care Trusts (PCTs) across the UK.
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Advantage Healthcare has gross assets of approximately £5m and, in 2012, Advantage Healthcare is expected to report revenues of approximately £41m and earnings before interest and tax (EBIT) of approximately £3m.
Commenting on the transaction, Adrian Ringrose, Chief Executive Officer of Interserve said: "We see the healthcare and care at home sector as key growth markets and this acquisition both expands our capability, while also being a further step towards delivering the group's medium term strategy of greater front-line service provision."
Advantage Healthcare manages the care of over 500 individuals with a broad range of healthcare needs. Its healthcare services are provided by nurses and carers and include live-in care, palliative care and complex care.
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