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.

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.

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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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